Kit Check, a US-based developer of kit processing and medication tracking software for hospital pharmacies, yesterday closed a $12m series B round led by Kaiser Permanente Ventures, the corporate venturing unit owned by healthcare consortium Kaiser Permanente.
Rex Health Ventures, the investment arm of non-profit healthcare system Rex Healthcare, also participated in the round, which included New Leaf Venture Partners, Sands Capital Ventures, Easton Capital Investment and LionBird.
New Leaf, Sands Capital, Easton Capital and LionBird previously provided $10.4m for Kit Check’s series A round in 2013.
Kit Check has developed cloud-based software that can process and track kits issued from hospital pharmacies. Last year it also launched a second product, Anaesthesia Check, which tracks medications from the pharmacy through to the waste process.
Kevin MacDonald CEO and co-founder of Kit Check, said: “Manual medication tracking in hospitals is costly and introduces unacceptable patient risk in today’s healthcare environment. We are excited to be making such a big impact for the industry and for patients.”