Austin, Texas, Oct 3, 2019 / PRNewswire/
HealthGrowth Capital LLC, a leading provider of financing alternatives and advisory services to community pharmacies across the US, is pleased to announce that Christian Herrington has been appointed to serve as the company’s President, as well as a member on HealthGrowth’s governing board.

“We are pleased to benefit from Christian’s extraordinary experience, with his increased day-to-day commitment helping us shape our offerings to match critical market gaps,” said Karl Kipke, Chief Executive Officer of HealthGrowth. “His expertise and long-term relationships reflect high respect among constituents spanning the entire pharmacy ecosystem. With access to the highest levels in our industry, we are rapidly developing ground-breaking service offerings and innovative financial products that will help pharmacy owners expand their success and profitability.”

“Over the years, I’ve watched the pharmacy industry evolve dramatically. While growth prospects are brighter today than ever before, significant changes outside the control of most pharmacy owners have presented challenges for many in the space. Adjusting to the new and sometimes murky rules, and gaining access to capital, are proving to be important determinants of the future success of most of these businesses. I look forward to helping HealthGrowth Capital strengthen its capabilities in these areas, to serve every independent pharmacy in this $85 billion space,” said Mr. Herrington.

Mr. Herrington’s experience spans more than 35 years with Bindley Western, Cardinal Health, H.D. Smith and AmeriSource Bergen, where he served in sales, sales management, and executive management roles.

About HealthGrowth Capital, LLC
HealthGrowth Capital, LLC, based in Austin, Texas is a provider of specialty lending and advisory services to independently owned, community pharmacies.

SOURCE:
HealthGrowth Capital, LLC

[Lake Worth, Florida, November 26, 2018] – Pharmacy Development Services (PDS) has selected HealthGrowth Capital as its preferred lender for its members seeking working capital lines of credit.

HealthGrowth Capital, a direct lender to healthcare businesses, recently introduced its PharmLine™ revolving line of credit designed specifically for pharmacy entrepreneurs. “PDS believes independent pharmacies are the best place for patients to get the care they need, and therefore we believe independents deserve to thrive. This is why PDS is dedicated to helping pharmacy owners learn the skills and strategies they need to be successful and profitable,” said Jeff Philipp, Chief Executive Officer of PDS. “Pharmacy is a cash-challenged business.  Our members are sometimes faced with reimbursement delays and charge backs that are out of their control and are often unpredictable. HealthGrowth Capital’s PharmLine™ product provides pharmacy owners with financial flexibility and liquidity when they need it.”

“PDS has been extraordinarily effective in helping take pharmacies to the next level of profitability and success,” said HealthGrowth Capital CEO Karl Kipke. “We created PharmLine™ revolving lines of credit because nearly every community pharmacy needs access to working capital in order to bridge reimbursement gaps or for growth capital. PharmLine™ provides pharmacy owners with up to $1 million of credit in as little as two-weeks.”

About Pharmacy Development Services (PDS)
PDS works directly with owners and their staff to teach them to build stronger businesses, provide better patient service, become more effective leaders, and increase profits. By doing so, independent pharmacies become resistant to the industry forces working against them and have the freedom to achieve their aspirations. Unlike drug distributors, buying groups and trade associations, PDS is 100% focused on equipping independent pharmacy owners with the skills they need to make their life better and their business more valuable. For more information about Pharmacy Development Services, please visit www.pharmacyowners.com or call (800) 987-7386.

About HealthGrowth Capital, LLC
HealthGrowth Capital, LLC, based in Austin, Texas is a leading specialty lender to independent pharmacies and healthcare companies and medical practices. Its products include working capital lines of credit, equipment finance and acquisition loans. For more information, please visit www.healthgrowthcapital.com or call (512) 575-4500.

Austin, Texas, October 24, 2018 – HealthGrowth Capital and KloudScript have entered into a partnership to provide growth capital for community pharmacies seeking to enter the lucrative specialty pharmaceutical space.

“The operating landscape for community pharmacies continues to experience profound shifts. Once profitable business segments can become financially challenging very quickly,” said Karl Kipke, Chief Executive Officer of HealthGrowth Capital.  “Successful pharmacy owners must proactively pivot to higher-margin opportunities to increase profits.”

“The $150 billion specialty market focuses on high cost, high touch medication therapy for patients with complex disease states,” Kipke continued. “This agreement enables our customers to have the necessary capital to expand opportunities for pivoting their community-based retail pharmacy business and integrate specialty pharmacy care by joining KloudScript’s specialty pharmacy network.”

“In today’s market, it is almost impossible for community pharmacies to build a specialty pharmacy from the ground-up or even buy one without taking on insurmountable capital risk.  KloudScript offers an opportunity for pharmacies to participate in an alliance across targeted markets to lower the risk and barriers to entry for offering a specialty program,” said Rinku Patel, PharmD, Chief Executive Officer of KloudScript. “HealthGrowth Capital recognizes the enormous opportunity that the specialty market offers retail pharmacies. We are delighted to be partnering with HealthGrowth Capital in accessing programs that will help pharmacy entrepreneurs properly finance their businesses and help them maximize the operating performance of their pharmacies.”

About HealthGrowth Capital, LLC

HealthGrowth Capital, LLC, based in Austin, Texas is a leading alternative specialty lender to healthcare companies and medical practices.  HealthGrowth Advisors, LLC offers management consulting services to help community pharmacies improve profitability, optimize operations, reduce DIR fees and identify and access new growth opportunities.  For more information, please visit www.healthgrowthcapital.com or call (512) 575-4500.

About KloudScript, Inc

Headquartered in Oakbrook Terrace, Illinois, KloudScript is a community-led specialty pharmacy network that partners with independent community pharmacies nationwide and collaborates with pharmaceutical manufacturers, payors, and prescribers to make specialty medications available locally for patients. Through its technology platform, KETU™, and support services, KloudScript has pioneered the ultimate solution for patients’ desire for local care and community pharmacies’ strategic need to participate in the fastest growing segment of pharmacy. Learn more about KloudScript’s growing community-led specialty pharmacy network at www.kloudscript.com or call (855) 202-7036.

Austin, Texas, October 17, 2018 – HealthGrowth Capital and Lendistry are proud to introduce the first revolving line of credit designed for independent pharmacies – the PharmLine™. Developed by pharmacy experts for pharmacy owners, PharmLine™ provides access to as much as $1 million to meet the challenges and opportunities pharmacy entrepreneurs face every day.

“After working with and advising hundreds of community pharmacy owners, we learned the key financial tool our customers needed most was revolving credit,” said HealthGrowth Capital CEO Karl Kipke. “PharmLine™ provides the financial flexibility only a revolving line of credit can deliver.”

“Many banks stopped offering lines of credit to healthcare businesses after the financial crisis 10-years ago,” Kipke added. “The professionals at Lendistry are innovative, smart and aggressive and made the perfect partners to help us create this product. PharmLine™ is quick and easy to obtain so pharmacy owners can focus on growing their businesses and stop worrying about being undercapitalized.”

PharmLine™ is a revolving line of credit that is designed to give pharmacy owners access to working capital within 10-days of applying. PharmLine™ is also available to businesses with SBA or other senior, secured debt. Now, DIR fees, unexpected reimbursement delays or new growth opportunities are easy to address with a trusted industry player that understands the pharmacy industry.

“Lendistry was established to offer financing alternatives to quality borrowers that are underserved by traditional lenders,” said Everett Sands, Chief Executive Officer of California-based Lendistry. “Our market data indicates 80% of the independent pharmacy owners in the US need additional working capital and PharmLine™ meets that need. Given HealthGrowth Capital’s expertise in community pharmacy-lending, we are excited to bring this transcendent product to this $80 billion industry.”

About HealthGrowth Capital, LLC

HealthGrowth Capital, LLC, based in Austin, Texas is a leading alternative specialty lender to healthcare companies and medical practices. For more information, please visit https://www.healthgrowthcapital.com or call (512) 575-4500.

About Lendistry

Lendistry is a CDFI, led by community and national bankers, that provides affordable small business and commercial real estate loans headquartered in Southern California with a mission to provide economic opportunities and progressive growth for small business owners and their underserved communities. Lendistry ranks 2nd in the nation among SBA Community Advantage lenders and was awarded Top Lender in its district in May 2018. Lendistry also offers unique opportunities to banks to help fulfill Community Development Lending, CRA Investment and Small Business Lending Test goals. For more information, please visit https://www.lendistry.com or call (844) 662-7297.

Austin, Texas, October 4, 2018 –  HealthGrowth Capital and P4 Technologies have formed a strategic partnership to provide superior financing and inventory management solutions to independent pharmacy owners.

HealthGrowth Capital, a direct lender to small businesses in the healthcare industry, provides working and growth capital to business owners seeking to take their businesses to the next level.

“We are recognized as the leading non-SBA lender to community pharmacies in the industry,” said HealthGrowth Capital CEO Karl Kipke. “We are delighted to partner with P4 Technologies to provide systems that will help our customers manage, forecast and optimize their inventories.  Their state-of-the-art tools free-up cash, increase inventory turns and reduce operating costs – all important priorities in today’s competitive marketplace.”

P4 Technologies delivers a cloud-based software platform that uses advanced, scientific forecasting and replenishment algorithms that assist pharmacies in managing inventories.

“Our pharmacy customers are all looking for ways to improve and expand their businesses and sometimes that requires capital,” said Ken Palmer, founder and President of P4 Technologies. “We are pleased to refer our customers to HealthGrowth Capital because they take a consultative approach to helping healthcare entrepreneurs obtain the financial resources they need to effectively compete and grow their pharmacies.”

Terms of the agreement were not disclosed.

For more information:

Mr. Karl Kipke
Chief Executive Officer
925 S. Capital of Texas Hwy, #B100,
Austin, TX
Phone: 512.575.3173
E-mail: karl@healthgrowth.com