PatientSafe Solutions, a provider of point-of-care patient safety clinical workflow applications, has received a $7 million investment from Singapore-based EDBI, bringing its total Series C round of funding to $27 million. The round, which initially saw $20 million invested in January, was led by Merck Global Health Innovation Fund.
Proceeds from the round will be used to further U.S. adoption of PatientSafe’s mobile solutions, as well as to expand into the growing Asia Pacific healthcare market. As part of the expansion, the company will consolidate its hardware manufacturing and global supply chain in Singapore, while keeping its primary product development and design teams headquartered in San Diego. The new investment, which brings PatientSafe’s total backing to about $99 million, gives the company an estimated $106 million valuation.