PatientSafe Solutions Secures $30M Round, Report Says
PatientSafe Solutions (formerly IntelliDOT) has raised $30 million in a restructuring round of funding, according to a report in VentureWire. The San Diego-based startup, which develops technology that is intended to prevent costly errors in hospitals, is raising the funds as it plans to expand its product offerings.
VentureWire reports that the lead backers in the round included TPG Biotechnology Partners, Camden Partners, and Psilos Group Managers. Company CEO James Sweeney told VentureWire that his firm, which changed its name from IntelliDOT to PatientSafe last year, has raised a total of $73 million since 2003. PatientSafe provides hospitals with wireless systems that are intended to prevent medical errors, infections, and injuries.
Xconomy has previously spoken to Sweeney, a serial health IT entrepreneur who became CEO of PatientSafe (then IntelliDOT) in the first half of 2009, about the huge potential for wireless technologies in healthcare.