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  • Pharmaca Completes $18 Million Equity Financing

    October 17th, 2006 No comments

    Investment from Highland Capital Partners Provides Strategic Expertise and Funds for Growth

    Pharmaca Integrative Pharmacy, Inc. a retail chain of integrative pharmacies has raised $18 Million of additional Convertible Preferred Stock. Highland Capital Partners, Lexington, MA, led the financing round.

    The company announced that the capital will be used to accelerate Pharmaca’s new-store expansion plans from its existing 12 locations, as well as further augment the Company’s management team and operational infrastructure. In conjunction with the round, Highland’s Tom Stemberg, will join Pharmaca’s Board of Directors. Stemberg is the founder and former CEO of Staples, Inc.

    “We are very excited about Highland’s financial support and recognition that Pharmaca represents a new, scalable retail concept—a wellness approach combining the scientific rigors of modern pharmacy with complementary and holistic remedies, stated Barry Perzow, Co-founder, President and CEO. Dale Schwartz, Co-founder/Vice-Chairman, added, “Highlands’s investment will position us for rapid growth of our business, and the addition of Tom to our Board of Directors brings relevant and valuable expertise from a seasoned retail innovator.”

    At Highland, Stemberg is focused on investments in consumer goods and services companies, particularly those with concepts that serve a specific demographic consumer. He stated, “As the market innovator, Pharmaca has targeted a very promising healthy lifestyle niche, and we look forward to growing their differentiated retail pharmacy concept in select markets throughout the country.”

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