WellDoc raises $20 million from Merck, others

[grow_thumb image=”http://telecareaware.com/wp-content/uploads/2014/01/BlueStar-promo-image-WD.jpg” thumb_width=”150″ /]WellDoc, developer of a prescribable Type 2 diabetes management smartphone app (BlueStar), announced today a $20 million Series A round from Merck Global Health Innovation Fund and Windham Venture Partners. The interest by Merck is understandable in several ways. Pharma companies are moving beyond the meds into other management models as blockbuster drugs become scarce (those cuts in R&D do hurt down the line), operating costs higher and profitable drugs go off patent. Because it is prescribable, BlueStar is reimbursable by US insurers (not disclosed by WellDoc); it is currently offered as a pharmacy benefit by Ford Motor and major drugstore chain RiteAid. In addition to these, WellDoc has developed strong partnerships (AT&T, Alere) since their founding in 2005 (see below). BlueStar also can be considered a strong fit for a Merck subsidiary, Vree Health.  (more…)