WRAL TechWire

MORRISVILLE, N.C. – Spencer Health Solutions, Inc., a pharma services and health technology company, announced today the successful close of its Series D funding round, having raised an initial $43 million with additional funding expected before the end of the year.

New York, USA, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Global Patient Engagement Solutions Market in 2021 was worth USD 13.42 billion, and by 2030 it will reach USD 74.28 billion, with a 20.93% CAGR. Patient engagement solutions help patients to manage their healthcare information and enable better patient interaction with the healthcare team. Wearables, educational resources, mobile apps, and other technologies are used by healthcare professionals to engage their patients. In order to make informed health decisions, these solutions give patients quick access to doctors and real-time monitoring of vital body signs. [Spencer Health Solutions Partnership with Advantage Healthcare Services featured in the "Recent Developments" section.]

We believe this agreement (with Spencer) will create a transformational patient experience. The smart hub is an at-home medication device that connects patients and their care teams through an integrated platform (said Christoph Koenen, Otsuka Pharmaceutical executive vice president and chief medical officer) … The smart hub helps increase patient engagement and raise medication adherence. The product will be used for both medication management and telehealth visits with care providers.

The time has arrived for innovative approaches to engage patients at home in clinical trial research (said Spencer Health Solutions CEO Tom Rhoads). … “Now is the time to deliver the future of clinical trials, accelerate drug development and improve the lives of patients,” said Craig Lipset, an industry pioneer for clinical trial innovation who recently joined the advisory board for Spencer Health Solutions.

Spencer Health Solutions … demonstrated over 90 percent engagement with the surveys on its device, which dispenses medication and connects patients to providers for telehealth visits, among other things.

Spencer Health … is striking up alliances with pharma companies, helping them monitor how patients take their drugs at home while also providing the drug makers insight about how the medicines in clinical testing are working. Remember your meds: Durham firms aims to be ‘home health platform’ with smart dispensing tech

… the company recently inked a partnership deal with Otsuka Pharmaceutical, which will use the smart hub product in its clinical trials and for commercial applications … “For pharmaceutical and biotechnology companies, engaging patients at home expands recruitment with access to more patients, accelerates time to market for new drugs, and provides reliable, real-time data on medication adherence, patient safety, drug efficacy and study protocol compliance,” (said CEO Tom Rhoads).