Berkeley, Calif. - Elephant Pharmacy, Inc. announced today the completion of $26 million Series C equity financing and the addition of a new board member. The investment will provide strategic growth capital and be used to open additional locations in select markets as well as make further additions to the management team to support expansion.

The financing round included new investor Tudor Investment Corp. and existing investor, the Bay Area Equity Fund, managed by JPMorgan.

"The Elephant Pharmacy customer would love to have more than prescription drugs from their local drug store," said Kathi Lentzsch, Elephant Pharmacy's CEO and president. "They want to understand how to feel good, look good and remain active for as long as possible. We get that. Tudor and the Bay Area Equity Fund, managed by JPMorgan, get it, too,"

"We're using this funding to bring Elephant Pharmacy, the drug store of the future, to more markets. With more locations it will be even easier for customers to attend our free health and wellness classes, find healthy alternatives and complementary remedies to prescription drugs and, of course, connect with our well informed pharmacists who counsel patients on what to expect with each prescription," said Lentzsch.

As part of the new agreement, Eric Olander, vice president, Tudor Investment Corp. will join Elephant Pharmacy's board of directors. Olander noted that Elephant has put together an impressive team who Tudor believes can take their unique retail concept to the next level of success.

"We look forward to working with management and the rest of the Board as Elephant seeks to grow into the preeminent next generation drug store, where Eastern and Western medicine intersect, and where customer service and education are the top priorities," said Olander.

Lentzsch welcomed Olander to the board, adding, "Eric is as excited about Elephant Pharmacy as I am. He clearly understands why people are turning to us as one of the primary health and wellness resources in their lives. With his experience analyzing high growth retail companies, Eric will be a huge asset to the board of directors as we refine our growth strategy."

According to government estimates, Americans spend $27 billion annually on alternative and complementary medicine. Increasing numbers of Bay Area consumers who are looking to take the next step in self-managing their own health and wellness are turning to Elephant Pharmacy as a key resource.

In addition to its present locations in Berkeley and San Rafael, Calif., Elephant expects to announce the opening of locations in Los Altos in 2006 and Walnut Creek in 2007.

About Elephant Pharmacy

Elephant Pharmacy - the leading complementary pharmacy and one-stop wellness store - provides a vibrant alternative to typical chain drug stores. Elephant offers a vast range of over-the-counter pharmaceuticals, herbal remedies and supplements from both western and eastern traditions. A wide selection of natural foods, natural body care and cosmetics, yoga and meditation gear, home and travel accessories is also available. Elephant's carefully-selected team of wellness practitioners, instructors and visiting experts offers hundreds of free classes, lectures, clinics and health testing programs every month. Elephant stores are natural community hubs, dedicated to helping people cross the bridge to a good, long life, well lived.

For more information, visit www.ElephantPharmacy.com.

Elephant Pharmacy

Elephant Pharmacy

Elephant Pharmacy - the leading complementary pharmacy and one-stop wellness store - provides a vibrant alternative to typical chain drug stores. Elephant offers a vast range of over-the-counter pharmaceuticals, herbal remedies and supplements from both western and eastern traditions. A wide selection of natural foods, natural body care and cosmetics, yoga and meditation gear, home and travel accessories is also available. Elephant's carefully-selected team of wellness practitioners, instructors and visiting experts offers hundreds of free classes, lectures, clinics and health testing programs every month. Elephant stores are natural community hubs, dedicated to helping people cross the bridge to a good, long life, well lived.

More from Elephant Pharmacy