TelePharm Announces Acquisition of Telepharmacy Concepts

TelePharm

Iowa City, IA - May 6, 2015 - TelePharm, LLC is pleased to announce the acquisition of Custom Data, Inc., DBA Telepharmacy Concepts, bolstering its mission to provide quality pharmacy care to rural populations, and expanding its presence in the United States.

TelePharm is a leading telepharmacy platform for remote delivery of healthcare services across all areas of medicine, enabling patients to receive personalized care safely and effectively in a consistent, affordable, and convenient manner. Through this acquisition, Telepharmacy Concepts’ customers gain the benefits of a telepharmacy system which improves documentation, accuracy and safety of remote verification and patient counseling.

“We’ve been serving our customers since 2001, and wanted to invest in a new platform to meet the demands of today’s telepharmacies,” said Ryan Jilek, President of Custom Data, Inc. “When we were introduced to TelePharm’s platform, we recognized immediately that it was the future of telepharmacy and wanted to be a part of it. This is a great opportunity for us to increase the quality of service we provide our customers,” said Jilek.

“We’re thrilled to expand our reach and provide long-term, continued access to pharmacies in small communities across the U.S.,” said Roby Miller, TelePharm CEO. “Ryan and I share the same vision of innovating pharmacy care to meet the demands of access to health services with an economical technology solution. We welcome all new customers to the TelePharm family, and look forward to providing high quality care to everyone we serve.”

In addition to the acquisition, TelePharm introduces Michael Busch, founder of Medicine Shoppe International that sold to Cardinal Health in 1995 for $360 million, as Chairman of its Board of Directors. Busch has over 50 years of experience in the pharmacy industry and will work closely with the company to define and scale their operations.

“It’s a great business model,” says Busch. “The technology solution that Roby was able to develop is exactly what the industry needs. TelePharm will continue to be very disruptive in the pharmacy industry.”

“I’m proud to welcome an experienced industry veteran to our team. He brings knowledge and experience to our company that is difficult to find. Michael is an invaluable addition to the company,” said Miller.

About TelePharm: TelePharm is an Iowa-based LLC founded in 2012 by Roby Miller. The company is redefining the pharmacy industry by providing a new pharmacy model for rural communities. TelePharm’s technology is affordable, easy to maintain, and feasible in low-volume rural locations. The company invests in rural communities by opening local pharmacies in underserved areas, and is now powering over 119 pharmacies in 9 states. TelePharm is backed by two of Iowa’s most prolific investors, John Pappajohn and Bruce Rastetter. The company is also a part of Rock Health, a full-service seed fund for digital health startups based in San Francisco.

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