Cabinet Health is a plastic-free container manufacturer company. Basically, the products of this company are used to carry medicine. Cabinet Health provides medicine containers and pouches for keeping the medicine safe. People often need medicine for illness, and that medicine should be carried safely.
Many people also keep backup medicine for unexpected accidents. Cabinet Health is a company that sells a special type of container that is both sustainable and useful.
Cabinet Health Shark Tank Overview:
| Company Name | Cabinet Health |
| Founder | Achal Patel and Russ Gong |
| Founded | 2018 |
| Product | sustainable healthcare plastic-free packaging |
| Asked For | $500k for 2.5% equity |
| Final Deal | $500,000 for 7% equity + 2% Royalty |
| Shark | Tony Xu and Kevin O’Leary |
| Episode (Shark Tank USA) | S14 E11 |
| Air Date | Jan 13, 2023 |
| Business Status | In Business |
| Website | Cabinethealth.com |
| Headquarters | New York City, New York, United States |
| Net Worth (2024) | $31 Million |
The products of Cabinet Health look like cabinets cause there are different parts of the product for keeping different types of medicine in different places. Cabinet Health also appeared on the popular television show Shark Tank. Now you will know about the Shark Tank story of Cabinet Health.
Cabinet Health Shark Tank Update:
Achal Patel and Russ Gong went to the Shark Tank season 14 episode 11 to convince the Sharks to invest. They brought the actual products to show the Sharks. Russ and Achal explained the advantages of purchasing the Cabinet Health product.
They told me the company was manufacturing enough products before appearing on the Shark Tank show. Then Russ and Achal asked $500k investment from the Sharks, and in return for that investment, they offered 2.5% share of their company Cabinet Health.
Lori Greiner said she might invest in Cabinet Health for 20% share of the company. Then Kevin O’Leary asked some questions about the company, and Tonny Xu was also interested in this business. Finally, both Kevin O’Leary and Tonny Xu invested the asking valuation for 7% share with an extra 2% royalty interest.
What happened to Cabinet Health after Shark Tank?
After the Shark Tank Cabinet, the health company became even bigger. There is a huge change of Cabinet Health’s annual revenue between before and now. The company got publicity and money from the show, which helped spread the product among the customers. Cabinet Health’s products are also available on the official website.
Cabinet Health Net Worth 2024:
Cabinet Health company net worth is $31 million in 2024, and the lifetime revenue of this company is $23.6 million. The average annual revenue of this company is $4.6 million.
Cabinet Health Founder:
Achal Plate and Russ Gong are the founders of the healthcare products manufacturer company Cabinet Health. At present, Achal Plate is the CEO of Cabinet Health, but Russ Gong also owns this company. Russ and Achal started the production of Cabinet Health in 2018. In just five years, they have established the company as a multi-million dollar.
