Details

Last Funding Type

Series B

Last Funding Money Raised

$7.50M

Industries

Biotechnology,Health Care,Medical

Founded date

Jan 1, 2000

Number Of Employee

51 - 100

Operating Status

Active

MDG Medical developed the affordable and cost-effective ServeRx® system for hospitals and long-term-care settings to reduce medication errors, improve management of medications and enhance patient safety. ServeRx® produces rapid return on investment as health-care institutions may quickly recognize thousands or millions of dollars of cost savings.

Thousands of people die and tens of thousands more are injured each year due to preventable medication errors. These errors, including patient mixups, illegible prescriptions, confusion between different pharmaceuticals with similar names, and incorrect dosages, cause deep human suffering. For health-care institutions, preventable medication errors lengthen patients' hospital stays and create millions of dollars of additional operating expenses and liability costs.

Adverse drug events (ADEs) occur at a rate of 2.5% of hospital admissions in the U.S. and 10% in Europe. Each of these ADEs costs hospitals an average of nearly $5,000. Worldwide, legislators and the public at large are demanding that health-care institutions take affirmative steps to better manage their medication efforts and protect their patients.