Kit Check, the US-based developer of a medication tracking platform for hospital pharmacies, raised $15m on Monday in a series C round led by pharmaceutical company Baxter International.
Baxter, which invested through its Baxter Ventures subsidiary, was joined by care consortium Kaiser Permanente’s Kaiser Permanente Ventures unit and Rex Health Ventures, a venture capital fund managed by care system Rex Healthcare.
The round’s non-corporate investors were New Leaf Venture Partners, Easton Capital Investment Group, LionBird, Sands Capital Ventures and Black Granite Capital.
Founded in 2012, Kit Check provides software that automates medication kit processing and medication tracking for hospital pharmacies, notifying users when certain medicines need to be restocked.
Kevin MacDonald, Kit Check’s co-founder and CEO, said: “Kit Check has proven these solutions deliver strong benefits to hospital pharmacies and can be provisioned at scale. We look forward to using this new investment to further expand our market share leadership and extend our solutions to automate new hospital processes.”
The round brought the company’s total funding to $37.4m and follows a $12m series B round in January 2015 backed by Kaiser Permanente Ventures, Rex Health Ventures, New Leaf, Sands Capital, Easton Capital and LionBird, the latter four of which invested $10.4m in 2013.
– Photo courtesy of Kit Check