PharmRight Corporation

PharmRight Corporation, established in 2013 by founder Bill Park, operates in the healthcare technology sector with a focus on medication adherence. The company is positioned within the growing market for in-home medication management, which serves individuals with complex medication schedules, chronic conditions, and those who prefer to manage their health from home. This market is driven by an aging population, the increasing prevalence of chronic diseases, and a broader shift toward remote and home-based care.

The firm's core offering is Livi, an automated, cloud-connected home medication dispensing system. Livi is designed to hold a 90-day supply of up to 15 different medications, accommodating various pill shapes and sizes. The device automates the sorting and dispensing process, prompting users with audible and visual alerts when it's time to take their medication. It displays the medication name and instructions for each dose as it is dispensed. The system also manages as-needed (PRN) medications by limiting access to controlled substances.

A key aspect of PharmRight's business model is the integration of caregiver support and remote monitoring. Through a cloud-based application, caregivers can remotely schedule, monitor, and adjust medication dispensing. If a dose is missed, the system automatically sends alerts via text or email to designated caregivers. This connectivity is facilitated by a built-in cellular data connection, removing the need for a WiFi network. The platform maintains a comprehensive history of medication adherence, which can be shared with physicians to improve care coordination. The company generates revenue through a subscription model that combines hardware leasing or purchase with ongoing cellular connectivity fees.

Bill Park, the founder, has a background in developing technologies for medication dispensing, with several patents in the field related to system design and efficiency. PharmRight has secured funding from investors including SCRA, IncWell, and VentureSouth, completing multiple funding rounds to support product development and commercialization. The first production units of Livi were expected for delivery in April 2015. Keywords: medication adherence, automated pill dispenser, home healthcare, remote patient monitoring, caregiver support, medication management system, telehealth technology, cloud-connected health device, chronic disease management, in-home care, medication dispensing service, senior care technology, medication scheduling, smart home health, medication alerts, Livi at Home, patient monitoring, pharmaceutical technology, health tech, medication compliance