MedaCheck, a Cincinnati-based startup that has developed an alert system for seniors and medication adherence, has raised $1.15 million in a Series A round.
The funding was led by Queen City Angels and joined by individual investors, the company said. The $1.1 million is more than initially reported in February.
Led by CEO and founder Jeffrey Shepard and founded in 2012, Medacheck is in the process of partnering with hospitals,long-term care facilities, physician practices and going direct to consumers and caregivers to assist with medication adherence, an issue that costs the healthcare system up to $300 billion.
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The company specifically targets seniors, using tablet-based programs to personalize and assist with medication regiments. The three settings — CheckBox, PillBox and CheckIn — work in tandem, beginning with uploaded information about medications, over-the-counter drugs, vitamins and supplements in CheckBox. The PillBox app then issues reminders and alerts, using images of the medication to avoid any potential confusion. Finally, CheckIn provides real-time feedback on health status, and if the user doesn’t confirm that they’ve taken the meds, designated caregivers are called.
MedaCheck also recently partnered with Home Instead, a national home care chain, while passing 10,000 medication reminders being sent to patients. It also made two new key hires: Dana Soper, the cofounder and former CEO Of CarePoint Partners, and Nancy Koors, former president and COO of Powerhouse Factories and former Cintrifuse interim CEO.
