Round Led by SWK Holdings Corporation and Accelmed Partners
NEEDHAM, Mass., Aug. 30, 2022 /PRNewswire/ -- MedMinder, the leader in connected pharmacy care for polypharmacy and senior patients, announced today it has closed an additional $35 million in funding through a credit facility with SWK Holdings Corporation and additional investment from existing equity partner, Accelmed Partners. The additional funding will allow MedMinder to further its mission of enabling patients to age at home by increasing capacity to meet growing demand, offering its holistic pharmacy services nationally, and building innovative virtual care, clinical, and technological capabilities.
MedMinder is trusted by thousands of polypharmacy and seniors - and their caregivers - to help manage their care at home. MedMinder's combination of an innovative, connected pill dispenser; convenient pharmacy care via pre-sorted medication trays; personalized clinical care; and robust analytic capabilities are purposefully designed to meet the unique needs of aging patients. Through extensive relationships with health plans, home health agencies, provider organizations, long-term care facilities and advocacy groups, MedMinder improves medication adherence, reduces adverse health outcomes, lowers the overall cost of care, and extends opportunities for aging at home.
"We are honored to establish a relationship with SWK and expand our relationship with Accelmed. Both partners are industry leaders who will be instrumental in helping us achieve our mission," said Mike Edwards, Chief Executive Officer of MedMinder. "The demand for our services from patients and payors has never been greater. This additional investment will allow MedMinder to more deeply impact the lives of polypharmacy and senior patients nationally."
"SWK is pleased to partner with MedMinder as it advances its mission to simultaneously improve patient quality of life and reduce overall health system costs," commented Winston Black, Chief Executive Officer of SWK Holdings. "This relationship aims to assist MedMinder in its continual endeavor to provide highly intuitive devices integrated with exceptional services to a critical yet overlooked and underserved portion of our population."
"Accelmed is delighted to expand its partnership with MedMinder. MedMinder represents a clear vision for addressing the vital opportunities that exist within care for high-risk and vulnerable patients," added Dr. Uri Geiger, Managing Partner of Accelmed. "Our partnership has resulted in significant growth that has helped to reduce the overall cost of our healthcare system while positively impacting thousands of patients through MedMinder's innovative solutions to long-term care. We are excited to accelerate our collective impact."
MedMinder is the leading connected pharmacy care solution for seniors and polypharmacy patients. Founded in 2007, MedMinder currently employs over 180 team members and is a recognized ultra-high-growth pharmacy care organization. MedMinder's touch screen-enabled, automatic pill dispenser is the first device on the market capable of offering medications from its integrated pharmacy directly to patients in pre-organized daily trays for the entire month. With a customer-centric approach, MedMinder is continually innovating to improve and meet the evolving needs of patients, caregivers, practitioners and payors. More information can be found at www.medminder.com.
About SWK Holdings Corporation
SWK Holdings Corporation (SWKH.OB) is a specialized finance company with a focus on the global healthcare sector. SWK partners with ethical product marketers and royalty holders to provide flexible financing solutions at an attractive cost of capital to create long-term value for both SWK's business partners and its investors. SWK believes its financing structures achieve an optimal partnership for companies, institutions and inventors seeking capital for expansion or capital and estate planning by allowing its partners to monetize future cash flow with minimal dilution to their equity stakes. Additional information is available on the company's website at www.swkhold.com.
About Accelmed Partners
Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over $400 million into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team's industry experience, operational and financial expertise, and strong global relationships. For more information, please visit www.accelmed.com.
Stacy Clougherty for MedMinder
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Aug 30, 2022, 09:00 ET