Startups to Watch 2024: St. Louis firm spins tech out of Mayo Clinic to better track hospital drug use

Dilip Vishwanat | SLBJ

By Nathan Rubbelke – St. Louis Inno editor

February 01, 2024, 01:40pm CST Updated 02/01/2024 3:15 pm

ANIGENT

Headquarters: Chesterfield

CEO: V.C. Jun Fabella Jr.

What it does: Anigent has developed software designed to help health care facilities and organizations mitigate drug diversion, which involves health care workers taking drugs from medical facilities for their own use. Anigent says its technology uses artificial intelligence and machine learning to analyze data to detect and manage instances of drug diversion.

The latest: Anigent launched in 2019, with the company and its software being created from a medication administration and analysis program that had been developed at the Mayo Clinic, the renowned health care provider based in Rochester, Minnesota. Anigent, since its launch, has focused on refining its software, which has been used in 70-plus locations of the Mayo Clinic and at other health care facilities. Mayo Clinic is a minority equity owner in Anigent and has exclusively licensed its technology to the Chesterfield firm.

Why you should watch it: Anigent believes its software can help hospitals better detect and manage cases of drug diversion while also helping improve medical care. Drug diversion continues to be a challenge of health care organizations, with a 2022 report finding 8% of medication transactions between patients and providers had discrepancies in the amount of medication that was supposed to be used. Anigent believes its use of artificial intelligence, alongside human intelligence, provides an ideal combination for health care organizations to be able to understand and monitor trends that could be signs of drug diversion among staff.

What’s next: Anigent in 2024 plans to put a focus on commercializing its software, increasing its use at health care organizations and facilities. It plans to add financing to add its growth, seeking to raise between $3 million to $5 million from investors.

More about Anigent

Year founded: 2019

Founders: V.C. Jun Fabella Jr., CEO; Charles D’Amato, inventor; Russell Odegard, chief operating officer, and Michael Pruett, chief pharmacy officer

Employees: 10-plus

Capital raised: The company declined to disclose

Investors: Anigent said its ownership includes its founders and “sweat equity” investors.

To Read this whole article in the Business Journal, Clich Here >>>