PatientSafe Solutions, a US-based developer of communication and workflow management software for the healthcare industry, has completed a $25m financing round featuring pharmaceutical firm Merck & Co.
Investment firm HighBar Partners led the round, which included private equity firm Camden Partners, healthcare-focused investment firm Psilos Group and private equity group TPG, while Merck invested through its Merck Global Health Innovation Fund (GHI).
Founded in 2002, PatientSafe has created a mobile platform that integrates a patient’s electronic health records and a care provider’s clinical and communication infrastructure into the workflows used by its internal teams.
Si Luo, PatientSafe’s president and CEO, said: “We are excited to announce this latest round of funding led by experienced enterprise software investors who support a methodical, long-term approach to building high-impact and sustainable businesses in the healthcare setting.
“This latest funding strengthens our ability to serve large-scale enterprise customers while continuing to develop and deploy a patient-centric communications and workflow network that unifies the patient, family and care team across the continuum of care.”
PatientSafe has now raised approximately $135m in funding in total, according to press releases and regulatory filings.
Telecommunications firm Telus invested $3m in the company in 2014, the year after Merck GHI led its $20m series C round, which included Camden Partners, TPG Growth and Psilos. PatientSafe received another $7m from the Singaporean state-owned EBDI the same year.
TPG Growth, Camden Partners and Psilos had also backed PatientSafe’ $30m series B round in 2010, alongside Shea Ventures, the corporate venturing arm of property developer JF Shea, Menlo Ventures, American River Ventures and Integral Capital Partners.
Shea Ventures had previously contributed to a $10m round for the company in 2007 that was led by Psilos Group and backed by Menlo Ventures, American River Ventures, Integral Capital Partners, Shoreline Ventures and angel investor Dick Allen.