Pharmaca Integrative Pharmacy Inc., a Boulder, Colo.-based retail chain of integrative pharmacies, has raised $20 million in new funding. Backers include Highland Capital Partners, Highland Consumer Fund and Physic Ventures.
Pharmaca Integrative Pharmacy, Inc., a retail chain of integrative pharmacies, has raised $20MM in additional growth capital. The financing round, led by Highland Capital Partners, the Highland Consumer Fund and Physic Ventures, will be used to accelerate Pharmaca’s new store expansion plans. The Company expects to add 12 stores per year to its current 20 store base.
“It is exciting to have the continued support of Highland and Physic Ventures as we grow our integrative retail pharmacy concept in existing and new markets,” stated Barry Perzow, co-founder, president and CEO of Pharmaca Integrative Pharmacy.
“Pharmaca continues to set the standard for integrative medicine at the retail level,” continued Mr. Perzow. “Fueled by a consumer-driven movement toward healthy aging and self care, the convergence of western medicine with natural and complementary modalities is now embraced by leading teaching hospitals and medical centers. Pharmaca’s growth demonstrates that we are the compelling destination for those seeking a healthier, more proactive lifestyle,” he added.
“Through its innovative approach combining modern pharmacy with complementary and holistic remedies, Pharmaca has established a leading position in an exciting new retail category,” said Tom Stemberg, managing general partner of Highland Consumer Fund. “We look forward to further contributing to the company’s growth as they open additional stores and expand into new markets,” he added.
Physic Ventures is a venture fund focused on growing consumer-driven health and sustainable living companies. William Rosenzweig, a managing director at Physic, said, “Pharmaca is the market leader in an important healthy lifestyle sector and we think their service-driven approach offers customers the experience they want and deserve.”
Pharmaca Integrative Pharmacy, Inc., founded in June 2000 and based in Boulder, Colorado, is the nation’s first and largest integrative pharmacy chain combining conventional prescriptions, natural and complementary health solutions. The Company owns twenty pharmacies in: Boulder, Colorado(3); Berkeley, Irvine, La Jolla, Los Gatos, Mill Valley, Monterey, Napa, Novato, Pacific Palisades, Sonoma and San Francisco, California (11); Portland, Oregon (1); Albuquerque and Santa Fe, New Mexico (2); and Seattle, Washington (3). http://www.pharmaca.com
About Highland Capital Partners & Highland Consumer Fund
Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional information technology, communications, healthcare and consumer companies. Affiliated with Highland Capital Partners, the Highland Consumer Fund specializes in consumer products, services and retail investment opportunities in growth-focused companies with proven business models operating in attractive markets. With over $3 billion of committed capital, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, CheckFree, Conor Medsystems, Helicos BioSciences, lululemon athletica, Lycos, MapQuest, Odyssey Healthcare, Quigo, Starent Networks and VistaPrint. http://www.hcp.com .
About Physic Ventures
Physic Ventures, based in San Francisco, is a venture capital firm committed to “investing in keeping people healthy.” Physic works closely with entrepreneurial teams to build leading businesses in consumer-driven health and sustainable living. The partners of Physic Ventures have worked to build such firms as Dreamerz Foods, Elixir Pharmaceuticals, Novomer, Textronics, and The Republic of Tea. http://www.physicventures.com