While the medical industry continues to churn out medications to fight life-threatening diseases, one terminal issue continues to elude it — medication adherence.
Once a patient is at home, any number of challenges can interfere with the doctor’s orders. It can be difficult for someone taking multiple pills to pay for refills, keep up with complicated dosing schedules or know how and when to take their pills.
Failure to follow medication as prescribed has caused an estimated 125,000 deaths and cost the U.S. health care system up to $289 billion annually, according to an Annals of Internal Medicine review.
Pillo Health, hopes to solve that problem, and they just raised an $11 million Series A to do it.
The Boston-based company’s solution lies in its in-home, voice-enabled medication and care management platform. The device is designed to connect with patients in their homes to deliver medication instructions and address issues.
And with six in 10 Americans living with a chronic condition, Pillo has the potential to improve health outcomes and boost longevity and quality of life for a large share of the population.
Stanley Black & Decker’s corporate venture capital branch led the round, with participation from Samsung Ventures and Hikma Ventures. Existing investors BioAdvance, Hackensack Meridian Health System’s Innovation Center Fund and Civilization Ventures also participated.
