MIDAS Healthcare Solutions Extends Series A Round With New Investment by MCPC Healthcare Fund

MIDAS Healthcare Solutions, Inc., the leading developer of technology-driven solutions to promote the safe use, storage, return, and disposal of controlled substances and other dangerous medications in hospitals and other healthcare institutions, announced today a $2 million investment from MCPC Healthcare Investment, LLC, the newly formed investment arm of Cleveland-based MCPC. This investment makes MCPC the largest single external shareholder of MIDAS and will allow MIDAS to expand its product development efforts in preparation for the 2024 product rollout. This investment comes as the healthcare industry continues to be plagued by the diversion of opioids and other dangerous medications, enabling caregivers with substance use disorders to endanger themselves, their colleagues, and their patients. Recent data suggest that 1 in 100 healthcare workers diverts drugs in the clinical setting, although industry leaders acknowledge that the actual figure is likely substantially higher. “As a former hospital pharmacy assistant director, I saw firsthand how healthcare providers can easily divert medications for their own use, which can lead to significant harm to themselves and the patients they serve,” said serial entrepreneur Michael LaFauci, RPh, Founder and CEO at MIDAS. “This new investment will allow us to expedite the deployment of the MIDAS VIEW system to eliminate opportunities for diversion while providing a system of accountability. It’s time we protect our healt...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Bryan Scheetz Dr. Delos (Toby) Cosgrove Health IT Funding Health IT Fundings Health IT Investment Ira Grossman MCPC MCPC Healthcare Investment Michael Lafauci Midas MIDAS Healthcare Solutions Mike Source Type: blogs