Parity Rx · Seed round · Pharmaceutical wholesale distribution
~$16B of drug purchases a year need a new, non-negative-margin source.
Starting January 1, 2027, Medicare is lowering reimbursement for 340B acquired drugs ~34%, from ASP+6% to ASP-28%.
Hospitals need a sustainable solution.
$10M Seed
Parity RxConfidential · 01
The problem · CY2027 OPPS final rule
340B hospitals lose $5.45B a year in drug reimbursement.
~$17.0B
Paid at ASP + 6% (2026)
~$11.5B
Paid at ASP − 28% (2027)
−$5.45B
CMS-estimated 2027 cut to 340B drug payments ($4.35B Medicare + $1.1B patient share), effective Jan 1, 2027
Hospitals need a fast mitigation strategy — before January.
Bars derived: $5.45B ÷ (34 pts / 106) ≈ $17B of 340B-acquired drug payments. Source: CMS CY2027 OPPS Final Rule fact sheet — cms.gov/newsroom/fact-sheets/calendar-year-2027-hospital-outpatient-prospective-payment-system-opps-ambulatory-surgical-center-0
Parity RxConfidential · 02
Per-unit economics · indexed to ASP = 100
Buying outside 340B at ASP restores a ~6% margin.
78
72
100
106
−6
340B channel: paid 72, cost 78
+6
Parity Rx channel: paid 106, cost 100 — before 2% sequestration (≈ +4.3 after)
340B buy price
OPPS pays 340B-acquired (ASP−28%)
Parity Rx buy price (ASP)
OPPS pays non-340B (ASP+6%)
340B price of 78 is illustrative — replace with drug-level ceiling prices.
Parity RxConfidential · 03
Market opportunity · 340B infusion drugs under OPPS
~$16B of drug purchases need a new, non-negative-margin source.
$5.45B
Reimbursement 340B hospitals lose in 2027
~$16B
340B-acquired drug volume at ASP — our addressable sales
$22B
All separately payable OPPS drugs, 2024
Every unit we shift from 340B to ASP-priced purchase turns a loss into ~6% margin — so revenue scales as fast as hospitals switch.
~$16B = ~$17B payments ÷ 1.06. Sources: CMS CY2027 OPPS fact sheet (cms.gov); MedPAC March 2026 Report, Ch. 3.
Parity RxConfidential · 04
Our solution
A wholesaler that sells infusion drugs at ASP — outside 340B.
Priced at ASP
Hospitals buy non-340B at ASP and bill OPPS at ASP + 6% — about a 6% margin before sequestration.
Protected margin
Providers keep a predictable spread instead of absorbing payer swings.
Branded focus
Select branded manufacturers fund flexibility through direct contracts.
Full-service wholesaler
Licensed, DSCSA-compliant, invoiced like any primary or secondary supplier.
Parity RxConfidential · 05
Asset-light operating model
We own the title and the invoice — not the warehouse.
Step 1
Order
Customer orders through Parity Rx (bill-to: customer)
→
Step 2
Drop ship
Manufacturer or its 3PL ships directly (ship-to: customer)
→
Step 3
Invoice
Parity Rx bills at the dynamic price; pays manufacturer on terms
No physical possessionNo cold-chain build-outNo expiry write-offs
Parity RxConfidential · 06
Business model
Three revenue lines.
Distribution spread
Margin between manufacturer cost and invoice price. Target: [% — replace]
Manufacturer fees
Distribution service fees per contract. Target: [% of WAC — replace]
Data & analytics
Reimbursement insight subscriptions for manufacturer partners.
Parity RxConfidential · 07
Competitive landscape
Built differently from the incumbents.
Big 3Regional / secondaryParity Rx
Reimbursement-indexed pricing——●
Asset-light drop ship—Partial●
Branded manufacturer co-designLimited—●
Broad catalog & scale●PartialFocused
Parity RxConfidential · 08
Financial projections
Path to scale.
2027202820292030
Gross sales$40M$180M$450M$1.2B
Gross margin$1.2M$5.4M$13.5M$36M
SG&A$1.2M$4.4M$9.0M$16M
EBITDA$0$1.0M$4.5M$20M
Active hospital customers1560140300
Placeholder figures for illustration only, assuming ~3% distributor gross margin — replace with the final model.
Parity RxConfidential · 09
Use of funds · $10M
75% goes straight to working capital and inventory commitments.
Working capital & receivables
$4.5M
Inventory purchase commitments
$3.0M
Licensure, compliance & insurance
$1.0M
Pricing engine & tech
$1.0M
Team
$0.5M
Illustrative split — adjust to final model.
Parity RxConfidential · 10
Team & the ask
[Name]
Founder & CEO
[Name]
Chief Commercial Officer
[Name]
VP Compliance & Ops
Raising $10M Seed.
To fund working capital and inventory commitments behind our first manufacturer contracts.
[email@parityrx.com — replace]
Parity RxConfidential · 11