Wellfount nabs $6M in venture capital

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Wellfount Corp. has secured $6 million in funding from early-stage venture-capital firm Arboretum Ventures, the companies announced Tuesday. Arboretum is based in Ann Arbor, Mich.

Wellfount, founded in 2006, is an institutional pharmacy that serves long-term-care facilities. It provides “just-in-time” dispensing of medications and electronic medical records that it says saves staff time, and therefore costs, while also improving the quality of care.

The Series A funding will help Wellfount expand its services nationwide, according to Paul Leamon, president of Wellfount. The company currently serves 30 long-term- care facilities. It employs a staff of 58.

“This investment comes at a time of major growth for our company, rapid deployment of our technology solutions and aggressive national expansion.,” Leamon said in a prepared statement. “We look forward to working closely with Arboretum to take Wellfount to its next level of achievement.”

In 2008, Wellfount formed a joint venture with the Indiana Health Care Association, a nursing home trade group, to operate a member-owned pharmacy that could manage the myriad medications taken by nursing-home patients.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...