VeriMed, a provider of a technology platform to manage their supply chain for controlled substances, raised $3m in venture funding.
The round was led by Fortis Capital Holdings.
The company, which could be located in Charlotte, intends to use the funds to commercialize its solutions.
Led by Philip Gaucher, founder and CEO, VeriMed provides proprietary technology and services which allow stakeholders along the controlled substances supply chain, including providers/doctors, wholesalers and pharmacists, to access to HIPAA-compliant patient data that can be used to help mitigate the risk of substance abuse and drug diversion.
The company says its system is comprised of four components:
– an information Portal,
– a Patient Risk Assessment,
– a mail-shipment pharmacy which utilizes data to help mitigate the delivery of controlled substances to patients who have the potential to abuse or divert their medication, and
– a blister pack for dispensing medication which records the date and time each pill is removed, so prescribing physicians can verify that patients are using the medication as directed.