WellDoc has raised a $22 million series B round to support its drive to expand the customer base for its FDA-cleared prescription app supporting Type 2 diabetes patients, adding Samsung Ventures to its group of investors, according to a company statement.
BlueStar requires a prescription from a licensed healthcare provider and can be reimbursed by health plans. It is designed to help patients self-manage their chronic condition through real-time motivational, behavioral and educational coaching. Physicians also have a dashboard that helps them view changes in their patients’ condition over time and to optimize treatment decisions.
Merck Global Health Innovation Fund, a previous investor, was co-lead on the Series B round with Samsung. Other participants included Adage Capital Management, Excel Venture Management, Alexandria Venture Investments and Hudson River Capital Partners.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
The Series B round follows a $20 million investment from Merck Global Health Innovations last year.
Earlier this year the company presented a poster at the American Diabetes Association conference that sought to demonstrate its app’s ability to boost patient engagement, especially in older users.
