San Diego staffing firm AMN Healthcare Services Inc. will invest $5 million in a series of staged payments to San Francisco telepharmacy company PipelineRx.
The privately held PipelineRx, founded in October 2009, helps health-care providers with medication and chronic disease management through a cloud-based software technology platform and remote consultations with a network of pharmacists.
AMN Healthcare (NYSE: AMN) invested in PipelineRx because it helps clients “manage their workforce and patient care commitments in the wake of unprecedented changes in the health-care environment,” AMN President and CEO Susan Salka said in a statement. She said she is working to find ways to “create synergies” between PipelineRx and AMN’s pharmacy staffing division and client relationships.
AMN Healthcare (NYSE: AMN) has a market capitalization of $656 million, and about 1,900 corporate employees. In the fourth quarter of 2013, it had contracted out 5,609 nurses and other health-care workers.
PipelineRx’s other strategic investors include San Diego-based CareFusion Corp. (NYSE: CFN) and the California Healthcare Foundation, a public policy nonprofit that commands a $700 million endowment.