PharmRight Completes Final Closing of $2.2M Series A Funding

PharmRight Corporation, a healthcare technology company based in Charleston, SC, has completed a final closing under its offering of Series A Preferred Stock bringing the total amount raised to approximately $2.2 million.  The investment will be used for production tooling, working capital, personnel, building revenue pipeline and for general corporate purposes.

Formed in 2013, PharmRight Corporation produces devices and offers services that maximize medication adherence and allow patients to age in place.  The company has developed Livi, an innovative, fully-automated home medication dispensing system. Livi is designed to simulate the supervision of an on-site caregiver by prompting the user to take the right medication…at the right time…in the right quantity…with the right instructions under the Internet-enabled remote oversight of a caregiver or a team of caregivers.

A cloud application monitors and captures all user interactions with the system.  Family members and professional caregivers can be alerted via text message or e-mail if a user misses a dose or requires a re-fill.  Comprehensive medication adherence reports are available via computer and mobile devices.

In October 2015, the company completed a second closing of $1.6 million under its offering of Series A Preferred Stock in an investment led by Lowcountry Angels, the South Carolina Angel Network (SCAN) affiliate based in Charleston. It was joined by investors from Asheville Angels, Spartanburg Angels, and Capital Angels in Columbia.