NORWALK, Conn., June 24, 2016 /PRNewswire/ -- HealthPrize Technologies, a digital health solutions provider focused on creating unique digital experiences proven to drive patient engagement, education and increased medication adherence, today announced the closing of its Series B round of financing. Existing and new investors participated in the financing round including Mansa Capital, an investor group which includes seasoned healthcare investors Robert Dahl and Trygve Mikkelsen, as well as former pharmaceutical executives Anthony Wild and Richard DeSchutter. As part of the financing, Messrs. Dahl and Mikkelsen will join the HealthPrize Board of Directors.
"HealthPrize is extremely fortunate to have both Bob and Trigve join the board," said board chairman Ruben J. King-Shaw Jr., Managing Partner and Chief Investment Officer at Mansa Capital. "Their experiences and insights will help us guide the company through continued growth."
Using a proprietary gamification approach, and patented technology, combined with a deep understanding of behavioral sciences and patient psychology, HealthPrize's Software-as-a-Service (SaaS), HIPAA-compliant platform consistently delivers high levels of patient engagement resulting in over 50% increased lifts in Rx adherence versus control.
Current HealthPrize customers and strategic partners include a number of top-20 pharmaceutical companies, a major retail pharmacy chain, and West Pharmaceutical Services. The company plans to expand into other healthcare verticals including the payer market, risk bearing provider groups and self-insured employers. HealthPrize has implemented programs across a number of primary care and specialty conditions in the U.S., and has programs in market or in development across North America, Latin America, Europe and emerging markets.
"HealthPrize has been leading the charge in digital for pharmaceutical companies, proving the value of behavioral economics, gamification, and incentives—in combination with education—in influencing positive habit formation for patients taking medications to treat chronic conditions," said Thomas Kottler, HealthPrize CEO. "Our customer portfolio continues to grow, as does our expansion into specialty medications where we believe HealthPrize can add tremendous value to patients, their caregivers and brands that serve them. We have some exciting partnerships and new clients announcements that will be made in the near term as well, highlighting our expansion in the U.S. and internationally."
The financing will be used primarily to expand the HealthPrize team to meet the growing demand for its software and services. The financing will also support the company in its international expansion and in its foray into other healthcare verticals.
HealthPrize provides a Software-as-a-Service (SaaS), HIPAA-compliant platform and services to create unique digital experiences proven to drive patient engagement, education and increased medication adherence for healthcare companies and pharmaceutical brands. Using a proprietary gamification approach, and patented technology, combined with a deep understanding of behavioral sciences and patient psychology, HealthPrize consistently delivers high levels of patient engagement resulting in over 50% increased lifts in Rx adherence versus control. For more information, visit www.healthprize.com and follow us on Twitter at @HealthPrize.
Karen Sackowitz, Corporate Communications
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SOURCE HealthPrize Technologies