CPE News (8/31/2021) – Box Labs Inc. has raised $400,000 from strategic partners affiliated with the Prince Theodore Group of Pharmacies (PrinceRx).
Founded by Michael Demian, Paul Wang and David Yuan, Toronto based Box Labs is a novel cloud-based clinical services and point-of-sale pharmacy software platform. PrinceRx affiliated pharmacies have been utilizing Box to service their patients during the COVID pandemic.
Box intends to use new funds for marketing and product development as it embarks on expanding its services across the Canadian market.
photo credit: Box Labs
News Release
Box Labs Inc Announces $400k Raise from strategic pharmacy partners
With a significant capital investment Box Labs is poised to continue its growth trajectory in the Canadian Pharmacy Market
TORONTO, Aug. 31, 2021 /CNW/ – Box Labs (“Box” or “the Company”), a novel cloud-based clinical services and point-of-sale pharmacy software platform, is today announcing the completion of a $400,000 capital raise from strategic partners affiliated with the Prince Theodore Group of Pharmacies (PrinceRx).
PrinceRx affiliated pharmacies have been utilizing Box to service their patients during the COVID pandemic. “Box has allowed our pharmacies to streamline communication with patients through seamless registration, appointment features and direct billing to the Ontario Drug Program for COVID testing and vaccinations during the pandemic,” said Michael Nashat, Managing Partner with PrinceRx. “We are excited to work with Box Labs and to continue to use their services for our patients.”
Box tracks customers’ over-the-counter and non-prescription pharmacy purchases and links the customers’ purchases to their profiles, allowing for better patient care. The Box software platform also has a robust clinical intervention module that allows both independent and chain community pharmacies to maximize clinical revenue streams, such as vaccinations, point-of-care testing and other funded clinical services. Box is also the first and only cloud-based dispensing platform that allows users to directly bill clinical services to the Ontario Drug Benefit Program and other third-party payers.
The company was founded in 2019 and has already signed on a number of pharmacies to integrate the Box platform. This allowed Box to validate and refine the platform offering, as it eyes expansion.
Box plans to use the funds from the investment for marketing and product development as it embarks on expanding its services across the Canadian market.
About Box Labs
Box Labs is a first-of-its-kind cloud-based clinical service and point-of-sale pharmacy software platform. The company’s long term vision and mission is to enable fully remote work and bridge the gap between the online and offline experience for community pharmacies. Box strives to be an all-in-one solution that empowers both pharmacy owners and pharmacists to provide the best patient care while maximizing revenue opportunities.
Box has passed necessary conformance tests to be able to bill third-party payers as well as integrate with wholesalers such as McKesson and Kohl & Frisch.
SOURCE Box Labs
For further information: Michael Demian, Chief Executive officer, info@boxlabs.ca