I am delighted to be continuing an ongoing commercial partnership with Phlo that will allow our US partners to launch in the UK in the future.” In Phlo, we found a company which shared all these objectives, and I don’t think we could have found a better fit. That meant finding a business that is patient focused, with a strong technology stack and who were committed to growing and innovating in the UK market with a focus on servicing current and future consumer health clients. “Our priority was to find the right acquirer who shares Truepill’s vision and ethos of the future of pharmacy. Shakil Ahmed, Truepill UK Managing Director, comments, “As Truepill made the decision to focus on the US market, our priority was to ensure our UK patients, clients and staff faced as little disruption as possible.
Phlo photo series#
“Following our Series A raise, Phlo is in a stronger position than ever to lead digital transformation in the pharmacy sector and to play a pivotal role in improving health outcomes in the UK.” The levels of commitment from the Truepill team in effecting a smooth transition have been outstanding, and we are looking forward to working together to fuel the next phase of our growth.” Fuelled by our successful Series A raise, the Truepill acquisition will accelerate our digital healthcare strategy throughout the remainder of 2023 and beyond. Jason McGibbon, Chairman of Phlo, comments, “The Truepill deal caps an incredibly busy and successful six-month period for the team.
I’d like to thank the team at Truepill for their assistance in making the sale a smooth one and for their commitment to their patients and partners during this time.” We’re delighted that this market consolidation will enable further improvements to the excellent service that Phlo offers to patients and partners, and also allow us to extend that service by welcoming new patients and partners across the country. Nadeem Sarwar, Founder and CEO of Phlo, comments, “Phlo’s acquisition of Truepill UK marks a hugely significant moment in the evolution of digital healthcare in the UK. The company intends to expand its UK workforce, which currently numbers 90 people, and all of Truepill UK’s existing pharmacy and warehouse personnel have been offered positions with Phlo. Phlo Digital Pharmacy, which provides patients with end to end NHS digital pharmacy service to patients across England has also acquired Truepill’s NHS patient base. The organisations have also agreed to pursue additional cooperative projects as needed. In a press note, the company claimed that once connected, Phlo’s technology will allow for the direct prescribing, dispensing, and delivery of prescribed and over-the-counter medications and therapies to users of these platforms.Īs part of the deal’s business collaboration, Phlo has agreed to support Truepill’s US partners if any of them decide to enter the UK market.
Phlo photo full#
The acquisition will help Phlo to extend the geographic scope of its operations with ambitions to begin same-day on-demand drug delivery in Manchester, in addition to existing services in Birmingham and London.Īpart from that, the healthtech startup has also acquired the Truepill UK’s technology stack including their full set of Application Programming Interfaces (APIs) and prescribing technology.
The acquisition comes after the startup’s £10M Series A funding led by Scotland-based investment firm Thairm Bio with participation from Scottish Enterprise and a number of angel investors. Seen as a step in the right direction, Scottish digital pharmacy startup Phlo has acquired the UK arm of US-based healthcare unicorn Truepill. Boosted by the Covid-19 pandemic and the ever-evolving consumer preferences, digital pharmacy has only seen exponential growth and it even continues to see an upward trajectory in the post pandemic world.
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