HealNow

Market position

HealNow targets the large share of the pharmacy market that remains offline for payments: its lead investor cites over $423B in in-person or keyed pharmaceutical transactions and more than 70,000 pharmacies unable to accept online payments, with most online payment processors avoiding pharmacy as a high-risk category. The company positions itself as bringing to independent and mid-market pharmacies the kind of online checkout that large chains such as CVS, Walgreens and Rite Aid have built in-house. Bonfire Ventures stated it expects HealNow to become the default checkout solution for the pharmacy industry.

HealNow is purpose-built for pharmacy rather than a general-purpose processor, acting as the payments processor itself and absorbing third-party credentialing, high-risk merchant underwriting and regulatory complexity that pharmacies would otherwise face. Other stated differentiators include no app or login for patients, split payment across two cards, HSA/FSA acceptance, built-in HIPAA, PCI and TCPA compliance without additional vendors or third-party audits, deep PMS integrations, API access and a white-labeled checkout, and a leadership team with prior healthcare and pharmacy software experience.

Technology

An online payments infrastructure platform combining checkout, invoicing, card-on-file, split-card payments and support for HSA, FSA, credit, debit and mobile wallets with two-way patient messaging and automated refill flows. The platform integrates via API with pharmacy management systems such as PioneerRx, Liberty, Keycentrix, PK and ComputerRx, exposes developer tools for custom flows and multi-location deployments, and is built to HIPAA, PCI (including PCI DSS compliance of its payments system) and TCPA requirements. HealNow also handles KYC and underwriting with card networks, regulators and banks on behalf of pharmacies, and can integrate third-party delivery services.

Go-to-market

HealNow sells directly to pharmacies through demo requests and a customized onboarding process in which its team connects the pharmacy management system and trains staff, with most pharmacies going live in under a week. It supports customers with onboarding, live support and a dedicated pharmacy success team. Distribution is amplified by partnerships with healthcare and pharmacy industry organizations including Omnicell, NCPA and APC, by PMS integrations, and by sponsorship of pharmacy industry bodies. Enterprise customers can deploy a white-labeled checkout via API.

Pharmacies of all sizes and verticals: independent retail pharmacies, mid-size and multi-location operators, enterprise and national pharmacy networks and fulfillment hubs, plus specialty and mail-order, compounding, hospital and outpatient, long-term care, university and veterinary pharmacies. Named customers include Curexa Pharmacy, Solutions Pharmacy, Ahma RX, HillCrest Pharmacy, Local Health and Bald Eagle Pharmacy.

Geography

United States. The seed announcement was issued from New York and describes hundreds of pharmacies across the country. Earlier coverage described the company as established in the Midwest, West Coast and Southwest while expanding into the eastern United States, including plans to open an office in Birmingham.

History

Founded in 2018, HealNow gained attention during the COVID-19 pandemic as pharmacies sought contactless ordering, payment, curbside pickup and delivery. It raised an early-stage round of $1.3 million led by SoftBank Opportunity Fund and Alabama Futures Fund, bringing reported equity funding to about $1.4 million, and used the proceeds to expand from its base in the Midwest, West Coast and Southwest into the eastern United States, including opening an office in Birmingham. In September 2023 the company announced a $5.5 million seed round led by Bonfire Ventures and, on the same day, partnerships with Omnicell, NCPA and APC along with integrations to pharmacy management systems. The company subsequently announced that HealNow is being renamed Tabz, keeping the same team and platform.

Risks & controversies

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