August 7, 2023

Digital pharmacist raises millions for MedicineWise


Digital pharmacist raises millions for MedicineWise

Every year, over 1,000 people die, and over 20,000 end up in the hospital due to incorrect medication use. Pharmi aims to eradicate this by digitally enhancing the legally required pharmaceutical care for pharmacists through MedicijnWijs. They have raised 2.2 million euros in growth financing to support this endeavor.

MedicijnWijs first guides patients using regular medication during the first two weeks of treatment. The app provides users with information through text, videos, and animations about the effects of a medication, potential side effects, and the specific condition it treats. The app also offers guidance on handling medication waste, whether it can be taken while traveling, the role of patient organizations, suitable lifestyles for the condition, and more.

Medication Adherence

The platform allows users to ask questions to their pharmacy, for example, through a chat function and to complete questionnaires. Pharmi also supports the rational use of medication for long-term treatment. Modules, for instance, help with medication adherence, tapering off medication where possible, and the rational use of medication according to guidelines.

Customers such as (online) pharmacies, chains, and pharmaceutical home care organizations can remotely guide patients through a care dashboard, which, through targeted data analysis, enables more personalized care.

Medication Waste

The core principle of MedicijnWijs, is to be digital where possible and human where necessary. Provider Pharmi addresses the fact that the healthcare system is becoming increasingly overwhelmed. As a result, errors occur, thousands of people are unnecessarily hospitalized, and significant waste exists.

Pharmi's goal is to empower patients through the platform, enabling them to take control as much as possible. This approach reduces errors and allows pharmacists to allocate more time to provide human-centered care when it is truly necessary. Thus, MedicijnWijs leads to better outcomes, satisfied patients, and less waste.

After its establishment in late 2019, business angels, family and friends, along with the Limburg Development Company LIOF, Rabobank, and the Limburg Technology Investment Fund (LTIF), provided the initial startup budget.

Growth Financing

The first official investment round has now been successfully concluded, raising 2.2 million euros in growth financing. Healthy Capital from Amsterdam led this round, focusing on investments in digital healthcare. Existing investor LIOF also participated, and INZET, or INvesting in Autonomy and Technology, an early-stage investment fund in healthcare innovations that improve the daily lives of individuals in need of care and contribute to the prevention of chronic health problems, also joined the round.