Aging at home
Custom Health completed the purchase, making Spencer a fully owned subsidiary.
A dated step forward on the record · Company-reported
What the source says
“It paid US$1.5 million in cash plus stock consideration delivered through pre-funded warrants for its common shares.”
What it means
Automatic pill dispensers, from Hero Health, Spencer Health Solutions (Custom Health), Philips, is at stage 4 of 5 on our ladder: paying customers. Its stage is set by other milestones on its record; this one adds to the history. This line rests on the company's own announcement; no regulator, customer or independent report confirms it in our sources yet.
Human help: Our sources report it working without human help.
More on Automatic pill dispensers
- Hero says Medicare does not pay for a direct Hero subscription, though some patients can get it cheaper or free through a doctor's remote monitoring programme.
- Canadian company Custom Health agreed to buy Spencer Health Solutions, maker of the spencer dispenser, in a deal valued at about $23.5 million, mostly paid in shares.
- Hero said it had dispensed more than 50 million pills in every US state since 2018.
- Hero teamed up with the group Protect Native Elders to give 50 Navajo Nation members its service, paying the full subscription for three years.
- Philips said it would bring Spencer's pill dispenser to six European countries, starting in the Netherlands before the end of 2019.
- Hero went on sale to US consumers, backed by $12 million in Series A funding. It cost $299 up front plus a subscription, or $19.95 a month on a two-year plan.