Funding to accelerate new store expansion plans
BOULDER, Colo., March 26 /PRNewswire/ -- 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080326/LAW004LOGO)
"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."
About Pharmaca
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
SOURCE Pharmaca Integrative Pharmacy, Inc.
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Related links:
http://www.pharmaca.com
http://www.hcp.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080326/LAW004LOGO
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Jen Marshall of The Fresh Ideas Group,
+1-303-449-2108, ext. 18, Jen@freshideasgroup.com, for Pharmaca
Integrative Pharmacy, Inc.
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