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Recovered Health (formerly Rx Delivered Now) isn't accepting new investments

Recovered Health (formerly Rx Delivered Now)’s deadline was November 30, 2021

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Recovered Health (formerly Rx Delivered Now)

Automating pharmacy logistics and communications
Veteran Founders B2B SaaS Pharmaceuticals & Medicine Manufacturing
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Featured image of Recovered Health (formerly Rx Delivered Now)
$467,022
Raised
928
Investors
Successfully funded and closed on November 30, 2021.
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Pitch Updates 14 Reviews 159
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Closed on November 30, 2021. Information may not be up-to-date. Campaign closed on November 30, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Rx Delivered Now Inc., DBA Recovered Health. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Recovered Health (formerly Rx Delivered Now) Crowd SAFE Rx Delivered Now Form C:A.pdf Rx Delivered Now Form C.pdf
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Hear from some of the 928 people reserved or invested in Recovered Health (formerly Rx Delivered Now)


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Highlights


  • Pharmacy technology ecosystem to accelerate patient access to medications
  • Total Addressable Market (TAM) of $264B as of 2021
  • Access to pharmacy buying groups with over 400 member pharmacies
  • In pilot with pharmacy groups with over 70 member pharmacies
  • Currently operating in CA, which has highest concentration of pharmacies
  • Future markets include Texas, Florida, and Arizona

Problem


Millions of Americans experience delays in medical treatment due to outdated pharmacy systems, 

contributing to the $600B in annual healthcare cost to the US healthcare system

Current pharmacy software is outdated and operates in silos, which causes increased operating costs for the pharmacy owner, provides zero transparency for patients and doctors, and worst of all, poor quality of patient care.

Solution


Automating pharmacy logistics and communications

Rx Delivered Now (RxDN) is a pharmacy technology ecosystem accelerating patient access, visibility, and compliance to medications. Through our platform, we modernize outdated pharmacy systems to streamline and automate workflows, communicate with doctors, and bring medications to a patient’s front door. Our solution improves overall pharmacy operating margins, provides transparency to all care providers, and increases patient access to medications.

Product


Building a new pharmacy technology ecosystem

RxDN is focused on building a new pharmacy technology ecosystem to bring transparency to all healthcare parties involved (patients, doctors, pharmacies, insurers, and regulators), while still delivering the last mile of care for our patients and pharmacy partners. We manage delivery logistics, customer service, and enhance patients' experience with our seamless technologies.

Patients use a mobile app to get notified when their prescriptions are ready at the pharmacy. We send specialized drivers to pick up and deliver prescriptions to the patient’s home within 2 hours. Our app also includes live tracking with an estimated pick-up and delivery time. 

Traction


8K+ independently operated locations in California

RxDN launched in California—which ranks #1 in the US for total pharmacy locations—with approximately 8K operating pharmacies as of 2020, of which over 2K are independently/regionally owned and operated. We have initial traction in the Inland Empire with plans to scale out operations and sales efforts to Orange County, Los Angeles, San Diego, and back north to the San Francisco Bay Area.

We currently have 14 pharmacies paying an average of $500 monthly subscription with annual licenses, and are growing both revenue and delivery volume by 135% month-over-month as of end of May 2021.

Customers


22K independent & regional pharmacy locations in the US

The ideal client persona would be independent and regional pharmacy owners currently doing 500 deliveries monthly. Across the US, this customer base demographic accounts for 22K+ locations.

Business model


Targeting $13M in revenue from deliveries after 2 years

RxDN offers a passthrough fast, reliable, and professional prescription medication delivery service via our courier partners. Our current revenue model is to partner with pharmacies at base monthly subscription of $500/month for our software. In phases 2 and 3, we are growing our revenue sources to include our logistics hub and prescription services.

Market


5B prescriptions by 2025

Based on directing prescriptions to RxDN’s pharmacy partners, we can capture $3.2B of the $264B industry with 88K US pharmacies, of which 22.5K are independent.

Competition


Transforming community pharmacies from dispensary to care providers

RxDN goes beyond delivery by offering a comprehensive solution focused on patient care. Unlike our competitors Scriptdrop and NimbleRx, who solely focus on last mile delivery, our logistic platform equips pharmacies with modern technology solutions to give pharmacists more time to care for their patients.

Vision and strategy


45 new pharmacy locations quarterly

RxDN plans to acquire 45 new pharmacy locations per quarter and integrate with the top 5 largest pharmacy software platforms. We will partner and integrate with 3rd party delivery companies, traditional shipping hubs, and medical courier services. Future markets include Texas and Florida, which are 2nd and 3rd in the US for total number of pharmacy locations, respectively.

Funding


Seeking funds to fuel expansion

We are currently bootstrapping and raising funds to fuel our growth and expansion. We will use the funds to hire more developers, build out our go-to-market team (Sales, Customer Ops, Dispatch), operational costs to fuel our current Rx Delivered Now drivers, and General & Administrative.

Founders


Deal terms


Valuation cap

$6,500,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Recovered Health (formerly Rx Delivered Now) occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Recovered Health (formerly Rx Delivered Now) is accepting.
Learn more

Maximum investment

$100,000

The largest investment amount that Recovered Health (formerly Rx Delivered Now) is accepting.
Learn more

Funding goal

$550K

Recovered Health (formerly Rx Delivered Now) must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $550K.
Learn more

Deadline
Recovered Health (formerly Rx Delivered Now) needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Rx Delivered Now Inc., DBA Recovered Health. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Recovered Health (formerly Rx Delivered Now) Crowd SAFE Rx Delivered Now Form C:A.pdf Rx Delivered Now Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Recovered Health (formerly Rx Delivered Now).
Invest
$150
Receive
  • Access to investor-only updates
Invest
$250
Receive
  • Name on Website in Investor Section – Your name will be added to a special “Investors” section of the Rx Delivered Now website.
Invest
$500
Receive
  • T-Shirt – Grab a piece of RxDN swag!
Invest
$50,000
Receive
  • Dinner with the Co-founders – Have dinner with Anthony and Michael, the co-founders of Rx Delivered Now, in either San Francisco or Miami. Time and place to be scheduled after the campaign. You must provide your own transportation and lodging.
Invest
$100,000
Receive
  • You will be added to a Strategic Advisory council that meets (remotely) quarterly.

About Recovered Health (formerly Rx Delivered Now)

Legal Name
Rx Delivered Now Inc., DBA Recovered Health
Founded
Jun 2020
Form
Delaware Corporation
Employees
0
Website
recoveredhealth.com
Social Media
Headquarters
Google Map location of of Recovered Health (formerly Rx Delivered Now)
2912 Diamond Street 358 , San Francisco, CA
Headquarters
2912 Diamond Street, 358, San Francisco, CA, United States 94131

Recovered Health (formerly Rx Delivered Now) Team
Everyone helping build Recovered Health (formerly Rx Delivered Now), not limited to employees

Profile picture of Dr. Anthony Do, PharmD
Dr. Anthony Do, PharmD
Co-Founder, CEO
Former pharmacist, self-taught software engineer, Neapolitan style pizza lover and UC Berkeley grad. Operating at the crossroads of healthcare and computer science to craft a better patient care experience.
Profile picture of Michael Nguyen
Michael Nguyen
Co-Founder, COO
Former product manager experienced in on-demand work force and Ironman triathlete. Passionate about creating products that improve patient's quality of life.
Profile picture of John Pope
John Pope
Director of Pharmacy
An Operations specialist with a history in SaaS as well as on-demand food and staffing. Currently on a mission to help others and to make the patient care experience smoother, more transparent, and fulfilling for pharmacies and patients alike.
Profile picture of Corey Grissom
Corey Grissom
Director of Sales
Former sales and business development lead at Postmates and enjoys sunny Florida weather. Currently helping pharmacies find more cost effective ways to get medications to their patients.
Profile picture of Mica Pama
Mica Pama
Director of Fleet Operations
Army veteran still jumping out of planes and USC MBA grad. An expert in sourcing workers for on-demand jobs now working to help patients get their medications quicker.
2 more team members
Dr. Anthony Do, PharmD
Co-Founder, CEO
Michael Nguyen
Co-Founder, COO
John Pope
Director of Pharmacy
Corey Grissom
Director of Sales
Mica Pama
Director of Fleet Operations
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Recovered Health (formerly Rx Delivered Now)

Recovered Health (formerly Rx Delivered Now) successfully raised $467,023 from 928 investors on November 30, 2021
Profile picture of Wilson Tsai
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Profile picture of Tirupathi Mangalarapu
Profile picture of Terrance Thompson
Profile picture of Emiliano Aguilar
Wilson, Noah, Tirupathi, Terrance, Emiliano, and 923 others invested. 159 Reviews
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