Caduceus Capital Partners has finalized its investment in ScriptDrop, a company that makes prescription delivery easy and accessible by connecting patients, pharmacies and couriers through its technology platform for a seamless experience.
When patients are unable to access their prescriptions, their health suffers. Studies show that medication non-adherence results in $100 to 289 billion in avoidable costs and nearly 125,000 deaths every year. According to a report published by the World Health Organization, improving drug adherence is the most significant way to improve human health globally. In developed countries, adherence to long-term therapy for chronic illnesses averages only 50%, causing a vast amount of avoidable suffering and financial burden.
ScriptDrop offers a streamlined prescription delivery solution that puts medications in the hands of the patients who need them, when they need them. The company’s technology allows pharmacies to electronically request delivery on behalf of their patients. ScriptDrop then engages a nationwide courier network to take prescriptions from the pharmacy counter to the patient’s doorstep.
The company currently works with some of the country’s top grocery chains, pharmacy chains and health systems, including Albertsons, Publix, Jewel-Osco, Safeway and Vons. Notably, ScriptDrop announced a partnership with Uber last spring.
The company has scaled rapidly over the past two years, delivering five million prescriptions nationwide.
“The key to our success is bringing value to both the patient and the healthcare professional. Our process saves pharmacy techs up to 13 clicks, simplifying their work while offering a service that patients enjoy,” said Amanda Epp, CEO of ScriptDrop.
Founded in 2020, Caduceus Capital Partners invests in early-stage digital health companies that can make a significant impact on healthcare by expanding access, improving patient outcomes, reducing costs and enhancing the daily working lives of care providers.
“There are many reasons why medication adherence rates are so low – pharmacy deserts, lack of transportation, language barriers and sheer inconvenience. ScriptDrop removes these obstacles and creates a better experience,” said Dave Vreeland, senior managing partner, Caduceus Capital Partners. “We have known the ScriptDrop team for a long time and are excited to partner with them as they revolutionize prescription delivery nationwide with their proven technology.”
About Caduceus Capital Partners, LLC
Caduceus Capital Partners is a venture capital and private equity company focused on early-stage digital health investments. The Caduceus Capital Partners investment model actively supports portfolio companies from the first check to the exit phase with operational expertise and network access to potential customers and partners. For more information and investment interest, visit www.caduceus.vc.
ScriptDrop is the only healthcare IT company specializing in medication access that serves patients in all 50 states. Since 2016, ScriptDrop has worked alongside their healthcare partners to deliver medication access opportunities to patients from coast to coast through technology, empathy, and healthcare expertise.
Through a robust platform, long-term data storage, multiple service levels, and first-class customer service, ScriptDrop is driving down rates of hospital readmission and improving drug adherence. ScriptDrop has helped pharmacies reduce return to stock rates by 88% and has helped health systems increase their same-day delivery volume by 73% after just two months of partnership. For more information, go to scriptdrop.co or follow @ScriptDrop on Facebook, LinkedIn, or Twitter.