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MyRx365

MyRx365 is a digital pharmacy using AI to increase medication adherence leading to better health outcomes.

MyRx365 is accepting investments for an Offering under Regulation D through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. The contents of the Highlights, Term Sheet sections have been prepared by SI Securities, LLC (“SI Securities”) and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by MyRx365 without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.


Company Highlights

  • The company received 8,957 and 26,944 prescriptions in 2017 and 2018 respectively.
  • Prescription revenue increased from $1,179,172 in 2017 to $6,760,769 in 2018 (unaudited).
  • Average gross profit per prescription $153.22 versus industry average of $11.53.
  • The company currently has more than 18,000 patients in its database.
  • Company was cash flow positive in 2018 (unaudited).

Fundraise Highlights

  • Total Amount Raised: US $626,750
  • Total Round Size: US $3,000,000
  • Raise Description:  Seed
  • Minimum Investment:  US $10,000 per investor
  • Security Type:  Preferred Equity
  • Pre-Money Valuation:  US $50,000,000

MyRx365 seeks to change the current pharmacy paradigm by putting patients in charge of their prescription management through its unique set of technology-enabled patient engagement tools.


Large and Fragmented Market: The US Independent Pharmacy industry is a $81B+ market with more than 22,000 independent pharmacies dispensing approximately 36% of the US retail prescription medicines. This has created an opportunity that can reap economies of scale, build regional and national brands, leverage best practices across all aspects of marketing and operations, and have a stronger team than what small businesses could previously afford.

The MyRx365 Pharmacy Model is Disrupting the Pharmacy Industry: By targeting select patients and prescriptions, the Company has been able to greatly increase margins. The industry average for Independent pharmacies is approximately $11 gross profit per prescription (Gross Revenue – COGS = Gross Profit). MyRx365 gross profit per prescription in 2018 was $153.22. The company has been able to raise this margin through targeting and using AI to analyze patient data, stock inventory intelligently and decrease operational costs. In 2017 the company received  8957 prescriptions. Prescription volume increased to 26,944 in 2018. As a result, revenue increased from ~$1.1MM in 2017 to ~$6.7MM in 2018.

Attractive Operating Economics: MyRX365’s digital pharmacy platform helped increased gross margins to 55%+ (vs. industry average of 21%) and on an annual recurring basis. Gross margin per target patient (three prescriptions per year) is approximately $1,440 annually. Customer acquisition cost is less than $40 per patient.

Product & Service

MyRx365 is a digital pharmacy using AI and data analytics to optimize margins on prescription drug delivery. The company purchased a brick-and-mortar pharmacy on August 2017, started operating as MyRx365 shortly after and then acquired a telemedicine platform (RealTime Clinic) with a top-notch management team in January 2019. The company is utilizing an innovative growth strategy for its platform by acquiring additional independent brick-and-mortar pharmacies and converting them onto its digital solution. MyRx365 has an identified roll-up portfolio of 20 locations. MyRx365 leverages data-driven technology, patient engagement tools, physician engagement tools and a differentiated marketing strategy that targets higher fill rates and higher-margin prescriptions for patients with chronic disease. Using online and app-based tools, the company perfects a real-time engagement solution, which includes patients, physicians and pharmacies, and services all 365 days a year.

The digital platform seeks to disrupt the pharmacy fulfillment space by creating a technology-enabled and patient-focused experience. Fueled by an online and mobile-enabled service model, patients are provided with different engagement tools to stay on their care plan and increase medication adherence. Some of the features include:

▪ Save on copays as the software automatically looks for coupons

▪ For chronic disease patients, Medication Therapy Management helps them overcome barriers to adherence and address gaps in therapy.

Medication synchronization places all medications on one cycle, synchronizing multiple due dates into one delivery.

Single-dose packaging is offered to help address confusion over multiple medications and difficulties opening/sorting pill bottles.

▪ Online and app-based tools provide patients a digital solution to stay on their care plan and maintain medication adherence.

▪ Patients can schedule convenient delivery times for medication, eliminating a major cause of nonadherence – not picking up medications.

▪ Using the telemedicine platform, patients can talk directly with a pharmacist, to discuss issues or questions related to medications.

Through its automated suite of software and fulfillment tools, the company serves patients 365 days a year through its full-service delivery teams while ensuring that their health and medication histories are stored in a single place.

Our backend pharmacy management platform is integrated with multiple data streams allowing the system to identify higher margins medications at lower supply costs. By leveraging AI and machine learning, the system can effectively predict pricing changes. Additionally, the software is able to identify which patients and physicians to market to.  

By using the features of this software we are able to drive higher margins. Our revenue comes solely from the fulfillment of prescriptions and we receive payment from insurance companies and/or PBMs. 

Media Mentions

Team Story

MyRx365's Founder and CEO, Mohammad Ali,  is a physician by education and accomplished deal maker who has successfully executed real estate, international finance, and M&A transactions up to $750 million in size. While earning his M.S. in Health Care Delivery Leadership from Mt. Sinai, he realized that the pharmacy space was ripe for disruption. Patients with chronic diseases needed more services than just free delivery, rather they needed a solution that brought the patient, physician and pharmacy under one platform and MyRx365 was born.  He used his investment management experience as former CEO of a multifamily office and as the Chief Medical Officer of HealthPure  into building a business that is cash flow positive. He has a LEAN Green Belt in Health Care and is a member of ACHE and AAPL.

In 2019 RealTimeClinic, a StartUp Health portfolio company, was acquired and Nehal Swami was brought on as CTO and Scott Alpard as COO. Nehal was awarded "Top 100 Healthcare Leaders" in 2019 & a speaker @ SXSW, JP Morgan Health. Scott, has 25 years of healthcare experience and sits on the Board of Directors of the American Society of Plastic Surgeons and is the President of  the Cade R. Alpard Foundation for Pediatric Liver Disease.

Founders and Officers

Mohammad Ali, M.D.

Founder & CEO

Physician w/ Investment Management background. Former Chief Medical Officer @ HealthPure. Previously CEO of multifamily office. Extensive international financing experience structuring governmental partnerships. Worked with EBRD to structure PPP w/ governmental entities. Advisory work for multiple overseas Health Ministries. Involved in over $500MM of real estate transactions. 

Mohammad Ali, M.D.

Founder & CEO

Physician w/ Investment Management background. Former Chief Medical Officer @ HealthPure. Previously CEO of multifamily office. Extensive international financing experience structuring governmental partnerships. Worked with EBRD to structure PPP w/ governmental entities. Advisory work for multiple overseas Health Ministries. Involved in over $500MM of real estate transactions. 

10+ years of digital health experience, before joining MYRX365. Former founder and CEO at RealTimeClinic (a StartUp Health accelerator company). A thought leader in digital health design and has spoken at events such as SXSW (South by Southwest), JPM Health Conference, and Oracle. Most recently awarded Top 100 Healthcare Leaders Award in 2019.

Nehal Swami

CTO

10+ years of digital health experience, before joining MYRX365. Former founder and CEO at RealTimeClinic (a StartUp Health accelerator company). A thought leader in digital health design and has spoken at events such as SXSW (South by Southwest), JPM Health Conference, and Oracle. Most recently awarded Top 100 Healthcare Leaders Award in 2019.

Key Team Members

Scott Alpard

COO

Sheheryar Sardar

General Counsel

Notable Advisors & Investors

Armand Dorian, M.D.

Advisor, Chief Medical Officer - USC-VHH

Leonard Achan

Advisor, Chief Innovation Officer - Hospital for Special Surgery

Syed Nasir, M.D.

Advisor, Anesthesiologist - Former Director of Chronic Pain Clinic Memorial Hermann

Ali Khan, M.D.

Advisor, Associate Medical Director of Hospital Medicine - SUNY Upstate

Harvey Himmel, M.D.

Advisor, Plastic Surgeon - Medical Director of Wound Center at Mount Sinai Hospital

Deepjot Singh, M.D. MMM

Advisor, Chair of Medical Staff Performance Improvement Comm., TMMC

Jose Tiburcio, M.D. M.S.

Advisor, Associate Chair of Family Medicine - Bronx Lebanon Hospital Center

Umesh Gidwani, M.D. M.S.

Advisor, Chief of Cardiac Critical Care, Mount Sinai Hospital

Ricky Cameron, M.D.

Advisor, Emergency Medicine Physician - CHRISTUS Health

Donald Cross, M.D.

Advisor, Cardiologist - Waco Cardiology Associates

Rick Ngo, M.D.

Advisor, General Surgeon, Memorial Hermann Hospital System

Sharad Swami, M.D.

Advisor, Cardiologist

Investor Perks

First 100 investors automatically receive “MyRx365” branded apparel regardless of investment size. We'll send you a list of our merchandise and sizes available two weeks after the campaign ends before shipping.

$10,000 – Newly designed MyRx365 t-shirt.

$100,000 – Above plus participation in regularly scheduled quarterly call with MyRx365 senior management.

$250,000 – Above plus  paid airfare (domestic or domestic equivalent airfare towards international) to a MyRx365 location for in-person investor tour and dinner with management. Also includes invitation to annual updates (dinners, calls, etc.) with the MyRx365 senior management team.

It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

Frequently Asked Questions

Making an Investment in MyRx365
How does investing work?

When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by MyRx365. Once MyRx365 accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to MyRx365 in exchange for your securities. At that point, you will be a proud owner in MyRx365.


What is the difference between preferred equity and a convertible note?

Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.

A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.

To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.


What will I need to complete my investment?

To make an investment, you will need the following information readily available:

  1. Personal information such as your current address and phone number
  2. Employment and employer information
  3. Net worth and income information
  4. Social Security Number or passport
  5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

Because MyRx365 is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


What if I change my mind about investing?

Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.


After My Investment
How can I sell my securities in the future?

Currently there is no market or liquidity for these securities. Right now MyRx365 does not plan to list these securities on a national exchange or another secondary market. At some point MyRx365 may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when MyRx365 either lists their securities on an exchange, is acquired, or goes bankrupt.


How do I keep track of this investment?

You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.


Other General Questions
What is this page about?

This is MyRx365's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.


What are the risks of this investment?

This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in MyRx365’s profile.