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.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
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.