HealthWarehouse.com Places $3.3 Million in Preferred Stock and $1 Million in ...
10.11.10
In equity and convertible debt with independent investors.
The investment will be used primarily to expand the company's online presence while upgrading its technology infrastructure to keep pace with rising demand for its FDA-approved generic prescription drugs, as well as pay for indebtedness, expansion and working capital.
HealthWarehouse.com delivers more than 4,500 FDA-approved prescription and over-the-counter medications with free shipping to consumers in 49 states, often at lower prices than traditional retailers and average insurance co-pays. Consumers on maintenance medications for conditions such as asthma, diabetes, high blood pressure and high cholesterol can obtain a 1 year supply of medications, if prescribed by their doctor, eliminating the need for visits to the pharmacy and inconvenient refills.
In 2009, HealthWarehouse.com became one of only 24 pharmacies to receive VIPPS accreditation (Verified Internet Pharmacy Practice Sites issued by the National Association of Boards of Pharmacy ). Since that time, the company has doubled its customer base while receiving two consecutive Bizrate Circle of Excellence Awards for exceptional customer service and satisfaction.
Source: PR Newswire (press release)
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