Posts in Industry Insights

PHARMACY DEVELOPMENT SERVICES (PDS) RECOMMENDS HEALTHGROWTH CAPITAL TO ITS MEMBERS FOR WORKING CAPITAL REVOLVING LINES OF CREDIT

November 26th, 2018 Posted by Industry Insights 0 thoughts on “PHARMACY DEVELOPMENT SERVICES (PDS) RECOMMENDS HEALTHGROWTH CAPITAL TO ITS MEMBERS FOR WORKING CAPITAL REVOLVING LINES OF CREDIT”

[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.

HealthGrowth Capital and Hamacher Resource Group Announce Partnership Dedicated to Community Pharmacies

October 30th, 2018 Posted by Industry Insights 0 thoughts on “HealthGrowth Capital and Hamacher Resource Group Announce Partnership Dedicated to Community Pharmacies”

Austin, Texas, October 30, 2018 – HealthGrowth Capital, LLC has entered into a
partnership with Hamacher Resource Group, Inc. (HRG) to provide independent
pharmacies with better opportunities to thrive in the growing healthcare marketplace. As
part of their lending process, HealthGrowth Capital will recommend community
pharmacies complete a 360° Store Assessment through HRG.

A 360° Store Assessment – conducted by HRG’s seasoned team of category
management, marketing, sales, and pricing analytics specialists – provides an unbiased
review of a pharmacy’s unique customer experience from every angle, identifying
opportunities to attract new patients and developing an actionable strategy for boosting
front-end sales.

“As pharmacy margins and reimbursements continue to get squeezed, owners must
maximize profits in the rest of the store,” said Karl Kipke, chief executive officer of
HealthGrowth Capital. “Hamacher sets the standard as the leader in helping
pharmacies optimize front-of-store operations in ways that grow both revenue and
profitability.”

“HealthGrowth Capital is unique among lenders in the community pharmacy space
because they truly understand the intricacies of the business and have created
solutions that fit the specific needs of pharmacy owners,” said Dawn Vogelsang,
President and majority owner at HRG. “We are delighted to be working with a group that
possesses such strong expertise and that shares a mutual commitment to the long-term
health and viability of independent 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 Hamacher Resource Group
Hamacher Resource Group focuses on improving results for product manufacturers,
healthcare distributors, retailers, technology partners, and other organizations by
addressing dynamic needs such as assortment planning and placement, retail
execution strategy, fixture coordination, item database management, brand marketing,
and analytics. Founded in 1980, HRG is a WBENC-Certified Women’s Business
Enterprise headquartered in Greater Milwaukee, and was named a Milwaukee Journal
Sentinel’s Top Workplace in 2018. Visit hamacher.com for more information.

HEALTHGROWTH CAPITAL AND LENDISTRY LAUNCH PHARMLINE™, THE FIRST REVOLVING LINE OF CREDIT DEDICATED TO COMMUNITY PHARMACIES

October 17th, 2018 Posted by Industry Insights 0 thoughts on “HEALTHGROWTH CAPITAL AND LENDISTRY LAUNCH PHARMLINE™, THE FIRST REVOLVING LINE OF CREDIT DEDICATED TO COMMUNITY PHARMACIES”

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.

HealthGrowth Capital And AHS Staffing Partner To Assist Pharmacy Owners

September 10th, 2018 Posted by Industry Insights 0 thoughts on “HealthGrowth Capital And AHS Staffing Partner To Assist Pharmacy Owners”

AUSTIN, Texas, Sept. 4, 2018 /PRNewswire/ — HealthGrowth Capital and AHS Staffing have joined together in a partnership to better provide pharmacy owners opportunities to thrive in the growing healthcare marketplace.

HealthGrowth Capital, a direct lender to small businesses in the healthcare industry, provides growth capital to healthcare professionals to help put their businesses on a path toward success and new growth.

“HealthGrowth Capital works diligently to provide working capital and operating resources to help our customers grow and flourish in an increasingly competitive space,” said HealthGrowth Capital CEO Karl Kipke. “Managing and optimizing personnel is a challenge for every business. Our customers will be well-served and taken care of by AHS Staffing’s notable team of professionals.”

AHS Staffing, an industry-leader and one of the fastest-growing pharmacy staffing agencies in the United States, believes the partnership makes a new set of opportunities available to its clients.

“We are thrilled about the opportunity to collaborate with HealthGrowth Capital,” said Brett Burleson, AHS Vice President – Director of Business Development. “As the leader in healthcare staffing solutions, we work with countless entrepreneurs who need capital to fund their growth. HealthGrowth Capital has distinguished itself as the partner of choice for providing working, expansion, and acquisition capital to healthcare businesses.”

Christian Herrington, Veteran Pharmaceutical Business Executive, Joins HealthGrowth Capital’s Advisory Board

September 10th, 2018 Posted by Industry Insights 0 thoughts on “Christian Herrington, Veteran Pharmaceutical Business Executive, Joins HealthGrowth Capital’s Advisory Board”

AUSTIN, Texas, Aug. 6, 2018 /PRNewswire/ — HealthGrowth Capital LLC, a leading alternative specialty lender to independent pharmacies and healthcare companies, is pleased to announce the appointment of Christian Herrington to the Company’s Board of Advisors.

“We are excited to welcome Chris to our Board of Advisors,” said Karl Kipke, Chief Executive Officer of HealthGrowth Capital LLC. “His exemplary reputation, extensive experience and close relationships in the wholesale sector of the pharmaceutical industry make him a perfect addition to our Company as we launch new and innovative financial products to community pharmacies around the U.S.”

“I want to thank HealthGrowth Capital for inviting me to be a part of their growing team of healthcare finance professionals. The Company’s unique understanding of pharmacies, product orientation and strategic relationships have made HealthGrowth Capital a vital and growing source of credit to this $85 billion space,” said Mr. Herrington.

Mr. Herrington’s experience spans over 30 years with Bindley Western, Cardinal Health, H.D. Smith and AmerisourceBergen, where he served in sales, sales management and executive management roles.

About HealthGrowth Capital, LLC

HealthGrowth Capital, LLC, based in Austin, Texas is a leading alternative specialty lender to healthcare companies and medical practices.

SOURCE:
HealthGrowth Capital, LLC
www.healthgrowthcapital.com
https://www.prnewswire.com/news-releases/christian-herrington-veteran-pharmaceutical-business-executive-joins-healthgrowth-capitals-advisory-board-300691531.html

 

Monday – Friday (CST):
8 AM – 6 PM

Saturday and Sunday:
Appointments, by request

925 S. Capital of TX Hwy
Ste. B100
Austin, TX 78746
512-575-4500
512-598-0027 (fax)

HealthGrowth Capital provides financing options exclusively tailored to the needs of healthcare professionals who are striving to improve their practices and healthcare businesses in order to deliver a higher level of patient care.
facebookgoogle+View HealthGrowth Capital's profile on LinkedIn