iRxReminder gets $250K in seed funding round

March 10
8:56 AM 2014

Akron, Ohio-based mobile health application service provider iRxReminder Llc has bagged $250,000 for its seed financing round, a statement about the funding said.

The financing came from an unnamed angel investment group based in Washington, DC. Proceeds from the latest funding round bring to $458,000 the total amount raised by the startup so far. The funds will be used to improve and promote its technology and healthcare patient management system. The amount will be released to the company upon meeting certain milestones. These targets include finishing its unique add-on technology and submission to the FDA, the statement said.

In a statement, iRxReminder Chief Executive Officer Anthony Sterns said about the funding, "Mobile technology solutions will accelerate the vital and needed change in our healthcare delivery system. Our system leads to activated patients, comprehensive real-time care, and for our customers, better outcomes with significantly reduced costs. Our system is at the forefront of these changes and this funding provides the needed capital for us to broadly promote our system with researchers in the near term. We are also seeking early adopters in accountable care organizations, integrated delivery networks and payers who want to reap the early benefits of our unique mobile healthcare management technology."

The iRxReminder app, a tool that is utilized to perform care management or intervention studies of those suffering from conditions like cancer, diabetes, autoimmune disorders and heart disease, can be downloaded from the Apple App Store. The startup also intends to get their automated dispensing and verification medication dispensing system known as the iLid approved by the FDA as a medical device and comprehensive patient-centered management and education system, the statement said.

A representative for the investors said in the statement, "We are confident in the ability of iRxReminder's management to execute the company's business plan to support improved health outcomes and health research through the iRxReminder suite of products."

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