HMH Innovation Fund makes inaugural investment

Hackensack Meridian Health’s $25 million innovation program has invested $250,000 in Boston-based startup Pillo Health.Hackensack Meridian Health’s $25 million innovation program has invested $250,000 in Boston-based startup Pillo Health.

The company makes a voice-enabled home medical device that dispenses the proper dose of medication at the right time. It digitally coordinates prescription refills and connects individuals in their homes with physicians, caregivers and loved ones. It also connects patients or their family members with a physician via videoconference and provide an on-screen display of medical data as obtained from the patient’s electronic medical record.

“Innovation is in our DNA at Hackensack Meridian Health,’’ said Dr. Andrew Pecora, chief innovation officer at HMH. “This first project funded less than a year after launching our ideation center is a major achievement to improve health care.’’

Pillo Health and HMH will look to identify novel use cases for the technology within the hospital system and develop a pilot and commercialization road map to bring Pillo to market.

Pillo was chosen through HMH’s “Bear Den” program, which is modeled after the hit ABC show “Shark Tank.” The Bear Den is a panel of experts headed by Pecora and includes venture capitalists, a patent attorney, medical and financial experts, and HMH Co-CEOs Robert Garrett and John Lloyd, who evaluate new biotechnology companies for investment.