Back to top
Raised to Date: 
$22,000

88%
Pledged:
Invest Now
 Invest Now
ID: 
BRX-CF-2022
Exemption: 
REG-CF
Issue Type: 
Simple Agreement for Future Equity
Terms: 
The SAFEs will convert upon an “Equity Financing” event at a discount of 10% – 20%. Terms subject to full offering documents.
Accredited Only: 
No
Reviewed Financials: 
No
Target Goal: 
$124,000
Minimum Goal: 
$25,000
Minimum Investment: 
$1,000
Suggested Investment: 
$5,000
Additional Investments: 
$1,000
Maximum Goal: 
$124,000
Raise Start Date: 
Tuesday, November 1, 2022
Raise End Date: 
Saturday, April 29, 2023
Raise Target Date: 
Saturday, December 31, 2022

Offering securities for sale pursuant to Regulation Crowdfunding (REG-CF). Our Form-C has been filed with the SEC.

View the Company Search Results Link to EDGAR to view the Form C filing.

Balto Rx is breaking barriers to medications access through disruptive digital delivery tools!

As an investor, we know you have many options to invest. The digital logistics sector has been one of the most sought after investment markets due to exponential growth in technological advancements. Balto Rx is capitalizing on this trend by revolutionizing medication delivery services through the use of our digital platform, called Balto Intelligent Platform (BIP). The BIP provides user-friendly tools to help all pharmacies, hospitals, clinics, and patients get their prescriptions delivered to their home within hours. Additionally, Balto Rx is the only home delivery company that provides pharmacist-patient video consultation in real-time. We strive to be patient-centric and break barriers to medication access so millions of people nationwide can improve their health and wellbeing. If you believe in medication accessibility and growing your investment portfolio in digital logistics, then choose Balto Rx. Investing in us would help improve the lives of millions of people with limited access to medications–investing in us is an investment for good. 

The Problem

What problem are you trying to solve and for who?

According to CMS (Centers for Medicare and Medicare Services) up to 30% of patients do not have access to their medications. Due to the increased cost of healthcare over the last decade in the United States, there are decreased rates of medication adherence. Research shows the lack of medication adherence is often a result of patient forgetfulness, high cost, inability to get prescriptions filled, and limited access to pick-up or delivery options. This results in billions of dollars in lost revenue.

At its core, Balto Rx is a patient-centric home delivery system for medical prescriptions. But I believe it’s so much more than that. We are providing a critical service to many individuals and families who may not have adequate access to transportation, the ability to leave their homes, or time to run even a quick errand due to demanding life schedules. And, as one of the 130 million adults in America who has been diagnosed with Diabetes, I understand how crucial medications can be in maintaining a healthy lifestyle. We strive to increase access to the millions of people who are impacted by all chronic illness and health challenges. 

The Opportunity

What competition do you have and why are they not addressing the problem effectively now?

Hospitals, healthcare workers, insurance companies, and other leaders in the industry have sought to increase accessibility of medications by creating delivery systems. However, the most current delivery programs are not effective and more importantly do not address immediacy; meaning it can take up to 2-5 business days for a medication to be delivered. Other large retailers are also focused on delivering solely to their own clientele, leaving out millions of people who need medications. Balto Rx is the only direct service provider focused on patient-centered care and improving access to prescriptions by delivering medications to the patient within hours of a request. 

How big is the revenue opportunity for the addressable market you serve?

Timely prescription delivery is the cornerstone of an effective healthcare infrastructure. With approximately 70,000 pharmacies in the United States, the prescription delivery services are set to experience a significant growth of 17.8% CAGR (compound annual growth rate) from 2022 to 2030. Ultimately, prescription delivery services market sales will reach a value of in the range of $500+ million by 2029.  

Statistics show over 5 billion medical prescriptions were dispensed in the United States in 2020, and that number is steadily increasing every year. Less than 1% of those 5 billion prescriptions were delivered, which leaves a 99% open market for prescription delivery. Balto Rx is filling this gap with daily and on-demand services that provide prescription deliveries within hours. 

Currently, Balto Rx has delivered 30,000+ prescriptions and counting. We are estimating over $100M revenue in the next decade.

What’s your plan to grab a meaningful share of the market?

There are approximately 70,000 pharmacies in the United States. A majority of pharmacies don’t offer home-delivery services. In the current healthcare landscape, only less than 1% of mass retailers are providing delivery services, which leaves a large percentage of vulnerable populations--such as the elderly, people with disabilities, and people with limited access to transportation--in need of medications delivery services (Source: Wikipedia). Balto Rx has expanded to serve more than 4000 zip codes in 14 states, and expanded our pool of drivers by increasing hiring and tapping into our partners’ networks. 

Our Solution

What do you or will you do to solve this problem?

Balto Rx is meeting the moment by helping increase access to medications for patients. We are ready to partner with all pharmacies (independent, chain, or specialty), hospitals, insurance companies and others in the healthcare ecosystem. To meet the increased demand, we have introduced “Meds On-demand,” a service where patients and pharmacies can request medications to be delivered from any pharmacy, any day, at any time. 

Balto Rx has become a successful platform for delivering prescription medications to a patient’s home from their local pharmacy, within hours of a request. Balto Intelligent Platform (BIP) is the most advanced and comprehensive digital platform that streamlines the prescription delivery process through features including proof of delivery, real-time tracking, prescription transfers, and many more. We have also created associated apps, including “DeliverMyRx” for patients to request their medications; “See-a-pharm” app for video consultation with a pharmacist; and others for healthcare agencies to place orders on behalf of the patient, even while a patient is being discharged from a hospital.

Our innovative, HIPAA-compliant model is revolutionizing the way prescription medications are delivered across the country. With deliveries starting at just $7, Balto Rx is paving the way for new opportunities in healthcare accessibility by creating the most affordable and timely delivery services out there.

How do you make money?

Balto Rx generates revenue through our various services, including our daily deliveries, which are partner-based relationships with pharmacies and hospitals and generate a steady stream of revenue; our “On-demand” services allow for pharmacies and hospitals to request deliveries as needed, at a higher rate per delivery; lastly, “DeliverMyRx” is an app that allows millions of patients to submit delivery requests, which also generates revenue. Balto Rx is in discussion with Veterans Affairs to explore a partnership to deliver medications to their members. Balto Rx is also in discussion with non-profits, philanthropic individuals, and other organizations that might want to donate resources to help underserved communities. 

Our Traction

After a successful pilot run in Q4 of 2019, we launched commercial delivery services in January 2020 within the State of California. Since then, BaltoRx has partnered with 50+ hospitals/pharmacies, delivered over 30,000+ medications, driven over 300,000 miles, completed over 10,000+ deliveries, and has seen a 300% increase in revenue since its commercial launch in 2020. Our ultimate mission is to expand across the nation to reach millions of people and bring improved access to medications.

Balto Rx is paving the way for new opportunities in healthcare accessibility by creating reliable, accessible, and timely delivery services. In addition, Balto Rx is the only company providing direct patient to pharmacist video consultation services. We are also excited to be expanding our impact and network of drivers through a collaboration with a ride sharing company. 

How much was raised previously and from who?

We have been self funded from the beginning and have gone through many phases of research, design, development, testing, pilot then commercial launch. Now we are seeking greater resources from external funders for the growth / expansion phase. 

Our Team

Describe how you have the right team to pull this off.

CEO - Hemant Shah is a passionate entrepreneur with over 30 years of experience focused on developing state-of-the-art technologies that aim to expand the digital landscape. He has founded and developed companies that deliver computer hardware, software, and service-related technological solutions and is now embarking on his latest project, Balto Rx.

Directors: 2 healthcare professionals acting as advisory members who provide insight and direction on healthcare related issues and challenges.

Technical Director: oversees the digital platform for general use to pharmacies, hospitals, clinics, and end users (patients).

Communications Director: manages and develops public relations, media, and communications content.

Advisors: 3 pharmaceutical professionals help advance and develop strategy, trends and upcoming pharmacy regulations.

Use Of Funds

Use of Funds at Minimum Goal 

If we’re only able to raise the minimum amount, we would use whatever funds we’ve secured to hire new drivers, which would help us on our mission to increase access to medications for everyone.

Use of Funds at Target Goal 

Required investment to support the following activities:

  • Marketing & advertisement

  • Recruiting sales personnel

  • Recruiting direct clients, pharmacies and hospitals

  • Recruiting our own drivers throughout service regions.

  • Ongoing engineering fees

  • Operating expenses

  • Returning initial investment

  • Licenses & Legal Framework

o   Licenses requirements from American Pharmacist Association, AMA and any other Healthcare Organization.

o   Legal protection

  • Eco-system Framework

  • Leading pharmacies such as Walgreens, CVS, Rite Aid, Walmart etc.

  • Mid-sized & private pharmacies in individual cities & states

  • Hospitals

  • Insurance companies

  • Medicare & Medicaid

  • Individual physician & Medical Groups

  • 2nd tier healthcare providers such as AARP and similar agencies.

Use of Funds at Maximum Goal 

Required investment to support the following activities:

  • Marketing & advertisement

  • Recruiting sales personnel

  • Recruiting direct clients, pharmacies and hospitals

  • Recruiting our own drivers throughout service regions.

  • Ongoing engineering fees

  • Operating expenses

  • Returning initial investment

  • Licenses & Legal Framework

o   Licenses requirements from American Pharmacist Association, AMA and any other Healthcare Organization.

o   Legal protection

  • Eco-system Framework

  • Leading pharmacies such as Walgreens, CVS, Rite Aid, Walmart etc.

  • Mid-sized & private pharmacies in individual cities & states

  • Hospitals

  • Insurance companies

  • Medicare & Medicaid

  • Individual physician & Medical Groups

  • 2nd tier healthcare providers such as AARP and similar agencies.

When will you achieve break-even?

We are estimating to break-even within 2 - 3 years after being fully funded.

How do you intend to provide investors with a return on their investment?

Upon considerable funding from investor(s), Balto Rx will have multiple options to offer (ROI), including: common stock, preferred stock, interest-bearing loans, revenue-sharing arrangements, convertible debt, and future equity.

SAFE (Simple Agreement for Future Equity)

The SAFEs will convert upon an “Equity Financing” as further defined in the SAFE agreement. Discount shall be applied as follows.

$5000 to $9,999.99 – 10%

$10,000 to $24,999.99 – 15%

$25,000 or more – 20%

Perks for investors

$1000 investment – $50 gift certificate, use it for self or donate to friends or relatives to get free meds delivery.

$2000 investment – $100 gift certificate, use it for self or donate to friends or relatives to get free meds delivery.

$3000 investment – $150 gift certificate, use it for self or donate to friends or relatives to get free meds delivery.

$4000 investment – $200 gift certificate, use it for self or donate to friends or relatives to get free meds delivery.

Note: Gift certificate will be issued upon complete fulfillment of fund raise cycle.

 


 

Did you know you can view and Pledge to this campaign in the Silicon Prairie Mobile App?

Scan the QR code below to download the Silicon Prairie Online Mobile App.