Table of Contents
Introduction:
Private enterprise Fullscript has 12 years of experience in the field. The company’s current areas of expertise are online marketplaces and government administration. Kyle Braatz is the Co-Founder and CEO of the company. Its corporate headquarters are in Ottawa, Ontario, California.
There are between 250 and 500 employees. Fullscript’s annual revenue ranges from 5.0 million to 25 million. Register on SignalHire as an employee to connect with Fullscript.
Integrative medicine, e-commerce, a dispensing platform, inventory control, health technology, technology development, healthcare, distribution, engineering, and supplements are some of its areas of expertise.
Fullscript Case Study:
Fullscript is a website that allows customers to order nutritional supplements. With the use of adherence tools and evidence-based resources, practitioners may use Fullscript to create virtual treatment plans, prescribe wellness, and assist patients in maintaining healthy habits.
Fullscript Company Highlights:
| Company Name | Fullscript |
| Headquarter | Ottawa, Ontario |
| Industry | Medicine |
| Founded | 2011 |
| Founder | Kyle Braatz |
| Website | https://fullscript.com/ |
Fullscript Industry:
Integrative health professionals can expand them practices, increase patient engagement and adherence, and have a greater impact thanks to the flexible platform operation of Fullscript. The company provides a platform for online supplement prescriptions that makes it simple for doctors and patients in North America to dispense and fulfill orders.
Fullscript Founder & Team:
Fullscript’s chief executive officer, Kyle Braatz, directs the company with an emphasis on technological advancement and innovation. Kyle helped co-found Fullscript in 2011 and, in 2018, the company successfully merged with Natural Partners.
Fullscript Startup Story:
Three entrepreneurs from Ottawa, Kyle Braatz, Brad Dyment, and Chris Wise, created Fullscript, which was first introduced as MD Storefront in 2011. 6 Dyment was searching for a solution to assist his wife, a naturopathic physician, who was dissatisfied with the amount of time and effort she had to spend monitoring her supplement inventory and managing her clinic.
In order to spend more time on patient care and wellbeing, integrative practitioners required a solution to streamline the process of prescribing and tracking the supplements that their patients were using. He brought up the idea to Braatz, who saw opportunity right away.
Wise, a software developer with a love for startups, was contacted by Braatz and Dyment, and the three started working together. The company began as a straightforward online dispensary with a focus on naturopathic and health supplement products.
But it soon became clear that the most important requirement was for tools to make sure that patients really used these things. When followed, supplement protocols were successful, but they might also be difficult. Generally speaking, supplements required to be taken in precise amounts at specific times, occasionally in combination. Improving results required streamlining this procedure and assisting patients in establishing routines.
Early in 2012, Braatz, Dyment, and Wise changed the company’s name to HealthWave with this new business model in mind, and they started to develop capabilities to track patients’ supplement usage and send out refill reminders automatically.
Fullscript Mission & Vision:
Our goal is to improve people’s lives. The value of conventional medicine in an emergency or when a patient requires immediate attention cannot be disputed. However, of the $4.1 trillion in yearly healthcare spending in the United States, 90% goes toward chronic illnesses and mental health issues.
These professionals want to help people find and rediscover well-being for the rest of their lives by offering lifelong care. Fullscript’s goal is to assist them and aid in their recovery. We create frictionless technology and individualised experiences to support people on their wellness journeys, whatever that means to them personally—from practitioners to patients, partners, and colleagues.
Fullscript Name & Logo:
Simple supplement planning for optimum health is the tagline.
Fullscript Business Model:
With the goal of assisting children in need and raising money for cancer research, Braatz, a University of Ottawa business graduate, and Dyment, who studied web programming at Algonquin College and Carleton University, founded non-profit organizations more than ten years ago. They started a company that produces videos.
Braatz has discovered that thing. He co-founded the internet healthcare company Fullscript with Chris Wise, Dyment, and in 2011. Fullscript said on Wednesday that it had secured US$240 million in equity funding from two American investors, HGGC and Snapdragon Capital Partners.
According to Braatz, the business plans to use the new funding to grow its software platform and add more staff. This platform is used by doctors and other wellness professionals to customise patients’ diet plans.
Fullscript and Shopify both have headquarters in the same city, and Braatz compared some of what his business accomplishes in its B2B2C model to what Shopify has accomplished in the e-commerce industry.
Fullscript is addressing the needs of practitioners online, just like the latter has made it simple for businesses selling online to create and manage their own web-based stores (a market that has been significant, and seen Shopify develop into a lot of related sectors as a result).
In addition to helping them source supplements, Fullscript also helps them manage their patients’ larger treatment plans by integrating these treatments into a patient’s larger electronic health records, set up and fulfil prescriptions for those treatments from Fullscript’s dispensary.
Fullscript Revenue Model:
Fullscript provides a tailored experience to support practitioners and patients on their wellness journeys and has a collection of 20,000 practitioner-grade goods from more than 300 businesses. The company has more than 500 employees across North America and $300 million in yearly revenue over its ten-year span.
Fullscript Products & Services:
At that time, Fullscript provided services to 450,000 individuals and around 25,000 medical professionals. The business was just getting started, but it was already bringing in US$40 million annually. The number of practitioners on the Fullscript platform, which now includes nurses, chiropractors, and dietitians, just surpassed 30,000.
Kayne Partners, a Los Angeles-based company, made a US$25 million investment in Fullscript in 2019 to support the company’s technological platform development. The amount of revenue had increased to $100 million annually. They are anticipated to surpass US$300 million this year.
Fullscript Funding & Investors:
The market for complementary and alternative medicine has experienced a significant upswing, with the global industry valued at $82.3 billion in 2020 and projected to grow at a rapid rate in the years to come. This broad field includes practice-based work like yoga as well as a huge range of supplements and everything in between. The most recent investment round for Fullscript was a $240M Growth Equity transaction on November 10, 2021.
The opportunity is now being seized by a startup called Fullscript, which has developed a wholesale backend and storefront builder to enable the supplement businesses of alternative health practitioners offering these services. The company, which is based in Ottawa, Canada, has raised $240 million.
The investment is coming from HGGC and Snapdragon Capital Partners, two mid-market companies that are more well-known for their private equity investments and investments in startups focused on health and wellness, respectively.
Although the value of Fullscript is not being made public, it should be noted that the firm was founded in 2012, had previously raised just around $25 million, and has grown primarily through self-sufficiency. It will have caught investors’ interest because of its solid financial history; for example, it will generate $300 million in revenue this fiscal year, up from just $40 million five years ago.
Fullscript Employees:
Currently, there are 500 people working for Fullscript, with about half of them based in Ottawa. Arizona serves as the company’s other significant operational hub and is home to Natural Partners, a distributor of dietary supplements.
In 2018, Fullscript and Natural Partners combined with the intention of employing Fullscript’s online fulfilment technology to provide patients their supplements and the protocols (or directions) from their doctors.
Fullscript Challenges Faced:
The growth of Fullscript coincides with a considerably stronger push for online health services, particularly those aimed at selling prescription drugs and dietary supplements. That implies increased potential rivalry from companies like Amazon (Amazon is already a popular retailer of vitamins and other supplements), as well as increased focus on others like Ro who are seeking to gain traction in this market.
However, there has also been a growing acceptance and comprehension that this company’s internet component is here to stay. But things are not always easy. The general acceptance of and use of complementary therapies has been hit or miss.
The leadership team at Fullscript was adamant that the organization’s CSR and community engagement efforts need a more unified strategy. They were aware of the benefits of the current situation, which had fostered a culture of employee-initiated and employee-led projects, nevertheless.
The corporation aimed to avoid limiting the creativity and authenticity that such grassroots efforts fostered by formalising its strategy. People, earth, and progress are the three new CSR pillars that Fullscript had started to categorise its many activities under in its planning procedures.
Consumers and a growing number of traditional and contemporary practitioners are on one side looking at these in addition to the pharmacological approach. However, there are a few reasons why that hasn’t become more commonplace on the other hand. To begin with, unlike the more common medical procedures, these treatments are not always covered by insurance companies.
For better or worse, pharmacological procedures have been tried, evaluated, approved by regulators, and generally accepted, which increases the likelihood that an insurance company (or practitioner) will choose those treatments as a treatment option. The same has not been true for complementary medications, in part due to the fact that some of the effects may be more difficult to measure.
Fullscript Acquisitions:
Emerson Ecologics, a seasoned participant in the integrative healthcare market, has been acquired by Fullscript, the premier care delivery platform for integrative medicine. Due to this agreement, Fullscript will support twice as many integrative medicine patients and practitioners, totaling more than 70,000 medical professionals and more than 5 million patients.
Fullscript Growth:
In order to gain access to the largest consumer healthcare market in the world, the enterprise expanded to the United States in 2013 and received $3.5 million in private finance from angel investors. The platform immediately attracted U.S.-based clients, and Naturopathic Doctor News & Review honored it in 2015 and 2016 with the Physician’s Choice Award for Excellence in Software and business services.
Its revenue increased by 3,000% between 2015 and 2017 as a result of this new perspective. Revenues rose to $40 million by 2018. Braatz believed that the company was underachieving despite the fact that Fullscript’s platform was swiftly altering how natural health products were prescribed and consumed.
In order to give customers a comprehensive answer for their needs in natural health goods, Fullscript, a relatively young business, needed access to the whole spectrum of products from all top manufacturers.
This flaw made it difficult for medical professionals to join the business and opened the door for rivals. Additionally, Fullscript had limited warehousing and logistics resources, which frequently caused the company to employ drop shipping (a system in which orders were sent to suppliers for fulfillment) and constrained its capacity to promptly fill orders.
Fullscript Partners:
Leadership completed what it started by combining Natural Partners and Fullscript into a single brand, which has been doing business as Natural Partners Fullscript (NPFS) since June 2018. Both teams said goodbye to the Natural Partners website and moniker and embraced a new (but familiar) identity under the banner of Fullscript.
It was a deliberate change that was based on research, user input, and cutting-edge technology to help practitioners and patients adapt smoothly.
Fullscript Competitors:
Competition for Fullscript came from a number of direct-to-patient distribution sites, including PureRXO, Doctors Supplement Store, WholeScripts, and Karewell. However, from Braatz’s vantage point, Emerson Ecologics, an American business with headquarters in Manchester, New Hampshire, was the firm’s closest and most significant competition.
Fullscript Awards & Achievements:
- A member of Fullscript is named among Canada’s Top 40 Under 40.
- CEO of the year was awarded to Kyle Braatz of Fullscript.
Fullscript Future Plan:
We have evolved from a passion that is fueled by various disciplines and backgrounds into a wealth of expertise and knowledge that produces fast and collaboratively.
FAQs about Fullscript:
What does Fullscript do?
A software platform called Fullscript is used to dispense professional-grade nutraceuticals and supplements. It enables medical professionals to recommend and distribute supplements (online or in person) from a selection of healthcare items from several reputable companies.
Also enables them to email or SMS patients with individualised product recommendations. For data access, the system can also be linked with the users’ current EHR system.
When was Fullscript founded?
It was established in 2011.
Who is the founder of Fullscript Corporation?
The Fullscript was started by Kyle Braatz.
Who are the main competitors of Fullscript?
Competition for Fullscript came from a number of direct-to-patient distribution sites, including PureRXO, Doctors Supplement Store, WholeScripts, and Karewell. However, Emerson Ecologics, an American corporation with headquarters in Manchester, New Hampshire, was seen by Braatz as the company’s closest and most significant competition.
What is Fullscript used for?
Fullscript delivers active support with medically-reviewed resources, refill reminders, and other treatment adherence tools to simplify the path to lifelong wellness.
Can anyone order on Fullscript?
If you’re not in the healthcare field and would like to order products from Fullscript, you must be invited to create an account by a Fullscript dispensary owner or be provided with a signup link by a healthcare provider to create your account.
How do I place an order in Fullscript?
- Log in to your account.
- Add products to your cart from prescriptions/recommendations or the Catalog (if available in your account).
- Select the cart and then Continue to checkout.
- Enter your shipping address, then Continue to delivery method.
Does Fullscript offer free shipping?
Orders over $50 qualify for free standard shipping or priority shipping at $4.95. See all shipping fees and delivery estimates below. Orders must be over $50 before additional shipping fees and taxes to qualify for free shipping.19
Does Fullscript take returns?
We’re happy to accept returns for products purchased in the last 30 days that are unopened and aren’t heat-sensitive. To ensure your refund is processed successfully, please submit a return request and our Customer Success team will provide your with an RMA number once your request is processed.
How do I use Fullscript with practice better?
Click on the gear icon > 3rd Party Integration and navigate to Supplement Dispensaries section. Find the Fullscript section and click Link.
Conclusion:
Fullscript encourages practitioners to concentrate on prevention and the interrelated, underlying causes of a patient’s symptoms while allopathic practitioners give essential care to those with urgent needs. Numerous integrative and functional health specialists are advocating for a change to a more pro-active outlook on diet, patient care, and all aspects of medicine.
