Intent Solutions Raises $1.5 Million in Seed Capital
Announces first equity round of financing to drive growth in 2017
ATLANTA, Nov. 14, 2016 /PRNewswire/ -- Intent Solutions™, creator of the breakthrough medical device technology TAD™, announced today that is has successfully completed a seed round of funding of $1.5 million.
TAD, for "Take As Directed," is a smart, mobile, medication dispenser that helps patients obtain better health outcomes by helping the right patient take the right dose at the right time. TAD, which can be programmed to a specific regimen and schedule, incorporates biometric access and is fully tamper resistant. The medication dispenser also records adherence data, which is sent to a cloud database for analysis, reducing errors and simplifying data reconciliation for clinical trials.
TAD(TM), for "Take As Directed," is a smart, mobile, medication dispenser created by Intent Solutions(TM) that helps patients obtain better health outcomes by helping the right patient take the right dose at the right time. TAD, which can be programed to a specific regimen and schedule, incorporates biometric access and is fully tamper resistant. The medication dispenser also records adherence data, which is sent to a cloud database for analysis, reducing errors and simplifying data.
"We have been quietly raising capital for several months while refining our technology and service offerings," said Sam Zamarripa, president of Intent Solutions. "In that time, we've developed strategic relationships with prospective customers, both in the US and Europe, that will give us early adopters for our platform in the first quarter of 2017."
"Our field needs TAD yesterday," said Benjamin Levenson, Founder and Owner of globally recognized Origins Behavioral HealthCare, one of America's largest private and most innovative and authoritative multi-site systems of addiction and psychiatric care. Origins delivered the first fully self-contained, multi-staged research and outcome-based, continuums of care for America's sickest addicted patients.
"TAD is ground-breaking because it helps verify compliance with the patient medication, and, with other data, will extrapolate to help form the basis upon which we treat the world," added Levenson, who also serves as chairman of the Levenson Foundation and board member of FacingAddiction.Org. "Everyone has a story to tell about poor medication adherence and many times these stories are tragic. The TAD dispenser will give practitioners a better way to both promote adherence for better outcomes, while also reducing misuse and abuse of certain medications."
Dr. Van Crisco, chairman of Intent Solutions, along with a director of the company, Marty McLean, conceived of the TAD device when McLean was admitted to rehab after forming an accidental addiction to prescription painkillers.
"We had the conversation that there was no accountability between the pill bottle and patient's mouth," recalls Dr. Crisco. "We created TAD as one part of the solution with built in monitoring to help prevent accidental addition, but what we realized after exploring the concept was that there were even more potential uses for TAD."
Intent Solutions partnered with the Global Center for Medical Innovation (GCMI) for specialized engineering assistance to develop the TAD device.
"TAD was an incredibly exciting project to work on since it touches varied aspects of patient care," said Tiffany Wilson, CEO of GCMI. "With uses including clinical trials, medication management, and drug treatment, it's extremely gratifying to see the successful development of a device with such far reaching implications."
To fund its commercial entry and growth, Intent Solutions is in discussion with a number of strategic and institutional investors and for its next round of financing. These funds will expedite the growth of the company, support ongoing technology and software development, additional patent filings, and allow for sales and marketing support for the company's targeted markets.
About Intent Solutions
Headquartered in Atlanta, Georgia, Intent Solutions is a technology, software, and data service company focused on developing solutions, for clinical research, pain management and specialized pharmacy, designed to markedly improve the monitoring and management of medication adherence and provide real time behavioral data to more accurately measure compliance and efficacy.
It is estimated that up to one-half of all prescriptions are not taken which results in deaths of over 125,000 from adherence related causes and a staggering economic burden in health care of $300B, and a global revenue loss of $564B to pharmaceutical companies. The adherence problem may include taking more or less than prescribed, skipping doses, and also the abuse, misuse, and diversion of medications.