Rex Health Ventures is one of two new investors in a $12 million “B” round of venture financing for Washington, D.C.-based startup Kit Check.
Kaiser Permanente Ventures, also a new investor, led the round.
Kit Check provides cloud-based software for tracking hospital medication and anesthesia medication tracking. The company raised a $10.4 million A round in July 2013.
“Kit Check has identified a big opportunity in the pharmacy to reduce cost and improve accuracy in medication dispensing,” said Bobby Helmedag, director of Rex Health Ventures.
“The team recently extended this concept into the surgical suite to help anesthesia providers with critical labeling, recording and medication administration activities. As the healthcare industry continues its focus on cost reduction while maintaining high levels of accuracy and patient safety, Kit Check is proving to be effective on all three fronts. Rex Health Ventures made this investment because Kit Check has delivered clear value and impressive traction with hospital users.”
Rex Health Ventures is the investment arm of Rex Health Care in Raleigh.
Kit Check now works with 144 hospitals, 101 of which were added in 2014.
Its products include could-based software and RFID tracking.
Other investors include: New Leaf Venture Partners, Sands Capital Ventures, Easton Capital Investment Group, and LionBird.