UrgentRx, a Denver, CO-based producer of portable OTC medications, closed on $17.5m of Series C growth capital.
The round was led by an undisclosed family office with participation from previous investors including Sam Zell, David Bonderman, Randall Kaplan / JUMP Investors and Boulevard Capital Management LLC. In conjunction with the capital raise, Michael Valentino, former CEO of Adams Respiratory Therapeutics, manufacturer of Mucinex® and Delsym®, will become Chairman of the Board.
The company intends to use the funds for additional distribution opportunities as well as for a national marketing campaign.
Founded in 2010 by CEO Jordan Eisenberg, UrgentRx produces a line of fast-acting, portable OTC medications. Its Fast Powders™ are fast-acting flavored powder medications in patented credit card-sized packets. They can be taken without water, providing relief for a wide variety of everyday ailments, including allergy attacks, headaches, aches and pains, heartburn, and upset stomach, as well as a heart attack first aid.
The line is sold in all classes of trade, including Food, Drug, Mass and Convenience.
FinSMEs
17/07/2014