SIRUM

SIRUM

Facilitates donation and redistribution of medications

About SIRUM

Simplify's Rating
Why SIRUM is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Social Impact

Healthcare

Company Size

51-200

Company Stage

Seed

Total Funding

$116.7K

Headquarters

Menlo Park, California

Founded

2009

Overview

SIRUM focuses on drug donation and redistribution to help individuals who cannot afford medications. The company collects unused and surplus medications from health facilities and pharmacies, ensuring compliance with national drug donation laws and providing liability protection to donors. Medications are boxed up and picked up by FedEx, then redistributed to partner organizations that dispense them to those in need. This process not only minimizes medical waste but also improves access to essential medications for underserved populations. SIRUM differentiates itself by its commitment to public health and social impact, generating revenue through donations and grants to support its mission of saving lives by making medications accessible.

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Simplify's Take

What believers are saying

  • Increased telehealth adoption enhances SIRUM's digital medication management and distribution.
  • Value-based care models align with SIRUM's cost-reduction mission through medication redistribution.
  • Growing legislative support for drug donation programs expands SIRUM's operational reach.

What critics are saying

  • Traditional pharmacies may oppose Good Pill's competitive low-cost medication model.
  • Supply consistency issues may arise as healthcare facilities optimize inventory management.
  • Regulatory scrutiny could increase with SIRUM's expansion into new states like Illinois.

What makes SIRUM unique

  • SIRUM redistributes surplus medicine to uninsured and underinsured patients, expanding healthcare access.
  • The company leverages national drug donation laws for compliance and donor liability protection.
  • SIRUM partners with FedEx for efficient logistics in redistributing medications.

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Funding

Total Funding

$116.7k

Below

Industry Average

Funded Over

1 Rounds

Notable Investors:
Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Below Average

Industry standards

$3.3M
$120k
SIRUM
$1.5M
Slack
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Company Match

Paid Vacation

Mental Health Support

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

3%

2 year growth

3%
PR Newswire
May 10th, 2023
Sirum Brings Non-Profit, Home-Delivery Pharmacy, Good Pill, To Illinois

With 875,000 Illinois residents uninsured and as many as 700,000 Illinois residents potentially losing Medicaid health coverage in 2023, Good Pill will provide direct access to hundreds of life-saving medications and save families $150+/month on healthcare costsPowered by donated surplus medicine, Good Pill reduces waste of unused and unexpired drugs and sustainably scales the safe delivery of medication to patients in needSIRUM introduces meaningful opportunity to expand impact of the Illinois Drug Reuse Opportunity Program Act to increase healthcare equity within the local communityCHICAGO, May 10, 2023 /PRNewswire/ -- Today, SIRUM, the nation's largest redistributor of surplus medications, announces it is bringing non-profit, home-delivery pharmacy, Good Pill, to Illinois. Good Pill is dedicated to providing people with affordable medication (with savings of $150+/month on healthcare costs) and to filling prescriptions for anyone whose medication costs are too high – including people with insurance, but high co-pays or deductibles, and those who don't have insurance who often pay more at the pharmacy counter. Now, hundreds of thousands of Illinoisans no longer have to choose between affording life-saving medicine and other essentials, such as housing and food.In Illinois, 875,000 residents are uninsured1, and as many as 700,000 Illinois residents could lose Medicaid health coverage in 2023 due to Medicaid pandemic protections that ended on March 312. On top of that, Altarum's Consumer Healthcare Experience State Survey (CHESS) in Illinois illustrated that more than half of all respondents reported being either "worried" or "very worried" about affording the cost of prescription drugs3. SIRUM drives the future of healthcare by connecting people with surplus medications and believes everyone should have access to medication, regardless of cost, age or insurance. SIRUM is powering Good Pill in Illinois by facilitating the collection of unopened and unexpired non-opioid surplus medicine that would otherwise go to waste, and redistributing donated medicine to Good Pill's pharmacy to serve patients in need.SIRUM Brings Non-profit, Home-delivery Pharmacy, Good Pill, to Illinois Tweet thisHere's how Good Pill's licensed pharmacy works:A patient registers with Good Pill and then their healthcare providers can directly send their prescriptions to Good Pill, like a regular pharmacy.Good Pill's pharmacists and technicians get to work on filling and shipping the order within 1-2 days and deliver it between 3-5 days, with free shipping.Good Pill shares transparent tracking updates through a patient's preferred method of communication, either cell, text or email, and provides ongoing medication management, including automatic refills.With Good Pill, a patient's first order is $6, regardless of the number of medications and with or without insurance

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