Council leads funding round for pharmacy player
Mail order pharmacy outfit NuScriptRX has closed on a $13 million funding package. The $8 million Series C round was led by Council Capital and a $5 million credit facility came from Square 1 Bank.
Joining in the round were other investors such as Clayton Associates and Council’s affiliate TNInvestco Council & Enhanced Tennessee Fund. The round also included three other TNInvestcos; Nest-TN out of Tullahoma, Innova from Memphis, and the Tennessee Angel Fund, an affiliate of the Nashville Capital Network.
“We’re very pleased with the high level of investor interest in NuScriptRX phenomenal growth and transformation of the institutional pharmacy industry,” said Denny Bottorff, managing general partner of Council. “NuScriptRX is exactly the kind of company the TNInvestco program was intended to foster. The four TNInvestcos have invested a total of $3.4 million in NuScriptRX, which is the largest amount collectively invested by TNInvestcos in a single company.”
Council has been involved with NuScriptRX since its earlier life as New Day Pharmacy. Council took over the company in 2009 after it had filed for Chapter 11 protection. The venture outfit then led a $10.2 million funding round for the company.




