Kit Check


Website: kitcheck
Twitter: @KitCheck
Facebook:  Kit Check
Founder: Kevin MacDonald and Tim Kress-Spatz

Overview

Kit Check is a digital health company that manufactures software used by hospitals to track and streamline the process of refilling emergency medical kits. Kit Check uses Radio Frequency Identification (RFID), or radio waves, to scan the kits, tag contents, and notify users when medications need to be restocked. In the US, an estimated 20% of all hospital kits contain expired medications, and $2 billion dollars are spent each year to maintain and monitor kits. [1] Kit Check reduces the time needed to track medical kit inventory from 20-30 minutes to approximately five seconds while boosting quality and efficiency. Kit Check's software can be installed in hospital pharmacies in less than an hour, and users can be trained in close to 15 minutes. [2] Findings from a University of Maryland Medical Center study found that the rate of error in pharmacy kit inventory and restocking manually was about 250 errors per 5,000 kits, whereas, kits processed using Kit Check were found to have a rate of error close to zero. [3] The company's second product, Anesthesia Check, is similar to Kit Check but is used specifically for automated tracking, validation, and recording of anesthesia medications. [4]

History

Kit Check was launched in 2012 in Washington, DC by Chief Executive Officer Kevin MacDonald and Chief Product Officer Tim Kress-Spatz. MacDonald initially learned about the tedious and inefficient process hospitals use to manually monitor medical kit inventory over dinner with a friend who worked at a hospital pharmacy. MacDonald and Kress-Spatz, former classmates from Villanova University and experienced developers, then partnered together to develop a software to automate the process. [5] In the eighteen months between the company's first two funding rounds, Kit Check's number of customers grew from 43 pharmacy customers to 144 customers. Kit Check launched Anesthesia Check in 2014. Kit Check now serves more than 100 hospitals, with 5,000+ users and over $3.6 million medications tracked. [6] In 2015 the company expanded services into Canada. [7]

Funding Rounds

Funding RoundDatePaper AmountInvestors
Series BJanuary 12, 2015$12 MillionKaiser Permanente Ventures, Rex Health Ventures, LionBird, Easton Capital, Sands Capital Ventures, New Leaf Venture Partners
Series AJune 28, 2013$10.4 MillionRock Health, Sands Capital Ventures, New Leaf Venture Partners, Easton Capital
SeedOctober 1, 2012$100KMayo Clinic Rochester, Aberdare Ventures, Kleiner Perkins Caufield and Byers, Mohr Davidow Ventures, Rock Health