Spencer Health Solutions has raised $43 million to accelerate the growth of its medication adherence platform in global markets.
The health technology company is focused on improving patient engagement and medication adherence for clinical trials and commercial pharmaceutical programs, while also provider better support for patients at home.
Its spencer® medication dispensing technology, a data-driven platform which integrates pill dispensing, analytics, and telehealth technology, is currently used by more than 5,800 patients across the US, Canada and Europe.
Spencer Health Solutions announced it has successfully closed a Series D funding round, having raised an initial $43 million, with additional funding expected by the end of the year.
The latest cash injection is expected to support its continued growth in these markets and expand its global footprint with capital for devices, new operational team members, and sales and marketing resources.
Commenting on the raise, Tom Rhoads, CEO of Spencer Health Solutions, said: “Our Series D will convert our debt to equity and bring in new capital to help us scale pharmaceutical company growth in clinical trials and patient support services from the home.”
“This round of funding reflects our progress in building partnerships with several major pharmaceutical companies, global clinical packagers, and regional and national specialty pharmacies. It will also help support and scale several major chronic care provider contracts recently awarded in US, Canada and Europe. It is an exciting time at Spencer Health Solutions.”
