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Investment firm BVP has announced a €1 million investment in Irish digital health group HealthBeacon, which creates smart tools to help patients manage medication.
HealthBeacon’s core product is a smart sharps bin that is used by patients who inject medication at home. The bin is digitally connected to a patient’s phone and is used for the disposal of injector pens and syringes, tracking patient adherence to a medication regime.
The bin can also provide prompts to the patient to stay on-track with their medication.
It has proved popular to pharma companies as it improves medical adherence for high-value home-injectable medications, and received marketing approval earlier this year form the US regulator, the Food and Drugs Administration.
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Founded by Jim Joyce and Kieran Daly, HealthBeacon, in which Oyster Capital and Elkstone Partners are investors, is looking to close out a €5 million investment round.
BVP, which is run by Elliott Griffin, is an investor in green and SME businesses. Its portfolio features more than 20 companies, including UrbanVolt and Crowley Carbon.
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