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US healthcare firm WellDoc bags $20M to market diabetes mobile app

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January 10
3:20 PM 2014

WellDoc has raised $20 million from Windham Venture Partners and Merck Global Health Innovation Fund. The new capital will be used to market a mobile prescription program for type 2 diabetes, according to Forbes.

Ryan Sysko, founder and chief or WellDoc, said: "Big pharma is starting to understand that they need to move from a widget sale to a solution sale to support patients holistically. It [Merck investment] signifies a transition of what it takes to manage a chronic condition."

BlueStar, WellDoc's product, became the first disease therapy to be prescribed via a mobile app in June 2013. After a pharmacy gets the prescription from a doctor, the claim is adjudicated and forwarded to WellDoc. The company then sets up BlueStar for the physician and the patient, the report detailed.

The newly raised funding will be used to hire salesforce to market the mobile prescription product nationwide. Trainers will also be hired to teach patients how to download and use the BlueStar app, the report stated.

The Maryland-based company had previously raised $35 million in equity and debt from angel investors, Forbes reported.

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