Healthstore Closes Series A Financing and Moves Quickly to Commercial Launch for Enhance Club and Bolstering Leadership Team
HOUSTON, May 24, 2021 /PRNewswire/ — eHealthcare company Healthstore Holdings Inc. (“Healthstore“) today announced that it has raised US$4M in its series A round funding. The capital will be used to commercialise and monetise the key online assets within its portfolio of digital direct-to-consumer marketing. They will also be building out the team across North America, investing in pharmacy infrastructure, and entering key market segments like chronic care.
“When Mark Catroppa and I founded Healthstore earlier this year, the goal was to build it into the preeminent brand for eHealthcare across North America,” said Monty Sikka, co-founder & Executive Chairman of Healthstore. “We are incredibly fortunate to welcome our Series A investors as partners, and respect the need for transparency, end-to-end compliance, and strong corporate governance principles to steward the company going forward.”
The global healthcare industry is witnessing long-term structural shifts due to technology and Healthstore’s co-founder & Chief Executive Officer states “Healthstore will succeed by providing consumers a technology enabled platform that not only leads to more efficient delivery, but also to more personalised healthcare for all users. We are now uniquely positioned to layer our financial capital and human capital on top of our unique portfolio of digital assets.”
Enhance Club
Enhance Club Canada Launched as the Discreet Solution to Men’s Sexual Health & Wellness Concerns
Enhance Club is a digital platform to address sexual health and well-being that is now serving Canadians. Erectile dysfunction impacts the lives of millions of men across the US and Canada, many of whom are not addressing the issue. With no wait times, long lines or booking of appointments, Enhance Club can provide everything – from licensed healthcare provider consultations to valid prescriptions issued in just a few clicks.
“Enhance Club is as real as it gets. Our commitment to our customers is expressed through our values and commitment to compliance, plus the safety and quality of our products and digital services,” says Jodhvir Sarai, M.D., Chief Medical Officer at Healthstore. Enhance Club delivers the convenience of a health clinic, the service of a local pharmacy, and the security of a doctor’s office – and all from the privacy of your home.
Enhance Club will be launched in the US in the near future and be closely followed by large-scale commercial launches of Healthstore’s other digital assets. These include healthstore.com, birthcontrol.com and pet.net.
Strengthened Leadership Team
Healthstore Appoints Two New Executives with Global Experience and Execution Capabilities to Disrupt the Healthcare Industry
Jodhvir Sarai, M.D. has been appointed as Chief Medical Officer of Healthstore. In addition to leading all medical activities at Healthstore, Dr. Sarai will personally spearhead the company’s strategic move into chronic care across the US with an emphasis on technology driven solutions to enhance medication adherence for all consumers.
After obtaining his medical license in 2010, Dr. Sarai has developed a strong acumen for scaling businesses in the healthcare industry and means of bringing the worlds of science and business together. This was made possible through his time serving as the medical director for regional hospital groups (Utah Regional Hospitalist and Swenson Healthcare in Washington) and as Vice President for Operations at TM Technologies and the Chief Medical Informatics Officer at Carondelet Hospital Network (Arizona).
Dr. Sarai has also been responsible for founding private technology companies with values in excess of US$500 million along with playing the leading role in creating virtual health platforms across the US.
Karim Salamatian, CFA has been appointed Chief Financial Officer of Healthstore. Following a 15-year career with top-tier investment banks including Credit Suisse and BMO Capital Markets in Toronto, London and Hong Kong, Karim joined the start-up world in 2015 and helped build value in excess of US$700 million across a number of private ventures.
With 20-years of focus on consumer-facing businesses across five continents, Mr. Salamatian brings tremendous experience in capital raising, M&A and strategic partnerships for both public and private companies. His expertise with building financial systems & controls, corporate governance practices and growth expansion makes Karim ideally suited to lead all finance, capital raising, investor relations and strategy functions for Healthstore.
“We delighted to add two high calibre executives to Healthstore at an early stage,” said Monty Sikka. “Attracting world-class talent with global experience scaling disruptive companies is a testament to the vision of Healthstore and the market opportunity.”
About Healthstore
Healthstore Holdings Inc. was founded in 2020 and is focused on redefining customer experiences and personalization in eHealthcare through a vertically integrated Rx platform. Healthstore is uniquely positioned in the industry given their portfolio of digital assets and the industry’s only ‘plug-and-play’ digital platform that is capable of supporting rapid business growth, from sourcing through to virtual health delivery. Healthstore is committed to the goal of diversity and race & social equality in all communities it operates in so that all employees, partners, and customers face no barriers to individual achievement.
Contact Details:
Karim Salamatian, Chief Financial Officer
Karim.salamatian@healthstore.com
+1-778-700-8813
Mandeep Khara, Chief Growth Officer
Mandeep.khara@healthstore.com
+1-725-7794
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SOURCE Healthstore Inc.
