Medication Mgmt. Vendor Raises $30M

PatientSafe Solutions Inc., formerly known as IntelliDOT Corp. and vendor of a wireless, bar code-supported medication administration management system used in about 90 hospitals, has raised $30 million in private financing.

The San Diego-based company will use the funds to complete development of its next generation product, called the PatientTouch System. It will expand patient safety services beyond mediation error prevention to include protection against hospital-acquired infections and patient falls.

Investors participating in the funding round include TPG Capital, Camden Partners, Valhalla Capital, Psilos Group, Menlo Ventures, American River Ventures, Integral Capital Partners and Shea Ventures.

--Joseph Goedert