Mobile health device developer PatientSafe Solutions, which developed a tool to improve patient safety and avoid adverse drug events, has closed a Series C round to fund the expansion of the company to the Asia Pacific market. With the $27 million it’s raised, PatientSafe will open an office in Singapore that will anchor its expansion in the region, according to a company statement.
Its PatientTouch device runs on Apple iOS, It includes positive patient identification, can access realtime patent information such as vitals and administered medication list, automated care team messages and alerts. It also carries patient-specific maximum dose warnings and helps nurses avoid messy handoffs.
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.
PatientSafe Solutions received a strategic investment from strategic investment from EDBI, the investment arm of the Singapore Economic Development Board. Merck Global Health Innovation Fund led the round and Camden Partners, TPG Biotech, and Psilos Group also took part.
Singapore will be the center of its hardware manufacturing and global supply chain. The company’s main product development and design teams will stay in San Diego.
Hospitals are keen to reduce adverse events and startups have responded with several focusing on communication tools to manage clinical workflows from apps to special mobile devices. Other devices have sold themselves as a more effective alternative to pagers.
