BOCA RATON, Fla., Sept. 15, 2016 (GLOBE NEWSWIRE) --
MailMyPrescriptions.com, the nation’s first wholesale pharmacy network, today announced that it has secured $1.6 million in seed capital. The money will pay for the construction of the company’s operations center as well as its own proprietary pharmacy, which will be one of the largest prescription drug mail order facilities in the country.
From the new operations center, technicians will process orders from MailMyPrescriptions.com members and provide clinical care and customer service over the phone. The operation will bring more than 150 jobs to South Florida.
MailMyPrescriptions.com members pay a small quarterly subscription fee to get access to thousands of name-brand and generic FDA-approved prescriptions at wholesale cost through its network of mail-order pharmacies. The unique wholesale pricing model, which is the first of its kind, provides a transparent and affordable alternative to retail pharmacies, where consumers have little insight into how prices are set.
Members of the MailMyPrescriptions.com network are already saving an average of over $1,300 annually per medication, and average household savings is over $4,000 per year.
MailMyPrescriptions.com plans to launch a Series A Preferred private placement offering to raise an additional $3 million. The money will be used to launch a multi-channel advertising campaign during this year’s nationwide open enrollment period. Through this outreach, MailMyPrescriptions.com hopes to spread the word of its price revolution to the more than 50 million uninsured and underinsured Americans who are currently overpaying for their medication.
This comes on the heels of the largest expected Affordable Care Act premium and deductible rate hikes since the law’s inception.
“Americans deserve affordable health care,” said MailMyPrescriptions.com Founder and Chairman Santo J. Leo. “Our wholesale pricing model couldn’t come at a more necessary time for consumers.”
For corporate information about MailMyPrescriptions.com, including employment applications and information about the upcoming Series A offering, visit the parent company’s website at: www.millennialbenefits.com or email info@millennialbenefits.com .
About MailMyPrescriptions.com
MailMyPrescriptions.com is a subscription pharmacy network headquartered in Boca Raton, Florida. For a subscription fee of just a few dollars per month, the network provides access to thousands of FDA-approved drugs at wholesale cost. The revolutionary pricing model allows consumers to purchase their drugs at wholesale cost, helping more than 50 million uninsured and underinsured Americans get affordable prescription medication. For more information, please visit www.MailMyPrescriptions.com .
Jarad Geldner jarad@redbanyan.com (202) 527-9524
