Telcare raises $4.46 million
Telcare, a Bethesda, Md. based company, focused on developing technology to manage chronic diseases, has raised $4.46 million of a targeted $5 million in a mixed securities offering, according to an amended SEC filing. The financing sources were not named in the filing.
Telcare uses wireless technology to provide communications between chronically ill patients and their physicians. Jonathan Javitt, MD, vice chairman and CEO, and John Dwyer, chairman, founded the company in 2008. Javitt, Dwyer and David Bjork, president, were named in the filing.
Telcare executives say the company aims to wirelessly bridge the last mile between patients and physicians for the care of chronic illness using machine-2-machine cellular technology. TelCare's first product, still pending FDA clearance, is the TelCheck glucose meter, which automatically relays home glucose testing data to the physician or care manager and displays immediate clinical feedback and coaching on the screen of the meter.
Besides Telcare, Javitt founded health information technology companies that have become part of Siemens, United Health Group, Aetna, Health Care Computer Associates, Clinitek, Certitude and eMEDx. He also has served as a senior medical advisor to the Clinton and George W. Bush administrations.
Dwyer has held "C" level positions in six emerging growth companies in the healthcare and financial services industries, including eMEDx and Vetcentric. He co-founded the first political action committee focused on a particular disease – the Alzheimer's Action PAC – and was a member of the Obama Administration's Health and Human Services transition team. He has played an active role in the HHS, FDA, and Commerce transition and staffing plans of the Obama Administration.
Bjork is managing director of Commonwealth Health and previously served as senior vice president for PolyMedica Corp. (d.b.a. Liberty Medical), a provider of glucose meters and related testing supplies.