PatientSafe Solutions closes $20M Series C funding

January 14, 2013 by MassDevice staff

PatientSafe Solutions lands a $20 million Series C round led by Merck.

San Diego, Calif-based PatientSafe Solutions,which develops point-of-care mobile technology for healthcare tools, landed a $20 million Series B round led by the Merck Global Health Innovation fund.

The other investors are Camden Partners, TPG Capital, and Psilos Group.

The investment principal at Merck GHI Max Kahn joined PatientSafe’s board, according to a press release.

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"PatientSafe is redefining point-of-care by fulfilling health information technology’s promise of delivering measurable value across safety, quality, and efficiency of care throughout the continuum," president & CEO Joe Condurso said in prepared remarks. "This Series C round is an affirmation of our vision and strategy to move healthcare forward by arming providers with real-time actionable data and making care team workflows easier and more productive."

The mHealth company last month drummed up $13.3 million of a hoped-for $25.7 million.

The company said it will use the money to market its PatientTouch platform to hospitals and health systems.

The PatientTouch platform is a mobile application that help health provider access patient data and clinical workflows while communicating with care team from anywhere in the hospital.

PatientSafe plans to deliver meaningful use guidelines, value-based purchasing programs to hospitals, and reduces the cost for health care systems, according to the release.