Internet pharmacy PlanetRX.com Inc says it has closed $50m in equity funding. Investors include News Corp, Tenet Healthcare Corp, HealthSouth Corp, LVMH Group, Amerindo Technology Fund, Bowman Capital and E*Trade Group Inc. The company’s initial VC investors, Benchmark Capital and Sequoia Capital, have also made additional contributions to the latest round of funding. No further details were disclosed.
The San Francisco-based rival of Drugstore.com Inc says it plans to embark on a major branding and marketing campaign, which will include TV and radio advertising, and to continue building its infrastructure, including the expansion of its distribution center and pharmacy. PlanetRx.com offers prescription and over- the-counter medication, vitamins, medical supplies, and cosmetics.
