HouseRX Rakes In $55 Million Series B

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SAN FRANCISCO &&num;8212&semi; <a href="https&colon;//edge&period;prnewswire&period;com/c/link/&quest;t=0&amp&semi;l=en&amp&semi;o=4555772-1&amp&semi;h=2680900089&amp&semi;u=https&percnt;3A&percnt;2F&percnt;2Fwww&period;houserx&period;com&percnt;2F&amp&semi;a=House+Rx" target="&lowbar;blank" rel="nofollow noopener">House Rx</a>, a health tech company focused on making specialty medications more accessible and affordable for patients, has raised &dollar;55 million in Series B equity and debt to expand its in-clinic specialty pharmacy model&period; The financing was led by New Enterprise Associates (NEA) and Town Hall Ventures and included participation from LRVHealth, First Round Capital, Bessemer Venture Partners, and Silicon Valley Bank&period; This new investment brings the company&&num;8217&semi;s total capital raised to date to &dollar;100 million&period;&NewLine;At a time when regulators and states are actively challenging the Pharmacy Benefit Manager (PBM)-owned, closed network specialty pharmacy model, House Rx offers an alternative vision – a nationwide network of locally owned, brick-and-mortar specialty dispensaries embedded in specialty clinics&period; The model puts patients and providers at the center and delivers vastly superior quality outcomes&period; By partnering with specialty clinics to integrate pharmacy services directly into care delivery, House Rx enables providers to offer high-touch, local alternatives to centralized pharmacy fulfillment models&period; This approach improves coordination between providers and pharmacists, reduces administrative complexity, and delivers better outcomes for patients dealing with complex conditions&period;&NewLine;&&num;8220&semi;There&&num;8217&semi;s finally momentum behind creating a specialty pharmacy system that makes it easier for patients to seamlessly and more affordably access the medications they desperately need,&&num;8221&semi; said Ogi Kavazovic, CEO &amp&semi; Founder of House Rx&period; &&num;8220&semi;We&&num;8217&semi;re seeing interest from stakeholders across the healthcare system — healthcare providers, manufacturers, payers, investors, and certainly employees who all recognize the opportunity to finally challenge the status quo in specialty pharmacy&period; We all want to do better by patients and help bring down the overwhelming expense to our healthcare system&period; With the support of this funding, we&&num;8217&semi;re ready to scale operations to meet the exploding demand&period;&&num;8221&semi;&NewLine;To date, House Rx has partnered with more than 1,000 providers at 80 clinic sites nationwide, helping them stand up and successfully operate in-house pharmacies that deliver better outcomes for patients&period; House Rx processes approximately &dollar;1&period;5 billion in specialty scripts per year, with that volume expected to increase to &dollar;3 billion by the end of 2026&period;&NewLine;&&num;8220&semi;Specialty pharmacy is one of the highest-cost and least-transparent segments in healthcare and one that&&num;8217&semi;s long overdue for change for the betterment of our healthcare system,&&num;8221&semi; said Blake Wu, Partner at NEA&period; &&num;8220&semi;NEA&&num;8217&semi;s history of investing within specialty pharmacy and working with industry leaders in the category provides unique insight into its challenges, and we believe House Rx has an incredibly exciting vision to make a lasting change in this industry&period; The House Rx team is top notch, with a unique combination of specialty pharmacists and software builders working together to bring a new technology and service offering to market, making it cost effective for clinics to deliver complex specialty pharmacy services to their patients&period; We believe this model has the potential to change the landscape of specialty pharmacy for years to come&period;&&num;8221&semi;&NewLine;HouseRX currently has nearly 250 employees&period;&NewLine;

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