Mobile health technology company PatientSafe Solutions has closed a $20m Series C financing round led by the Merck Global Health Innovation (GHI) fund and with participation from investors including Camden Partners, TPG Capital and Psilos Group.
As part of the financing, Max Kahn, an investment principal at Merck GHI, has joined PatientSafe’s board of directors.
Proceeds from the financing will be used to drive hospital and health system adoption of the company’s mobile technology.
Joe Condurso, president and CEO of the company, said, “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. I am delighted to work with Max Kahn and the Merck GHI team to build an open ecosystem of partners to continue to serve our current and future clients across all settings.”
Lead investor Merck Global Health Innovation is a strategic investment arm of the global healthcare leader, Merck & Co. GHI seeks to invest in breakthrough healthcare innovations that are adjacent to Merck’s core healthcare businesses.
“PatientSafe Solutions has the potential to deliver value for hospitals and health systems, with a focus on improving patient outcomes and lowering costs,” said Kahn. “Merck Global Health Innovation fund continues to establish a portfolio of investments in companies with synergistic capabilities that align well with Merck’s vision for the future of healthcare.”
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