London/Glasgow-based Phlo has acquired the UK arm of Hayward, California-based API-connected healthcare infrastructure provider Truepill for an undisclosed sum.
However, given that the company disclosed a £10 million Series A round in which the founder and CEO Nadeem Sarwar stated, “We have a very busy roadmap ahead and some incredibly exciting opportunities to take advantage of in 2023 and beyond,” I’ll let you connect the dots.
The acquisition means that Phlo is purchasing Truepill’s partnerships with several UK digital healthcare providers including The Lowdown, Levels, Daye, Hanx, and Veri as well as the company’s tech stack including the full set of APIs and prescribing technology.
“Phlo’s acquisition of Truepill UK marks a hugely significant moment in the evolution of digital healthcare in the UK. We’re delighted that this market consolidation will enable further improvements to the excellent service that Phlo offers to patients and partners, and also allow us to extend that service by welcoming new patients and partners across the country,” said Sarwar.
As Tech.eu has previously covered: Phlo Digital Pharmacy is already live in Birmingham and London. Availability in another major UK city, Manchester, is anticipated later this year.
The platform launched in 2020 and so far has processed more than 110,000 orders. Given competition to reach more UK markets, Phlo will utilise the series A cash to scale operationally, principally striking up more partnership deals with healthcare providers.
Phlo has a second product on its radar. With its Phlo Connect platform, it wants also to provide digital pharmacy infrastructure for third parties. It's a crucial piece of the puzzle as far as the UK's digital health space is concerned, allowing non-physical clinics to integrate pharmacy services with their existing digital offerings. Babylon, the digital doctor's surgery, has already signed up as fellow e-health players SkinDoc, Syrona Health, and Dermatology Partnership.
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