Wellfount offers an innovative long-term care pharmacy solution (TED Rx) that enables on-demand, patient-specific medication dispensing at the point of care using remote dispensing units combined with high-touch on-site service. The system is designed to reduce drug waste and help eliminate human error. The company currently provides medications to over 3,000 residents across eight states and says it recently doubled its business and added a national footprint. Wellfount plans to continue expanding the portfolio of long-term care facilities where its solution is implemented and to enter new geographic markets. To support that growth, Wellfount secured external funding intended to strengthen its financial position and provide sufficient working capital for expansion. The company is headquartered in Indianapolis, IN. Wellfount Corporation is an institutional pharmacy that provides pharmaceutical products and services to local and national long-term care facilities. Founded in 2006 by CEO Paul Leamon, the company offers drug regimen reviews, packaging, distribution and charting solutions to patients in nursing homes. Its technologies are designed to cut the number of individual touches of a drug order from physician to patient, provide just-in-time dispense at the point of patient care, and integrate nurses' documentation into the patient record. Wellfount recently closed a $6M Series A funding round with Arboretum Ventures. The company intends to use the funds to continue to expand its services nationwide and roll out its pharmacy distribution and dispensing technologies.

Total raised

$21M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Mar 2014