MedMinder Systems Inc., a Needham, MA-based fully-integrated, end-to-end pharmacy, medication adherence and connected care solution for elderly and polypharmacy patients, raised $40m in funding.
The round was led by Accelmed Partners with participation from Arkin Holdings and existing investors.
The company intends to use the funds to expand its connected care and telehealth offering, scale its commercial operations by opening additional automated pharmacy locations in high-density metropolitan areas across the U.S., and expand its management, sales and marketing teams with strategic hires.
Founded in 2007 by Eran Shavelsky, MedMinder provides a touch screen-enabled, automatic pill dispenser capable of delivering medications from its pharmacy directly to patients’ doors in pre-organized daily trays for the entire month. The dispenser unlocks only at the specific time a medication should be consumed, monitors the consumption of medications, and allows remote monitoring of drug adherence by caregivers and case managers on behalf of payors as well as telemedicine with physicians, providing peace of mind for families and remote clinical teams.
The company currently employs over 100 team members between its Massachusetts and New York locations.