Berkshire Biomedical, a medical equipment manufacturer based in Dallas, announced that it had acquired third-party funding totaling $3 million, which the company will use to advance the development of its prescription-drug and virtual-care management system. The system uses dual biometric authentication, which includes dental recognition.
The biometric system is currently not available for commercial use but will be used to curb nonadherence to medication. The company states that medication nonadherence causes roughly 125,000 deaths in America each year and makes up nearly 10% of hospitalizations.
The system’s main product is COPA, a computerized oral prescription administrator. COPA will help improve the results of customer-specific virtual medicine delivery through the use of data and technology. The system ensures that a specific individual receives a particular dosage of medication prescribed for them, through the help of biometric authentication.
Dallas Innovates notes that COPA has not only proven to be effective in handling e-prescribing formats and workflows but has also been found to be advantageous in various ways for pharmacists, patients and physicians. The system was tested and proven to be efficient as well.
The company explains that to operate the product, a mobile-powered handheld device, which allows the transmission of practical dosing parameter information in actual time, will be used. This will assist health-care personnel in managing different patients’ therapeutic regimen.
The company’s report also highlights that the device will be linked to a cloud storage platform, which allows patients to use dentition and fingerprint recognition, ensuring that drug, security and safety measures are adhered to.
Berkshire Biomedical chairman and founder Thomas Rouse stated that the new financing that the company had secured was a good opportunity for its market growth. He explained that the funds would be invested in various ways that would help commercialize its product, which is currently being reviewed by the U.S. Food and Drug Administration (“FDA”).
In a statement, Rouse added that the company was also looking for and entering collaborations with a few strategic partners this year, in preparation for market clearance by the FDA. He noted that the company’s objective was to initiate partnerships with top-tier investors and partners that would adopt digital therapeutic solutions and critical virtual care in the rapidly evolving healthcare ecosystem.
Prior to securing the $3 million in funding from third-party investors, the founders of Berkshire Biomedical are said to have financed the company’s product development and operations entirely.
Meanwhile United Medical Equipment Business Solutions Network Inc. has carved out a niche for itself as the go-to firm for technology, information and equipment needed to ensure the health and safety of veterans, seniors and medical workers.
NOTE TO INVESTORS: The latest news and updates relating to United Medical Equipment Business Solutions Network Inc. are available in the company’s newsroom at https://ibn.fm/UnitedMed
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