Digital Pharmacist Inc., an Austin-based software company, has been acquired for $125 million by K1 Investment Management LLC in Los Angeles.
The private equity and venture capital firm, a subsidiary of Mdk Limited Partners Ltd. in South Korea, bought out Austin-based venture capital firm LiveOak Venture Partners LP. LiveOak led a $6.5 million series B round in Digital Pharmacist that closed in 2017.
Digital Pharmacist has developed a software-as-a-service product for about 7,500 independent U.S. pharmacists, powering all their external communications such as text reminders to refill a subscription and marketing emails.
The buyout values Digital Pharmacist at $125 million.
Digital Pharmacist launched in 2010 as RxWiki Inc. It acquired New Jersey-based TeleManager Technologies Inc. in 2017 and rebranded.
This story first ran in the Austin Business Journal. Click here to see the rest of the story [subscriber content].
