Drug Discount Management Solution Company Kalderos Raises $28 Million

By Noah Long ● June 20, 2020
  • Kalderos, a creator of the first drug discount management solution, announced it raised $28 million in Series B funding

Kalderos — a creator of the first drug discount management solution — announced that it raised $28 million in Series B funding to expand its capabilities to solidify its point-of-sale solution, expand to directly support patient and other discount types, and explore other financial exchanges in healthcare which would benefit from dedicated infrastructure. This round of funding was provided by Bain Capital Ventures and Mercato Partners.

With this funding round, Kalderos will focus on three key areas including platform growth, category expansion, and growing its team of experts. Currently, Kalderos supports compliance efforts for numerous programs, including the 340B Program, Medicaid Drug Rebate Program, and commercial managed care.

And Kalderos’ drug discount management platform will soon include a point-of-sale solution, effectively preventing noncompliant drug discounts from happening in the first place. And further, Kalderos is actively building out its compliance suite to enable drug manufacturers, providers, and payers greater flexibility to work together to help patients pay for the drugs they need.

In terms of category expansion, the Kalderos platform is known for offering a unique capability for manufacturers, providers, and payers to work collaboratively, offering greater freedom for all parties to design and operationalize risk-sharing agreements. And next, Kalderos plans to branch out into additional areas of healthcare that would benefit from an information exchange infrastructure like value-based pricing.

Kalderos said it need healthcare experts to grow successfully. And so Kalderos is committed to scaling its team with proven, inspired, creative and collaborative leaders who are passionate about redefining how the business of healthcare performs.

Plus Kalderos is going to launch a 501(c)(3) nonprofit arm, which aims to support patients directly by ensuring those patients who need lifesaving medications can afford them. And with a patient-first mindset, the Series B funding is the first step in building out support for those patients who need it most.

Trevor Wear, Sandi Knox, Nick DeAngelis and Jake Funk of Sidley Austin LLP had represented Kalderos in the negotiation process for the Series B raise.

Key Quotes:

“In the short year since we closed our Series A funding round, we quadrupled our team, expanded our current drug discount management solution to cover additional programs and completed beta testing of the first dedicated IT infrastructure for proactive, preventative drug discount management. Already, our legacy solution has identified more than $100 million in noncompliant drug discounts. With this additional funding, we’re forging ahead in our mission to be the drug discount management pioneer and, ultimately, create additional infrastructure to further streamline the interactions between participants in the healthcare ecosystem. We’re excited to partner with Bain Capital Ventures in Kalderos’ next life cycle and we’re grateful for the continued support from Mercato Partners.”

– Jeremy Docken, CEO and co-founder, Kalderos

“Kalderos is not just tackling a big problem in healthcare, it is creating an entirely new category to solve it. Compliance with drug discount programs, such as the Medicaid Drug Rebate Program or 340B, has long been an opaque and complex process, but the Kalderos platform makes it easy for providers and payers to automatically apply the right discounts to ensure patients get access to lifesaving medicines. We’re excited to leverage our deep understanding in healthcare technology, coupled with expertise from Bain Capital’s dedicated life sciences group, to support Kalderos on its mission to simplify and demystify the American drug discount system.”

– Yumin Choi, partner at Bain Capital Ventures

“Drug manufacturers spend significant resources ensuring compliance with a wide range of drug discount programs. Kalderos’ data-centric monitoring tools simplify the identification and resolution of the many gaps in compliance in today’s operations of these programs. More than monitoring noncompliance, the comprehensive preventative solution Kalderos is developing is sorely needed to ensure long-term integrity and viability of the drug discount programs in the United States.”

– Mark Niemaszek, long-time pharmaceutical executive and recently retired vice president of commercial operations at Astellas Pharma

“Kalderos has provided more clarity to the whole 340B compliance space. It has simplified addressing questionable claims and instead of dealing with dozens of manufacturers simultaneously, I appreciate the consolidated portal to review claims.”

– Jeremiah (Jay) Joson, PharmD, APh, BCGP, BCPS, director of pharmacy at Kern Medical

“We were delighted to represent Kalderos in this important financing transaction.”

– Trevor Wear, partner at Sidley Austin LLP