
Trading
Blink Health
Making prescription medications affordable and accessible to everybody.

INDUSTRY
MedTech
STATUS
Trading
OPEN TO
Public
Investment Highlights
Company Overview
Blink Health, founded in 2014 by brothers Geoffrey and Matthew Chaiken, is a digital health company headquartered in New York City. The company aims to make prescription medications more affordable and accessible for all Americans through its innovative online platform. By negotiating directly with the pharmacy industry and eliminating intermediaries, Blink Health offers consumers significant savings on over 15,000 medications.
Users can purchase their prescriptions via Blink's website or mobile app and choose to either pick them up at one of 35,000 participating pharmacies nationwide—including major chains like Walmart and Costco—or have them delivered directly to their homes at no additional cost. This approach not only reduces costs but also enhances convenience for patients.
Since its inception, Blink Health has experienced rapid growth. In 2019, the company expanded its workforce by adding over 150 employees, including more than 50 engineers, to support its burgeoning customer base of 750,000 users. To accommodate this expansion, Blink relocated its headquarters to a 45,000-square-foot space in New York City's SoHo district and opened additional offices in Boston, Pittsburgh, and St. Louis.
The company's innovative approach has attracted substantial investment. In 2017, Blink Health secured $90 million in a Series B funding round led by 8VC, bringing its total funding to $165 million over two rounds.
This financial backing has enabled Blink to continually enhance its platform and expand its services.
Blink Health's commitment to leadership and innovation has been recognized within the industry. In 2023, Co-Founder and CEO Geoffrey Chaiken received the Sweetwater Leadership and Innovation Award, underscoring the company's impact on the healthcare sector.
Despite facing challenges, including legal disputes and market competition, Blink Health remains steadfast in its mission to transform the prescription drug market. By leveraging technology to provide transparent and affordable medication pricing, the company continues to empower consumers and redefine the pharmaceutical landscape.
Blink Health has positioned itself as a disruptor in the $400 billion U.S. prescription drug market by eliminating intermediaries and providing direct-to-consumer pricing transparency. The company’s model allows patients to access prescription drugs at lower prices by leveraging direct negotiations with pharmacy benefit managers (PBMs), pharmacies, and manufacturers. With a rapidly growing user base and the ability to scale nationally through partnerships with over 35,000 pharmacies, Blink Health is well-positioned to capture a significant share of the prescription savings market. As more consumers seek cost-effective healthcare solutions, Blink's model offers scalability without the burden of managing physical infrastructure like traditional pharmacy chains.
The demand for affordable medications in the U.S. is at an all-time high, with rising prescription drug costs continuing to outpace wage growth and insurance coverage limitations leaving many Americans struggling to afford essential medications. Blink Health is tapping into this need by offering substantial discounts on over 15,000 medications. With regulatory and legislative tailwinds favoring drug pricing transparency and affordability, Blink Health's business aligns well with the broader healthcare sector's push for lower-cost alternatives. Additionally, the company’s ability to expand into new areas, such as telehealth and direct prescription delivery, provides further market expansion opportunities.
Blink Health has secured substantial venture capital funding, with notable investors like 8VC supporting its expansion. The company raised $90 million in its Series B funding round, bringing total funding to approximately $165 million. This strong financial backing has allowed Blink to invest in technology, workforce expansion, and new service offerings, strengthening its competitive position. Furthermore, Blink Health has demonstrated an ability to attract top-tier leadership talent, positioning it well for future innovation and execution. The company’s strategic partnerships with major pharmacies and suppliers also enhance its market credibility and provide a foundation for sustained revenue growth.
News
Ask us a Question
Send us a message and we'll connect soon
Become a member
Become a member and elevate your experience with us!
Already have an account? Login