Irish digital health company, HealthBeacon has raised €5.5 million in its recent funding round.
It said the money will be be used to expand its 'Injection Care Management System' into new global markets.
This funding round, which included Elkstone Capital, Cantor Fitzgerald Private Clients, Oyster Capital, BVP and Enterprise Ireland, brings the total amount raised by the company to €18 million to date.
HealthBeacon, which currently employs 30 staff in Dublin, said it will create 70 new jobs over the next two years.
It said demand for their ‘Injection Care Management System’, which allows patients to self-administer injectable medication in their homes through their FDA cleared ‘Smart Sharps Bin’ technology, has accelerated significantly due to Covid-19.
Speaking about the recent funding round, Jim Joyce, CEO and Co-Founder, HealthBeacon said that healthcare is moving to remote-care, as a result of the pandemic.
"HealthBeacon has been in 10,000 patient homes in 13 countries and we are anticipating growth to hit 20,000 in the next 18 months so will need to upscale and expand our team".
"Our smart tool helps people with a chronic disease to manage their treatment in a home setting, safely, keeping them out of hospital.
"We had targeted €4 million from this funding round and were oversubscribed, so will close out over target at €5.5 million," he said.
