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.

Author: Ryan McBride

Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News. Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.