HAP Innovations, which is developing technology to improve prescription accuracy and dispense medications, is looking to raise $6 million. It’s a spinout of Parata Systems, a developer of automated prescription technology.
So far, HAP has sold $700,000 in a private stock and debt offering, according to a Securities and Exchange Commission filing, Emily Brice reported for North Carolina Business News Wire.
The company filed the Form D on Sept. 18 and it did not disclose what it intended to do with the funds.
The money was raised from seven investors and included equity and debt. It is seeking to raise an additional $5.3 million.
HAP Innovations is a consumer health technology company that makes it easier for patients, family caregivers, pharmacists and other healthcare providers to provide expert care. The main product of the company is a “spencer.”
- VIDEO: Watch an overview of the technology at https://vimeo.com/182998031
“Our products and services define the future of healthcare by making it simple for patients, family caregivers, pharmacists, and other healthcare providers to stay in touch,” HAP says. “That’s why we’ve introduced spencer as the future of connected care.”
A spencer is a device that can confirm a correct prescription, dispense medication at the right time and record medication history in a secure virtual database. The spencer assist app connects patients, pharmacists, caregivers and other physicians to the data that is being recorded by the spencer.
Thomas Rhoads is the chief executive officer of HAP Innovations. He previously was chief executive officer of Parata Systems in Durham for 11 years. Before that, he was a project director in manufacturing for Cardinal Health Corp.