Link-Age, a US group backed by several non-profit assisted living centres, has invested in senior citizen-focused pharmaceutical retailer Skilled Care Pharmacy in return for a “substantial” equity stake.
Link-Age’s investment in Skilled Care Pharmacy used its for-profit investment arm, Link-Age Ventures.
Following the investment, Larry Galluzzo, founder and chief executive of Skilled Care Pharmacy, retains majority ownership of his firm.
Prior to the investment, Skilled Care Pharmacy already provided services to Link-Age’s members. The two companies are now looking to build new “value added” programs to benefit both Skilled Care and Link-Age’s customers.
The capital raised will be used to “position the company for growth and to accelerate the adoption of new technologies, such as remote dispensing”.