PatientSafe Solutions, a US-based hospital safety company backed by local drugs group Merck’s corporate venturing unit, has raised $20m in its series C round.
Last month, PatientSafe said it had raised $13m, according to an updated filing with the Securities and Exchange Commission.
Merck’s Global Health Innovation (GHI) fund led the C round and was joined by existing venture investors, including Camden Partners, TPG Capital, and Psilos Group.
Maxwell Kahn, an investment principal at Merck GHI, has joined PatientSafe’s board and said: “PatientSafe Solutions has the potential to deliver value for hospitals and health systems, with a focus on improving patient outcomes and lowering costs.”
His other board seat is Healthsense, which Merck backed in September as part of a $7m round and has just replaced its chief executive, Brian Bischoff, with AR Weiler.
The closing of the C round, followed PatientSafe, which was formerly known as IntelliDot, raising $5.5m of a planned $12m round in June, another filing said. At the time of the June fundraising news provider VentureWire, which spotted the latest filing, reported that the company had received $73m from investors including venture firms American River Ventures, Camden Partners , Integral Capital Partners , Menlo Ventures , Psilos Group, Shea Ventures, and Valhalla Capital. TPG Biotech led the company’s $30m series B-1 financing.
Joseph Condurso, who joined PatientSafe as president and chief operating officer in 2011, is now listed on its website as chief executive. PatientSafe Solutions is headquartered in San Diego, California and was founded in 2002.