The Series C round was led by Merck Global Health Innovation Fund with participation from Camden Partners, TPG Biotech, and Psilos Group.
The company said it will use the funding to expand into the Asia Pacific (APAC) healthcare market as well as for further promotion of its clinical mobility platform PatientTouch System in the US.
It noted that healthcare expenditures in the APAC region are expected to almost double in the next six years, driven by China, Japan, and India, according to a recent report from Frost & Sullivan.
EDBI president and CEO Swee-Yeok Chu said, “PatientSafe’s innovative smart point-of-care mobile solution is directly aligned with Singapore’s goals of improving patient safety and outcomes while lowering costs.
“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.”
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