Healthstore Closes Series A Financing and Moves Swiftly to Launch Enhance Club and Virtual Care Network While Bolstering Leadership Team

NEWARK, Del., May 24, 2021 /PRNewswire/ -- eHealthcare company Healthstore Holdings Inc. ("Healthstore") today announced that it has raised US$4M in its series A round funding. The capital will be used to commercialize and monetize the key online assets within its portfolio of digital direct-to-consumer marketing. They will also be building out the team across North America, investing in pharmacy infrastructure, and entering key market segments like chronic care. 

"When Mark Catroppa, Dr. Sarai and I founded Healthstore earlier this year, the goal was to build it into the preeminent brand for eHealthcare across North America," said Monty Sikka, co-founder & Executive Chairman of Healthstore. "We are incredibly fortunate to welcome our Series A investors as partners, and respect the need for transparency, end-to-end compliance, and strong corporate governance principles to steward the company going forward." 

The global healthcare industry is witnessing long-term structural shifts due to technology and Healthstore's co-founder & Chief Executive Officer Mark Catroppa states, "Healthstore will succeed by providing consumers a technology enabled platform that not only leads to more efficient delivery, but also to more personalized healthcare for all users. We are now uniquely positioned to layer our financial capital and human capital on top of our unique portfolio of digital assets."

Launching Enhance Club  

Enhance Club Canada Launched as the Discreet Solution to Men's Sexual Health & Wellness Concerns

Enhance Club (www.enhanceclub.com) is a digital platform to address sexual health and well-being that is now serving Canadians. Erectile dysfunction impacts the lives of millions of men across the US and Canada, many of whom are not addressing the issue. With no wait times, long lines or booking of appointments, Enhance Club can provide everything - from licensed healthcare provider consultations to valid prescriptions issued in just a few clicks. 

"Enhance Club is as real as it gets. Our commitment to our customers is expressed through our values and commitment to compliance, plus the safety and quality of our products and digital services," says Jodhvir Sarai, M.D., Chief Medical Officer at Healthstore. Enhance Club delivers the convenience of a health clinic, the service of a local pharmacy, and the security of a doctor's office – and all from the privacy of your home. 

Enhance Club will be launched in the US in the near future and be closely followed by large-scale commercial launches of Healthstore's other digital assets. These include healthstore.com, birthcontrol.com and pet.net.  

Launch of Virtual Care Network

Healthcare is proud to announce that in relatively short order following the close of Series A financing, it has been able to establish a virtual health network across all 50 states of the US whereby customers can conduct both synchronous and asynchronous visits with licensed physicians.

"The ability for our customers to access licensed physicians in all 50 states and 24 hours per day demonstrates our ability to not only offer personalized care experiences but our ability to develop the infrastructure necessary to enhance our vertically integrated digital healthcare model," says Healthstore co-founder and Chief Medical Officer Jodhvir Sarai, M.D.

Dr. Sarai who is responsible for all of Healthstore's medical operations will spearhead the company's strategic move into chronic care across the US with an emphasis on technology driven solutions to enhance medication adherence for all consumers.  The robustness of Healthstore's virtual care platform will be essential to offering chronic care customers personalized solutions to enhancing their health outcomes.

"Dr. Sarai has a strong acumen for scaling businesses in the healthcare industry and means of bringing the worlds of science and business together.  His experience in founding private technology companies with values in excess of US$500 million along with playing the leading role in creating virtual health platforms across the US, positions Healthstore in a unique competitive position in an industry that is not only growing rapidly but that is becoming increasingly accountable to enhancing delivery of healthcare," says Monty Sikka. 

Strengthened Leadership Team 

Healthstore Appoints Executive with Global Financial Services Experience and Execution Capabilities to Help Disrupt the Healthcare Industry 

Karim Salamatian, CFA has been appointed Chief Financial Officer of Healthstore. Following a 15-year career with top-tier investment banks including Credit Suisse and BMO Capital Markets in Toronto, London and Hong Kong.  Karim joined the start-up world in 2015 and helped build value in excess of US$700 million across a number of private ventures.  

With 20-years of focus on consumer-facing businesses across five continents, Mr. Salamatian brings tremendous experience in capital raising, M&A and strategic partnerships for both public and private companies. His expertise with building financial systems & controls, corporate governance practices and growth expansion makes Karim ideally suited to lead all finance, capital raising, investor relations and strategy functions for Healthstore. 

"We are delighted to add Mr. Salamatian to Healthstore at an early stage," said Mark Catroppa. "Attracting world-class talent with global experience scaling disruptive companies is a testament to the vision of Healthstore and the market opportunity.  We look forward to Mr. Salamatian's contributions and guidance to enhance Healthstore's value for all stakeholders."

About Healthstore 

Healthstore Holdings Inc. was founded in 2020 and is focused on redefining customer experiences and personalization in eHealthcare through a vertically integrated Rx platform.  Healthstore is uniquely positioned in the industry given their portfolio of digital assets and the industry's only 'plug-and-play' digital platform that is capable of supporting rapid business growth, from sourcing through to virtual health delivery. Healthstore is committed to the goal of diversity and race & social equality in all communities it operates in so that all employees, partners, and customers face no barriers to individual achievement. 

Contact Details: 

Karim Salamatian, Chief Financial Officer 
[email protected]  
+1-778-700-8813 

Mandeep Khara, Chief Growth Officer 
[email protected] 
+1-604-725-7794 

SOURCE Healthstore Inc.