PatientSafe Solutions, a San Diego-based company, has closed a $25 million round of financing.
It was led by Menlo Park, California-based HighBar Partners. Existing investors Psilos Group, TPG, Camden Partners and Merck Global Health Innovation Fund also participated in the round.
PatientSafe will use the money to accelerate sales, scale operations and drive innovation in care delivery and clinical communications.
The startup’s president and CEO, Si Luo, commented on the round in a statement:
We are so excited to announce this latest round of funding led by experience enterprise software investors who support a methodical, long-term approach to building high-impact and sustainable businesses in the healthcare setting. This latest funding strengthens our ability to serve large-scale enterprise customers while continuing to develop and deploy a patient-centric communications and workflow network that unifies the patient, family and care team across the continuum of care.
John Kim, cofounder and managing partner of HighBar Partners, noted his enthusiasm about the financing.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
“We are excited to partner with the PatientSafe team to expand go-to-market capabilities, identify product acquisition opportunitites and continue to foster long-term relationships with leading healthcare organizations throughout the country and internationally,” he said in a news release.
PatientSafe, founded in 2002, makes PatientTouch, a mobile platform that helps providers improve communication, workflow and care coordination. The device was first introduced in 2011.
In 2013, the startup closed a $20 million Series C round led by Merck Global Health Innovation Fund. Psilos Group, TPG and Camden Partners also participated in that round.
Photo: StockFinland, Getty Images
