HealthTech company ReMinD Technologies successfully placed 11% of its $750,000 non-brokered offering. Two investors subscribed to $85,000 worth of convertible promissory note. The offering is expected to remain open for a year. This is the first private placement initiated by the company. ReMinD is an alumnus of Health Wildcatters a southwestern healthcare accelerator program which is believed to be one of the subscribers. Concurrent to the offering, an undisclosed amount of common stock was issued to certain investors in exchange for advisory services.
ReMinD Technologies develops a medication dispenser integrated into a smartphone case coupled with a medication management and adherence tracking application (app). The device’s goal is to improve patient medication adherence by sending alerts and reminders but most importantly by engaging patients. The app leverages Emotions, Natural Instinct, Games, Autonomy, Goals, and Entertainment (ENGAGE) to foster self motivated medication and recovery management by patients. Electronic medical record and cloud integration are planned. There has been a number of offerings done by companies recently which develop technologies focusing on engaging patients to improve recovery. One of them is Health Recovery Solution which raised $300,000 and uses tablets instead of smartphones.
Nicole E. Pardo (Co-founder, President and CEO) leads the Humble TX based company which was registered in 2013. Revenues were not disclosed. The executive team includes David Amor (Co-founder and COO) and Christopher Durst (Co-founder and CTO).
Status: First close
Company: ReMinD Technologies
Industry: Other Technology
First Sale: 12/02/13