Digital Health Company Pack4U Secures $20 Million in Private Equity Funding to Optimize Prescribed Medication
MOUNTAIN VIEW, Calif., May 27, 2021 /PRNewswire/ -- Pack4U, a personalized medication delivery and monitoring company, today announced the closing of a US$20 million private equity financing round, to address the $528.4 billion annual cost of non-optimized medication therapy.
"We start by helping people take their medication as prescribed — with easy to use digital health tools — then we go beyond adherence to make sure that medications are doing what they should. With access to our real-time data, community pharmacists are playing a critical role in improving health outcomes," said Pack4U President Rahul Chopra.
People achieve 98% medication adherence with Pack4U's easy-to-use digital health tools. Pack4U connects high-risk patients at home to clinical pharmacists to monitor medication adherence, link medications to Bluetooth device readings, and use telehealth for two-way communication. Patients maintain their independence while the timing and complexity of their medications are managed with the help of a connected care team. Meanwhile, fully automated, high-volume central-fill hubs produce specialty medication packaging at scale, freeing up community pharmacist time for patient care.
Pack4U's connected technologies gather, share and correlate data in real time to personalize care.
"Our proprietary Connected Health technology platform is like a Swiss Army knife for reducing total cost of care. We are thankful to our partners in helping us rapidly scale our end-to-end patient managemen service," Chopra said.
Using technology to better care for people where they want to be — in their own home — has long been a goal, and COVID has brought the need mainstream, with patients asking for and expecting connected services such as telehealth. Pack4U has key initiatives underway with state Medicaid programs, health plans and physician groups using our Connected Health and integrated data systems to deliver medication oversight to keep patients safe and healthy at home.
Pack4U is guided by a board of directors comprised of top-tier technology and healthcare executives — dynamic leaders with decades of experience in pharmacy, wholesale, clinical care, health systems, digital technology, and managed healthcare.
Here is a list of Pack4U's board members:
Media Contact: Teresa Pavlin
From Managing Resources to Managing Performance
MSP EXPO #TECHSUPERSHOW Exhibit Hall Open
Is Cyberinsurance Worth It?