Wireless-enabled blood glucose meter developer Telcare has raised $2.5 million of a targeted $4 million equity offering, according to a regulatory filing. Telcare plans to offer its blood glucose meter offering (pending FDA clearance) to its customers at the same pricepoint of "disconnected" devices that are already on the market.
According to the company: "[The] Telcare blood glucose meter requires no additional investment, merely a replacement of older technology for which insurers already pay. Moreover, the Telcare blood glucose meter significantly increases the work productivity of disease management personnel who no longer need to spend time calling patients to ask for glucose data and can now relay simple coaching directly on the Telcare blood glucose meter platform instead of using less efficient means of outbound communication."
Telcare has partnered with Sierra Wireless and Qualcomm to create its service and device, especially to embed the wireless connectivity. For more, check out the company's website, here.