, a developer of radio frequency tracking technology for use in tracking medical equipment and patient tracking, has closed on the first $2 million of a new round of financing.
The deal was disclosed a day after RadarFind announced a deal with WakeMed Health & Hospitals for its “Real Time Location System.”
VentureWire reported the funding, based on information from RadarFind Chief Executive Officer Terry Kane.
RadarFind is looking to raise $8 million in the “C” round of funding, VentureWire said.
WakeMed will use RadarFind technology to track assets such as equipment as well as patients.
“Knowing where our equipment is and how it is being used allows nurses to spend more time with their patients instead of looking for equipment,” said WakeMed’s Director of Information Services Consulting Mary Schilder. “The RadarFind system also provides information about how we use our assets, which is enabling us to make better business decisions.
“Our role in developing the second generation of this system has demonstrated that this asset tracking technology offers ease of use, scalability options, including patient tracking, and strong potential for return on investment,” she added/