GoodRx valued at $2.8bn after Silver Lake investment
One of the leading prescription companies in the US, providing significant savings to consumers, GoodRx has revealed that technology investor, Silver Lake, has provided investment to cater to the business’ strategic growth.
Silver Lake is the global leader in technology investing, with about $40bn in combined assets under management and committed capital, with a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, Hong Kong and Tokyo.
GoodRx delivers current prices and discounts for prescriptions at pharmacies across the US, where its website and mobile apps have supported those struggling with escalating healthcare costs in the country. GoodRx is the #1 medical app on the iOS and Android app stores.
Over 10mn citizens use GoodRx each month to lower the cost of their healthcare, and more than one-third of US doctors provide information about GoodRx to their patients.
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"We're excited to welcome Silver Lake to the GoodRx family," said Doug Hirsch, Co-CEO of GoodRx. "Silver Lake's proven track record as a technology investor will advance GoodRx's mission of making healthcare more affordable for all Americans." Silver Lake joins current investors Francisco Partners and Spectrum Equity to help drive the company's next phase of growth.
"At GoodRx, we believe consumers deserve a simpler approach to understanding the cost of their healthcare," noted Trevor Bezdek, Co-CEO of GoodRx. "Our new partnership with Silver Lake enables us to continue to deliver innovative solutions that help Americans understand and reduce their healthcare costs."
"GoodRx's significant, growing digital platform has simplified the prescription drug market through increased transparency and lower prices in a short amount of time," added Greg Mondre, Managing Partner and Managing Director, and Adam Karol, Director, both of Silver Lake.
"We look forward to working with Trevor, Doug and the entire GoodRx team in their mission to broaden consumer access to critical prescription drugs and to enhance consumer price transparency in the next phase of their evolution." Mr. Mondre and Mr. Karol will join the company's board.