Truepill

Truepill is a digital health company founded in 2016 that provides pharmacy fulfillment services and technology solutions for healthcare organizations. The company offers a B2B application program interface (API) that enables pharmacy fulfillment, delivery, white label packaging, and product design. Truepill's platform encompasses three core pillars: telehealth, diagnostics, and pharmacy fulfillment. As of October 2021, Truepill had delivered over 20 million prescriptions to 3 million patients across all 50 US states.

The company operates multiple pharmacy fulfillment centers across the US, utilizing automation and robotics to efficiently process prescriptions. Truepill focuses on a small number of high-volume medications, with ten drugs representing 80% of its volume. This concentration allows the company to negotiate costs with pharmaceutical companies and pharmacy benefit managers. Truepill's business model positions it as a behind-the-scenes player, providing infrastructure for other healthcare brands rather than competing directly with traditional pharmacies.

In addition to prescription fulfillment, Truepill offers a virtual pharmacy platform, diagnostics services, and a telehealth network. The company's diagnostics platform provides access to over 3,000 at-home or in-person lab tests through CLIA-certified labs. Truepill's telehealth capabilities can facilitate up to 50,000 virtual doctor visits per week.

In December 2022, Truepill faced allegations from the US Drug Enforcement Administration (DEA) regarding the unlawful dispensing of controlled substances, particularly stimulants used to treat ADHD. The company subsequently paused prescriptions for these medications. In November 2023, Truepill settled with the DEA, accepting responsibility for operating an unregistered online pharmacy and filling prescriptions in violation of federal law.

Truepill experienced significant growth and raised substantial funding, reaching a USD 1.6 billion valuation in October 2021. However, the company faced challenges in 2022, including multiple rounds of layoffs and a shift in focus back to its core pharmacy operations. In August 2023, co-founder Sid Viswanathan stepped down as CEO. In November 2023, Truepill disclosed a data breach affecting 2.3 million individuals, compromising personal and health information.