BlueCross BlueShield Venture Partners Invests in ExactCare
CLEVELAND (September 8, 2016) – ExactCare® Pharmacy, a leading pharmacy focused on improving medication adherence for patients with chronic conditions and on multiple medications, today announced an investment by BlueCross BlueShield Venture Partners, a corporate venture fund that invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield Plans. The Fund’s exclusive provider of investment management services is Sandbox Industries.
ExactCare will use this investment to support continued national expansion of its care model and patient reach; drive continued technology and service enhancements to deliver added value to patients and partners; and hire new staff to support growth.
“I couldn’t be more pleased to be working with BlueCross BlueShield Venture Partners,” said Dale Wollschleger, R.Ph., Founder and CEO of ExactCare. “The Fund has tremendous experience working with innovative, high-growth health care companies, and understands the complexities and the rapidly changing nature of health care. Expert insight, in particular from the payer perspective, will be invaluable as we work to strengthen our partnerships with providers, payers and specialized health care organizations.”
“This is an exciting time for ExactCare and for the board,” said Douglas Present, Chairman of the ExactCare Board of Directors. “Both BlueCross BlueShield Venture Partners and Sandbox Industries bring to ExactCare remarkable industry knowledge, networks and resources to support and accelerate the company’s growth—both in existing markets and in new markets across the health care spectrum.”
In conjunction with the investment, Anna Haghgooie, Managing Director at Sandbox Industries, has joined the ExactCare Board of Directors.
“ExactCare’s innovative pharmacy model positions it to have a significant impact on the health of its clients,” Haghgooie said. “ExactCare’s combination of in-home patient assessments, medication reconciliation and refill management come together to create a highly unique pharmacy approach. Working in tandem with health care organizations, ExactCare can have an incredible impact on patient health and health care spend, and I am looking forward to being a part of that.”
ExactCare is licensed to serve patients in 49 states and Washington D.C. The company operates two pharmacies, one in Cleveland, Ohio, and one in Lakewood, New Jersey.
About ExactCare Pharmacy
ExactCare is a full-service pharmacy that specializes in medication management for patients with multiple disease states, on multiple medications. Our comprehensive pharmacy solution includes a unique in-home patient assessment; medication reconciliation and medication therapy management performed by clinical pharmacists; monthly refill management; customized adherence packaging; and home delivery. ExactCare’s approach helps patients overcome the challenges of polypharmacy and health care providers and payers achieve better clinical and economic outcomes. For more information about ExactCare, please visit www.exactcarepharmacy.com
About BlueCross BlueShield Venture Partners
BlueCross BlueShield Venture Partners, L.P. is a corporate venture fund licensed by the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield Plans. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. For more information, please visit www.bcbsvp.com.