Navigation Links
PatientSafe Solutions, Inc. Closes $30 Million Financing
Date:2/8/2010

SAN DIEGO, Feb. 8 /PRNewswire/ -- PatientSafe Solutions, Inc., a San Diego-based innovator of patient safety solutions that help to eliminate hospital-based medical errors, announced today that it has closed $30 million in Series B-1 financing. The financing was led by TPG Biotech, the leading science-based venture investment arm of the global private equity firm, TPG Capital. Co-leads for this financing include Camden Partners and Psilos Group, a previous investor. Additional participants in this financing included Valhalla Capital along with previous investors Menlo Ventures, American River Ventures, Integral Capital Partners, and Shea Ventures. The funds will be used to complete development of the company's next generation product and further accelerate the adoption of comprehensive patient safety solutions in the U.S. hospital market.

"We are pleased with the tremendous level of interest in improving patient safety and our vision's ability to attract excellent investors and business partners. These investments provide the necessary resources to meet our goals while advancing our strategy to provide solutions that foster patient safety, patient & family satisfaction, and nurse satisfaction," commented James M. Sweeney, Chairman and CEO of PatientSafe Solutions, Inc.

PatientSafe, formerly known as IntelliDOT Corporation, has been an industry leader in patient safety over the past 7 years, evidenced by the market acceptance and deployment of their first generation product in approximately 90 hospitals across the country. To date, the product has been used to administer over 55 million successful medication passes. The company's next generation product, the PatientTouch System is a revolutionary technology platform that helps hospitals provide a last line of defense against preventable errors, including medication errors, hospital acquired infections and patient falls, at the point-of-care through clinician workflow optimization and patient engagement.

"We are excited about working with PatientSafe Solutions and supporting their strategy to improve patient safety. We are confident in the technology platform and management's ability to execute," commented D. Keith Grossman, Managing Director of TPG and new PatientSafe Board Member. Christopher W. Kersey, Managing Member of Camden Partners and new PatientSafe Board Member commented, "We have worked with Mr. Sweeney in the past and believe he has the right team in place to successfully deliver, once again. Patient safety is an issue for all hospitals and there is a sense of urgency to address it. We are excited to work with PatientSafe Solutions as the company moves to fill this gap in healthcare." Lisa M. Suennen, co-founder and Managing Member of Psilos and continuing PatientSafe Board Member said, "The PatientSafe team has superior domain expertise and understands how to deliver the right product for the market. Patient safety is a key component in delivering immediate improvements in quality care and cost reduction and the PatientTouch System is properly positioned to take advantage of this emerging need."

About PatientSafe Solutions, Inc.:

PatientSafe Solutions, Inc. designs hardware and software solutions to provide patient safety and improve patient, family, and nurse satisfaction in hospitals. PatientSafe is creating a virtual Cone of Protection(TM) around the patient. The Cone of Protection will enable continuous protection against potential medication errors, hospital acquired infections, and patient falls in the hospital. The Cone of Protection is delivered through a nurse handheld, a bedside portal and a patient wristband to create the ultimate patient safety solution – The PatientTouch System.

PatientSafe Solutions is headquartered in San Diego, California and is a venture capital-backed private company. More information can be found at www.patientsafesolutions.com

Contact: Gregg Imamoto

PatientSafe Solutions, Inc.

+1-858-746-3141

SOURCE PatientSafe Solutions, Inc.

RELATED LINKS
http://www.patientsafesolutions.com

'/>"/>

SOURCE PatientSafe Solutions, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Centerphase Solutions, Inc. Launches New Clinical Trials Business Model Company
2. Transgenomic, Inc. Executes License Option agreement for Parkinsons Disease Diagnostic Markers with Gene Solutions, LLC
3. Sleep Solutions, Inc. Names Richard Hassett, M.D., New CEO
4. Landauer Acquires Global Physics Solutions, Inc. as Platform to Expand Into Medical Physics Services Market
5. Statement by Don Spence, CEO, Philips Home Healthcare Solutions, Endorsing CDC Educational Initiatives to Raise Awareness of Sleep Deprivation
6. MedShape Solutions, Inc. Appoints Jack Blair and Tom Hills to Board of Directors; Announces Additions to Management Team
7. Facet Solutions, Inc. Expands U.S. Pivotal Study With Next Generation Implant System
8. Image Solutions, Inc. Acquires Zurich Biostatistics, Inc.
9. Oxford Finance Corporation Closes $25 Million Credit Facility with EUSA Pharma
10. Diffusion Pharmaceuticals LLC Closes on $5.9 Million Financing
11. Recondo Technology Closes Fiscal Year 2009 With Record Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... , Feb. 4, 2016 Worldwide Radiology ... significant growth as next generation systems provide a ... radiology for cancer surgery. New systems pinpoint the ... that has been such a problem previously, limiting ... Radiosurgery robots take cancer surgery far beyond what ...
(Date:2/4/2016)... LONDON , Feb. 4, 2016 ... Summary Global Markets Direct,s, ,Wegener Polyangiitis - ... the Wegener Polyangiitis,s therapeutic pipeline. This report ... Wegener Polyangiitis, complete with comparative analysis at various ... action (MoA), route of administration (RoA) and molecule ...
(Date:2/4/2016)... 2016 Global Immunology Market to 2022 ... long-term market growth Summary Immune-mediated inflammatory ... disorders that affect 5–7% of western populations. Although ... symptoms and key patient demographics, they are pathophysiologically ... and an inappropriate immune response. Generally, disease-modifying anti-rheumatic ...
Breaking Medicine Technology:
(Date:2/6/2016)... ... February 06, 2016 , ... With the FCPX LUT: Summer ... grades to their footage. A LUT is a Lookup Table that contains a mathematical ... color indicated by the table. By manipulating each pixel, LUT's can change each color ...
(Date:2/5/2016)... ... 05, 2016 , ... VeloReality President and co-founder ... LYNX VR Indoor Trainer with multi-rider capability to an enthusiastic audience at the ... reduce the weight of the unit, they also enhance the rider's experience with ...
(Date:2/5/2016)... Santa Rosa, CA (PRWEB) , ... February 05, ... ... are pleased to announce the addition of micro-needling services in their Napa Valley ... appearance. The founders of Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are ...
(Date:2/5/2016)... ... February 05, 2016 , ... US Sports Camps , official operators ... to direct high-performance kids yoga training. ChildLight Yoga Studio is centrally situated in the ... Boston. , ChildLight Yoga Studio founder Lisa Flynn expresses her excitement, “We are thrilled ...
(Date:2/5/2016)... ... February 05, 2016 , ... Boar’s Head Brand®, one of the nation’s ... weekend’s Big Game. Take the stress out of your party preparation – follow these ... at every stage of the game. , “The key to hosting a successful game-day ...
Breaking Medicine News(10 mins):