WEXFORD, Pa., Nov. 17 /PRNewswire/ -- Millennium Pharmacy Systems, a privately-held healthcare company providing contract pharmacy services to the long term care industry, announced the recent completion of a $14.5 million equity financing. CHL Medical Partners led the capital raise and was joined by Boulder Ventures. Both firms are new investors in the company.
“We are pleased to complete this major round of financing and to accelerate the growth of our innovative business, and we believe that the MPSRx system is now poised to improve the standard of medication management in the nursing home,” said Gary Duty, President and Chief Executive Officer of MPS. Mr. Duty co-founded MPS in July 2000 with William Gatti and Steven Brody, successful entrepreneurs in the institutional pharmacy and long-term care businesses. The senior management team also includes Lena Sturgeon, a seasoned long-term care pharmacy and skilled nursing facility executive, as Chief Operating Officer.
“We are excited about MPS’ demonstrated ability to improve both the care of nursing home patients and the efficiency of the customer facility, and we are pleased to join this proven team of entrepreneurs and managers,” said Myles Greenberg, a Partner at CHL Medical Partners, who joined the MPS Board of Directors in connection with this financing.
In addition to Dr. Greenberg, the company’s current Board has been expanded to include Jonathan Perl, a Partner at Boulder Ventures.
About Millennium Pharmacy Systems, Inc. (http://www.mpsrx.com)
Millennium Pharmacy Systems is a pioneer in the field of medication management systems for the long term care industry. The company utilizes advanced information handling technologies and informatics-driven logistics to provide a virtually error-free environment for managing and administering medications for residents of nursing home facilities. For further information please visit http://www.mpsrx.com.
About CHL Medical Partners (http://www.chlmedical.com)
CHL Medical Partners is a healthcare venture capital firm founded in 1990, managing funds with combined committed capital of more than $250 million. CHL invests principally in start-up and early stage companies in the biotechnology, medical devices, and healthcare services sectors located throughout the continental U.S. CHL is based in Stamford, CT.
About Boulder Ventures (http://www.boulderventures.com)
Boulder Ventures manages over $250 million in venture capital partnerships, making equity investments in start-up, early stage and emerging growth companies. Boulder Ventures primarily seeks opportunities in enterprise software, Internet-based business applications and services, communications infrastructure and services and life sciences tools and services. BV works in partnership with entrepreneurs, providing easily accessible, active support to develop novel business concepts into important companies. Boulder Ventures has offices in Owings Mills, Maryland and Boulder, Colorado. Please visit our website at http://www.boulderventures.com.
Source: Millennium Pharmacy Systems, Inc.
