Feelin’ fit for growth

By Walker Duncan Posted on July 14, 2009 at 10:18 am

After a $10.2 million shot of capital from Council Ventures brought it out of chapter 11, New Day Pharmacy says it’s ready to grow.

On the heels of a $10.2 million investment from a syndicate of institutional investors led by Council Ventures, New Day Pharmacy expects to boost its revenue by 50 percent a year and increase staff by slightly less than that, says CEO Richard Wager.

Wager says the company expects to increase its 28 person staff significantly to slightly less than 50 percent more than it currently employs.

New Day’s “in-house pharmacy” features a virtual information data bank, a paperless admissions process, a time-sequenced packaging system, long-distance delivery of medications, and on-site medication dispensing units.

Note: The article linked here from TechJournal South mistakenly refers to Richard Wager as New Day’s CEO. Wager is in fact the company’s president.  New Day’s new chairman and CEO is James Usdan.

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Tags: bankruptcy, Council Ventures, Health Care, New Day Pharmacy Corp., venture capital  

VC firm adds partner

By Geert De Lombaerde Posted on December 27, 2008 at 10:35 pm

Milt Capps has done some digging on Council Ventures’ recent addition of a North Carolina VC veteran.

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Tags: Council Ventures, North Carolina, venture capital