Finemark National Bank & Trust Providing Financing to PharmRight Corporation
Oct 31, 2016
October 28, 2016: PharmRight Corporation, a telehealth technology company based in Charleston, SC, announced today the closing of a revolving credit facility provided by the Charleston office of FineMark National Bank & Trust, headquartered in Fort Myers, FL. The facility is intended to provide working capital to support production and sales of Livi™, a fully-automated, cloud-connected home medication dispensing system designed and developed by PharmRight.
Bill Park, President and CEO of PharmRight said, “We are excited that our friends at FineMark stepped up to support an early-stage company like ours. This is another important part of our financial plan to scale production and support sales of subscriptions to the LiviTM system. We expect the FineMark relationship to grow significantly in the months and years to come.”
PharmRight Corporation was formed in 2013 to produce devices and offer services that maximize medication adherence and allow patients to age in place. The company has developed Livi™, an innovative, fully-automated home medication dispensing system. A new entrant to telehealth, the Livi™ platform is an advanced, extremely reliable and fully automated home medication dispenser managed by an intuitive cloud-based application making real time monitoring of medications quick and easy. Livi™ is designed to simulate the supervision of an on-site caregiver by prompting the user to take the right medication…at the right time…in the right quantity…with the right instructions. A cloud application monitors and captures all user interactions with the device. Family members and professional caregivers can be alerted via text message or e-mail if a user misses a dose or requires a re-fill. Comprehensive medication adherence reports are available via computer and mobile devices.
For more information, call (843) 277-8250 or visit www.pharmright.com.
About FineMark Bank
Founded in 2007, FineMark National Bank & Trust offers a comprehensive array of banking, trust and investment services to clients interested in establishing long term, high touch relationships. FineMark’s mission is founded on providing a culture of service to our clients and making a positive impact in the communities we serve.
For more information, call (877) 461-5901 or visit www.finemarkbank.com.