MediSafe, an Israeli mobile health company centered on medication management, raised $6 million in a Series A round to support an expansion of the company. Part of that expansion includes a decision to move its headquarters to Boston, according to a company statement.
Pitango Venture Capital, a new investor, led the Series A. Other participating investors included 7wire ventures, as well as investors from previous rounds, including lool Ventures, TriVentures and angel investor Eyal Gura, who previously worked with Pitango Venture Capital.
The Boston move makes sense considering the extensive healthcare startup landscape in the city and no shortage of healthcare partners in the region.
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On the company’s 2015 agenda are plans to increase its adherence tools and plans to improve the user experience for its apps. It also hopes to use distribution, technology and data partnerships to build marketshare.
In response to the question of what some of the new applications will be, MediSafe said in an email that connectivity and communication between physicians/providers, pharmacies, hospital systems and pharma was a priority. “Understanding the patient’s actions between office visits and trips to the pharmacy is largely a black hole right now, so we aim to improve healthy behaviors, starting with taking the prescribed meds…”
Last year marked MediSafe’s entrance into the wearables market through a deal with Google’s smartwatch. It also developed an API that makes it possible to integrate data such as prescription information and directions from its medication adherence tools into electronic health records. It created the product as part of a collaboration with a health information exchange vendor. The tool is intended to help providers comply with Meaningful Use Stage 2 outlined in the HITECH Act. It also collaborated with a medication adherence business, WealthTaxi. It developed a smart pillcap that includes flashing lights and vocal reminders that can be recorded by users and activated when it’s time to take a pill.
MediSafe also hired Jon Michaeli to head up marketing and business development. He comes with a digital health pedigree that includes positions with SERMO, the largest online physician network, an advisory board member for Hello Doctor and LiftOff Health, an incubator for healthcare startups in Washington, D.C.