What is PharmID?
PharmID is at the forefront of medication management, leveraging its proprietary WasteWitness technology. This innovative system employs Raman spectroscopy and artificial intelligence to ensure the complete integrity of controlled substance disposal. By providing accurate and rapid validation of drug waste, PharmID significantly enhances patient safety and bolsters regulatory compliance for healthcare providers. The company offers flexible deployment options for hospitals and pharmacies, aiming to streamline waste verification processes, automate documentation, and build greater trust and accountability in medication disposal.
How much funding has PharmID raised?
PharmID has raised a total of $1.2M across 2 funding rounds:
Private Equity
$1M
Debt
$150K
Private Equity (2017): $1M with participation from TreeHouse Health
Debt (2020): $150K led by PPP
Key Investors in PharmID
TreeHouse Health
TreeHouse Health is a veteran-owned marketing, design, and development agency based in Syracuse, NY, specializing in services such as marketing, design, media production, and strategy. The agency focuses on enhancing brand visibility and driving sales through innovative strategies and superior application design.
PPP
Public-Private Partnership
What's next for PharmID?
With the recent major strategic investment and substantial overall capital, PharmID is poised for significant expansion. The company's focus on critical areas like patient safety and regulatory compliance in medication management positions it for strong growth within the healthcare sector. Future developments are likely to involve scaling its WasteWitness technology to a broader range of healthcare facilities and potentially exploring new applications for its advanced verification systems. This strategic financing will undoubtedly fuel further innovation and market leadership.
See full PharmID company page
