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.
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.
