Boston startup Medisafe, which makes a smartphone app that reminds people to take their medications, has raised $14.5 million in venture investment.
Medisafe, which also has offices in Israel, plans to open a London branch to serve European customers. The company, which said it has more than 3.5 million registered users, has now raised about $21.5 million in venture funding.
Medisafe is one of several high-tech startups hoping to carve out a big business in helping patients stay on top of their pill schedules. Boston-area company PillPack Inc., which has raised about $93.5 million in total investment, also offers a mobile reminder app to complement its custom medical packaging business.
Failing to stick with a prescribed medication routine can make patients sicker and push them into expensive medical care. Studies indicate that failing to take medications increases US health care costs by $300 billion or more annually.