{"id":52033,"date":"2022-12-15T15:03:33","date_gmt":"2022-12-15T14:03:33","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/cabinet-health-raises-17-million-to-further-its-mission-to-build-the-worlds-first-sustainable-healthcare-company-and-tackle-the-pharmaceutical-plastic-crisis\/"},"modified":"2022-12-15T15:03:33","modified_gmt":"2022-12-15T14:03:33","slug":"cabinet-health-raises-17-million-to-further-its-mission-to-build-the-worlds-first-sustainable-healthcare-company-and-tackle-the-pharmaceutical-plastic-crisis","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/cabinet-health-raises-17-million-to-further-its-mission-to-build-the-worlds-first-sustainable-healthcare-company-and-tackle-the-pharmaceutical-plastic-crisis\/","title":{"rendered":"\u00a0\u00a0Cabinet Health Raises $17 Million to Further Its Mission to Build The World\u2019s First Sustainable Healthcare Company and Tackle the Pharmaceutical Plastic Crisis"},"content":{"rendered":"
\n

\n\u00a0The Inventor of the Sustainable Medicine Packaging System Has Diverted Thousands of Pounds of Plastic from Oceans and Landfills, and Plans to Eliminate 10x More by 2025<\/i>\n<\/p>\n

NEW YORK–(BUSINESS WIRE)–Cabinet Health, the Sustainable Healthcare Company, today announced it has raised $17 million in growth funding. The funding is a combination of debt and equity and will be used to fuel the brand\u2019s rapid growth and expansion into new categories including prescriptions and retail channels. Global Impact Fund led the round with participation from other mission-driven investors including Natureza and Unreasonable Group. This fundraise brings the company\u2019s total funding to $23.6 million to date and previous investors include TechStars, SOGAL Ventures, Gaingels and Pixel Perfect Ventures. Founded in 2018 by Achal Patel and Russell Gong, Cabinet Health is the first sustainability-focused healthcare company designed to lead the $1.2 trillion pharmaceutical industry in addressing its plastic crisis, which generates more than 190 billion single-use plastic medicine bottles every year.\n<\/p>\n

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\n\u201cOur investors and team combine deep expertise in sustainability, retail and digital healthcare,\u201d said Achal Patel, co-founder and CEO of Cabinet Health. \u201cWith our world-class group of mission-driven experts and fresh round of funding, we\u2019ll be able to take our vision to the next level to eliminate single-use plastic from the medicine and healthcare industry.\u201d\n<\/p>\n

\nCabinet Health has proven its concept with investors and consumers, generating an average of 110 percent growth year-over-year with its over-the-counter offerings, which include cold and flu, allergy, digestion, pain, and sleep. As the inventor of the first refillable and compostable medicine system, Cabinet Health\u2019s mission is to make health care products and packaging more sustainable, from retail and pharmacy aisles to our medicine cabinets and homes.\n<\/p>\n

\n\u201cWe know that 97 percent of single-use plastics end up in our oceans, landfills, and eventually, our bodies as microplastics,\u201d said Russell Gong, co-founder and president of Cabinet Health. \u201cThe plastic waste crisis is a public health crisis. Our vision is that one day every medicine cabinet, pharmacy and retail shelf is free of single-use medicine plastic and replaced with sustainable, high quality and affordable Cabinet Health remedies.\u201d\n<\/p>\n

\nCabinet Health reimagined traditional pill bottle packaging to offer customers a first-of-its-kind, low-waste solution free of single-use plastics. Cabinet Health\u2019s system features elevated glass bottles that can be infinitely re-used, along with patented compostable pill packages that are made out of 100 percent earth-digestible materials and are city-compost friendly. By switching to the brand’s refillable system, Cabinet Health’s customers eliminate up to one pound of plastic annually and hundreds of pounds of plastic in a lifetime, an important metric as more and more consumers make conscious choices to avoid plastic waste that contributes to microplastics found in our food, water and ultimately, bodies.\n<\/p>\n

\nIn addition to leading the industry in sustainability, Cabinet Health’s medicines use FDA-approved active ingredients sourced from world-class manufacturers, formulated to be equally as effective, batch tested and certified free of toxic metals, known carcinogens, and allergens such as gluten.\n<\/p>\n

\n\u201cCabinet Health is leading the industry in accelerating the adoption of high-quality medicines free of single-use medicine packaging,\u201d said Carrie Rich, CEO and co-founder of Global Impact Fund. \u201cWe are thrilled to join the team of inventors and innovators who are fundamentally changing how the pharmaceutical market will address climate change and plastic pollution.\u201d\n<\/p>\n

\nCabinet Health products are currently found on CabinetHealth.com and online retailers such as Grove Collaborative and Amazon, with more retail partnerships to come in 2023. Cabinet Health is a certified B-Corp that prioritizes minimizing carbon footprint, water waste, and material waste in their offerings and practices.\n<\/p>\n

\nABOUT CABINET HEALTH: THE SUSTAINABLE HEALTHCARE COMPANY
\n
<\/b>Cabinet Health is a sustainable healthcare company that has invented the world\u2019s first refillable and compostable medicine system, offering an impactful solution to the growing plastic waste crisis. Co-founders Russell Gong and Achal Patel launched Cabinet Health in 2018 with a vision to reimagine the way the industry packages and fills every type of medicine. The company is on a mission to eliminate single-use plastic from the pharmaceutical industry altogether, which produces more than 190 billion single-use plastic medicine bottles every year, with an estimated 97% landing in our oceans, landfills, and eventually, our bodies as microplastics. The Cabinet Health system offers high-quality over-the-counter medicines and supplements in elevated glass bottles that can be infinitely re-used, providing customers with a more beautiful, streamlined, and low-waste alternative to the dozens of plastic pill bottles in their medicine cabinets today. All Cabinet Health medicines are third-party batch-tested, use FDA-approved active ingredients, and are free of known carcinogens, toxins, and allergens, including gluten. Cabinet Health is a certified B-Corp with a growing base of customers who have helped divert thousands of pounds of plastic from landfills. To learn more visit cabinethealth.com<\/a> and follow at @cabinet.health<\/a>.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nPR Contact
\n
Emily Tschirhart
\n
cabinet@jbc-pr.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0The Inventor of the Sustainable Medicine Packaging System Has Diverted Thousands of Pounds of Plastic from Oceans and Landfills, and Plans to Eliminate 10x More by 2025 NEW YORK–(BUSINESS WIRE)–Cabinet Health, the Sustainable Healthcare Company, today announced it has raised $17 million in growth funding. 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