Wireless MedCARE, LLC, a Roanoke, VA-based developer of a product platform of wireless, sensor and information services technology to long term care facilities, has raised an additional $180,500.
The funds will be used to complete development of the company’s first product, VivaTRAK™ Activity Monitoring system, a complete platform that uses wireless and sensor technology to track the activity of patients and their caregivers in nursing homes. The system ensures that care tasks are completed on time and documented in healthcare records for quality assurance, reimbursement and liability-risk mitigation purposes.
Commenting on the funding, Dan Wrappe, CEO of Wireless MedCARE, said: “The success of our most recent offering is an attribute to the investment community recognizing the compelling value proposition for the product that will soon be available for sale.
“We want to thank our investors and look forward to a new round of funding to support going to the market”.
The company has been funded by the Carilion Biomedical Institute, Optimum Sensor Holdings and other accredited investors primarily located in Virginia and North Carolina.