Diabetes and insulin management software company Glytec announced it secured a $36 million growth investment led by Savitr Capital and Hayfin Capital Management.
WHAT IT DOES
Glytec's Glucommander system analyzes patient data in real time to provide insulin dosing recommendations as well as historical, prospective and patient-specific data. The offering integrates with electronic medical records.
The company will use the funds to develop new technologies and respond to the Centers for Medicare and Medicaid Services (CMS) quality measures, which aim to hold health systems accountable for inpatient glycemic control.
"This investment is a pivotal moment for Glytec, validating our vision of a future where deep data-driven insights empower clinicians to deliver highly individualized and proactive care for diabetes and metabolic conditions," Patrick Cua, CEO of Glytec, said in a statement.
"Savitr Capital and Hayfin Capital share our belief in the transformative power of technology to improve patient outcomes and alleviate the burden of complex chronic diseases. This capital will enable us to expand our research and development initiatives, scale our platform and continue to attract top-tier talent as we revolutionize metabolic healthcare."
MARKET SNAPSHOT
In May, Glytec collaborated with MUSC Health, the clinical enterprise of the Medical University of South Carolina. MUSC selected Glytec to integrate with the health system’s existing EMR system, Epic.
In 2024, Glytec partnered with pharmaceutical firm Roche to enable the use of Glytec's software in conjunction with Roche's point-of-care smart-device hospital blood glucose system, cobas pulse, in the U.S. and global markets.
Roche's cobas pulse's strip architecture provides lab-like results and minimizes the need to repeat tests. The system is used on all patient populations, including neonates and intensive care patients.
The joint venture aims to elevate patient safety, strengthen the cost-effectiveness of care and improve outcomes.
In 2021, Glytec received $21 million in funding from Silicon Valley Bank, Savitr Capital and other private investors. The company collected $9 million in debt financing from SVB and $12 million in equity investments led by Savitr positions.
