The deal, brought the Series C funding to 27m. The round was led by Merck Global Health Innovation Fund with participation from Camden Partners, TPG Biotech, and Psilos Group (read here).
The company intends to use the capital to further U.S. adoption of its PatientTouch® System, and expand into the growing Asia Pacific (APAC) healthcare market. As part of the expansion, PatientSafe will consolidate its hardware manufacturing and global supply chain in Singapore and establish a local presence to support ongoing product innovation and commercialization in those markets. Its primary product development and design teams remain headquartered in San Diego.
Led by Joe Condurso, president and CEO, PatientSafe provides the PatientTouch System, a smart point-of-care mobile solution that integrates Apple iPhone 5 and iPod touch hardware with software applications to improve clinician workflow, ensure accurate medication administration, and improve care coordination and communication.
Capabilities include barcode positive patient identification (PPID), streamlined mobile data entry, voice-over-IP communication and HIPAA-compliant text messaging, unified task and interventions inbox, and respiratory therapy workflows.
The PatientTouch Blood Product Administration module, which documents and verifies blood transfusions and phlebotomy specimens, received 510(k) clearance from the FDA.