Mobile Health Investment News: PatientTouch Secures $3M Strategic Investment

Telus’ $3M Strategic Investment to Bring PatientSafe to Canada

Full Article Below.

SOURCE: MobiHealth News, 3/12/2014, author: Jonah Comstock

PatientSafe Solutions, maker of mobile hospital workflow system PatientTouch, has secured a $3 million strategic investment and resale agreement from Telus Health, the healthcare arm of Canadian mobile operator Telus.

“This investment and exclusive reseller agreement is the latest validation of PatientSafe’s approach to supporting the future of healthcare on a global scale,” Joseph Condurso, president and chief executive officer of PatientSafe Solutions, said in a statement. “We appreciate Telus’ support and look forward to working with the company to bring the PatientTouch system to Canada. Together, we can provide healthcare organizations with smart point-of-care mobile tools that can drive better outcomes, safer care, lower costs, as well as patient and care team satisfaction across the healthcare continuum.”

The investment, which brings PatientSafe’s total funding to $66.4 million, will be used to help scale adoption of PatientTouch, the company’s self-proclaimed all-in-one healthcare offering for the iPod Touch. PatientTouch consists of an iPod Touch with a special rugged case equipped with a barcode scanner. Hospitals can use it in medication administration, specimen collection, infant care, care interventions, and care team communications.

Telus’ strategic investment follows a similar investment last fall from EDBI, the investment arm of Singapore’s Economic Development Board. EDBI’s $7 million investment facilitated PatientSafe’s expansion into Asian markets. Telus Health’s investment brings PatientSafe Solutions into the Canadian market, but it also gives Telus exclusive rights to resell the system in Canada. Telus Health’s OACIS Clinical Information system and EMR systems are already deeply interoperable with PatientTouch, according to the companies.

“The PatientTouch system has already demonstrated its potential in the United States, having been embraced by leading institutions,” Telus Ventures Vice-President Mathew George said in a statement. “We now look forward to bringing the technology north of the border to improve quality of care and positively impact patient outcomes.”

Previous investors in PatientSafe, formerly known as IntelliDot, include Merck GHI, Camden Partners, TPG Growth, and Psilos. Merck GHI led the company’s latest $20 million round in January.

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