Asthma and chronic obstructive pulmonary disease (COPD) currently cost payers and patients in the United States over $100 billion annually. By 2020, the Centers for Disease Controls and Prevention estimates that the cost of medical care for adults in the U.S. with COPD alone will increase 53 percent to more than $90 billion.
Madison, Wisconsin-based Propeller Health makes a small device that fastens to an inhaler and uses GPS to report when and where the inhaler was used. The information is reported to an app, and the data can be accessed by healthcare providers, who might gain insights on how to treat the patient’s condition.
“With a novel combination of sensors, mobile apps, analytics, and personalized feedback, the system encourages adherence to maintenance therapy and remotely monitors use of rescue medications to predict exacerbations and facilitate early intervention by care teams,” the company says in a statement.
The product is one of the few in its class to get FDA approval. It’s now concluding a 500-person randomized control trial at Dignity Health.
Propeller Health says today that it has raised $14.5 million in Series B financing, led by Safeguard Scientifics, with participation from The Social+Capital Partnership. Propeller Health says it will use the funding to accelerate product development, grow partnerships, and expand sales and marketing efforts.
Propeller Health, which was founded in 2010, has received $27 million in total venture funding.