Spencer Health Solutions Raises USD43M in Series D Funding

Spencer Health Solutions

Spencer Health Solutions, a Morrinsville, NC-based pharma services and health technology company, raised USD43M in Series D funding.

The backers were not disclosed.

The company intends to use the funds to support continued growth in those markets including capital for devices, new operational team members, and sales and marketing resources.

Led by CEO Tom Rhoads, Spencer Health Solutions is a health technology provider dedicated to improving patient engagement and medication adherence for clinical trials and commercial pharmaceutical programs, while also easing the burden of medication management for patients and caregivers. Its spencer® SmartHub provides real-time monitoring of patients’ behaviors that results in improved drug persistency, patient retention, and health outcomes.

Commenting on the news, Tom Rhoads said: “This round of funding reflects our progress in building partnerships with several major pharmaceutical companies, global clinical packagers, and regional and national specialty pharmacies. It will also help support and scale several major chronic care provider contracts recently awarded in US, Canada and Europe. It is an exciting time at Spencer Health Solutions.”