Moorestown, NJ, August 2013 – CareKinesis, Inc. Chairman and Chief Executive Officer Calvin H. Knowlton, PhD announced today that CareKinesis has completed a growth equity investment from Radius Ventures, LLC.
CareKinesis partners with healthcare providers and payors to provide personalized medication management and pharmacy services for high-risk populations, resulting in improved patient outcomes and enhanced operational efficiency. The company’s patented electronic medication system and personalized pharmacy program is proven to reduce patient hospitalization.
“We have developed unique technology that better manages medications for elderly patients through superior safety, adherence, and information transparency,” said Dr. Knowlton. “Our system has proven results for PACE participants (Program of All-inclusive Care for the Elderly). Now, we are eager to leverage our platform and expand into other markets that serve frail elderly patients. The investment from Radius will allow us to continue to grow in the PACE market while also exploring new markets. Radius’ resources, expertise and contacts in the healthcare arena, will be invaluable to our future growth.”
Radius Ventures Managing Partner, Daniel C. Lubin, commented, “CareKinesis fits our investment strategy of providing strong, high-performance management teams with growth capital and strategic support to rapidly expand their solutions into new and existing markets. We see a significant opportunity to leverage technology, software, actionable data and improved protocols to bring advanced population management tools to improve care for the elderly. With healthcare costs rising, particularly for the elderly, CareKinesis provides a strong value proposition by reducing hospitalization through better medication compliance and fewer adverse drug events. The management team is very experienced, has done this before, and has proven their offering in the challenging PACE market. Radius will be working closely with management to grow in PACE and bring CareKinesis into new, larger markets.”
PACE organizations nationwide rely on CareKinesis to increase medication adherence and reduce participant hospitalizations. CareKinesis accomplishes this through real-time involvement of geriatric pharmacists, a patented electronic medication platform, adherence packaging, and flexible medication access options. According to Knowlton, “CareKinesis’ vision is to improve lives by optimizing the medication use process.”
CareKinesis is a technology-enabled national medication risk mitigation pharmacy with advanced web-based medication decision support and adherence software, focused on organizations that service individuals with complex medication needs. For more information, visit www.carekinesis.com.
About Radius Ventures, LLC
Founded in 1997, Radius Ventures invests in leading-edge, expansion-stage healthcare technology and service companies. The firm is led by seasoned investment professionals with experience across the industry, including health services, healthcare information technology, life sciences and medical technology. Radius partners with high-performance management teams to drive organic growth by providing strategic guidance and “C-suite” access to major customer prospects and strategic partners. Central to the firm’s investment strategy is providing growth capital to well-managed companies addressing large markets with scalable, high-margin, recurring revenue business models. For more information visit www.radiusventures.com.
Orsula V. Knowlton, PharmD, MBA, President