PatientSafe Raises $27 Million Series C to Fund Global Expansion

9-25-2013 9-00-12 PM

San-Diego, Calif.-based PatientSafe Solutions, a mobile point-of-care device manufacturer raises a $27 million series C round led by Merck Global Health Innovation Fund, with participation from Camden Partners, TPG Biotech, Psilos Group, and EDBI, the investment arm of the Singapore Economic Development Board.

The funding will be used to move PatientSafe’s manufacturing and global supply chain management departments to Singapore, where the company will work to consolidate its overall manufacturing processes, and work to develop a presence in the Asia-Pacific healthcare market.

“The company’s presence in Singapore will contribute additional momentum to our already-strong climate of health innovation and technology leadership, and will offer a solid foundation for PatientSafe to capitalize on the expansive Asia Pacific healthcare market.” – Swee-Yeok Chu, president and chief executive officer of EDBI.

PatientSafe markets the PatientTouch clinical workflow system that comes pre-loaded on a customized iPhone or iPod Touch. Designed for nurses, it provides barcode access to patient charts, displays real time with inbound patient information, facilitates HIPAA-compliant text messaging, and generates alerts and reminders to help coordinate care.

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