PatientSafe Receives $3M Investment From a Canadian Telecom CompanyWednesday, March 12, 2014
San Diego-based mobile health care software developer PatientSafe Solutions Inc. has received a $3 million investment from Telus Ventures, the investment arm of Canadian telecom giant Telus Communications Co. (TSE: T).
The company closed a $27 million Series C round this past September. Other investors in the company include the Merck Global Health Innovation Fund, Camden Partners, TPG Biotech, Psilos Group and EDBI.
The investment will help PatientSafe commercialize its clinical workflow platform, PatientTouch. The system consolidates electronic health-record information and makes it accessible on a mobile device, like a smartphone or tablet, allowing caregivers to access information and communicate from a patient’s side.
The deal also will grant Telus exclusive resell rights to the PatientTouch system in Canada, and will introduce PatientSafe to international telecommunications partners.
The privately held company is headquartered in Sorrento Valley, and employs about 70. Its software is being used in more than 75 hospitals around the U.S.