Healthcare Industry News: digital therapeutics
News Release - February 25, 2021
Medisafe Secures $30M in Series C Funding to Build Future Model of Patient SupportInvestments led by Sanofi Ventures and ALIVE Israel HealthTech Fund
The digital health leader readies for solution expansion across the healthcare ecosystem with latest round of funding
BOSTON, Feb. 25, 2021 -- (Healthcare Sales & Marketing Network) -- Medisafe, a leading digital therapeutics company creating digital drug companions, today announced that it has raised $30 million in Series C funding with investments led by Sanofi Ventures and ALIVE Israel HealthTech Fund, joined by Leumi Partners, Menorah Mivtachim and Consensus Business Group, previous investors Pitango Ventures, 7wireVentures, Merck Ventures, Octopus Ventures, lool HealthTech, Triventures and Ourcrowd. With this new investment Medisafe will further expand its end-to-end solutions supporting patients managing medications and accelerate revenues growth. Cris De Luca, Global Head, Digital Investments at Sanofi Ventures and David Klein, Co-Founder, Managing Partner ALIVE Israel HealthTech Fund will join Medisafe's board of directors.
"The COVID-19 pandemic has proven to us that supporting patients digitally through virtual care and leveraging data-driven insights, is going to be foundational to future models of healthcare and improving outcomes," said Cris De Luca, Global Head, Digital Investments at Sanofi Ventures.
"We've been following Medisafe and witnessed its massive growth as the healthcare industry is rapidly deploying digital solutions," said David Klein, Co-Founder, Managing Partner ALIVE Israel HealthTech Fund. "We're excited to partner with the company, its investors and partners at this inflection point to drive together to new heights."
Founded in 2012, Medisafe is the largest medication management platform with over 7M registered users globally. Medisafe's growth is rapidly accelerating as the healthcare industry turns to digital health solutions to support patients. Partnering with top global pharma companies and expanding opportunities across the health ecosystem, Medisafe deploys digital drug companions to holistically support patients throughout their unique therapy journey. Medisafe's advanced technology transforms patient behaviors powered by JITI™ (Just-in-Time-Interventions), AI data-driven personalized engine providing support for patients.
Over the past eight years, Medisafe has amassed a database of over four billion dosage behaviors informing JITI to maximize engagement and driving outcomes. In 2020, Medisafe expanded its platform first launching Medisafe Care Connector which links the all-critical human element into patient support programs digitally connecting patients with clinicians. Last September, Medisafe introduced Maestro, a proprietary no-code technology to build, deploy and optimize personalized journeys. Medisafe Maestro provides a scalable solution to activate patient journeys, orchestrate patient support interventions and increase overall speed to market.
"This investment allows Medisafe to expand holistic treatment support for patients to impact behavior change and ultimately outcomes. Medisafe is continuously advancing its technology to meet the dynamic needs of patients managing complex therapies," said Omri Shor, CEO and Co-Founder of Medisafe. "The future model of patient support is not purely digital but adaptable to empower human connections. In fact, we are seeing impressive results connecting clinicians and care givers into the support solutions with adoption rates 4x that of pure digital and increasing nurse-to-patient connectivity by 1.8x. We are excited to build out further capabilities to meet the evolving needs of the industry."
Medisafe is the leading evidence-based digital therapeutics company providing medication management solutions across the healthcare continuum, a $300 billion problem in the US alone. Medisafe supports patient journey's with AI driven technology that dynamically engages patients during the course of their treatment based on each patient's regimen, condition and specific circumstance. Medisafe fosters collaboration among patients, their loved ones and healthcare professionals, and partners with the healthcare ecosystem, from pharma companies to payers and providers, to improve outcomes. With seven million registered patient and caregiver users have recorded on Medisafe's platform over two billion successful medication doses on their iOS and Android smartphones and tablets and contributed 350,000 user reviews that average 4.7 out of 5 stars in the App Store and Google Play stores. Medisafe is a HIPAA and GDPR compliant solution and ISO 27001:2013 certified. For more information please visit www.medisafe.com.
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