Baltimore-based healthcare technology company WellDoc has secured $20 million in financing from Merck Global Health Innovation Fund and Windham Venture Partners for the marketing and rollout of BlueStar, the prescription version of the company's DiabetesManager, which runs on smartphones and tablets.
"This investment will help WellDoc launch and commercialize BlueStar, the world's first mobile prescription therapy for type 2 diabetes, on a nationwide basis," said Ryan Sysko, co-founder and CEO of WellDoc, in a written statement.
Launched in June, BlueStar is the first FDA-cleared mobile prescription therapy for type 2 diabetes with insurance reimbursement, which requires a prescription from a licensed healthcare provider and is "reimbursed and adjudicated" as a pharmacy benefit similar to other prescription products. Announcement