InformMed Inc.
Kathy Francis has been a registered nurse and healthcare consultant for more than 20 years. Her expertise in critical patient care and organizational design enabled her to recognize a highly unsage process within the medication delivery system. When patients need only a fraction of medicine from stock vials, mathematical calculations are required to determine the right dose. As a result of calculation error, patients are injured or killed every day.
In 2000, Kathy began development on a product concept to simplify the medication calculation process. She then teamed up with Diane Mathis to research a potential market for the new product. The Francis-Mathis team was able to confirm a growing market niche for medication error solutions and engaged a world-class design firm to work on prototype development.
Francis Mathis Inc. was officially incorporated in early 2001 and began doing business as InformMed later that year. By 2002, early working prototypes were developed, and provisional patent claims were filed for InformMed's flagship product- the pac2 (pharmaceutical algorithm computerized calculator).
InformMed's pac2 is the first product of its kind designed specifically to prevent medication miscalculations at the point of care. The pac2's patented process links computer-based algorithms with critical drug information into one easy-to-use handheld tool and is proven to help nurses prevent the most life-threatening type of errors.
Kathy and Diane were introduced to Bradley University in August 2004. Following their initial meeting, a strategic plan was developed to assist InformMed with business planning, presentation coaching, and introductions to potential partners, venture capital sources, and angel fund access.
Bradley provided important networking opportunities for InformMed. As a co-sponsor of NEXT Steps, Bradley arranged the opportunity for InformMed to present at the November 2004 forum. The forum serves as the premier introduction of entrepreneurs to the investor community, as well as to fellow entrepreneurs.
InformMed went on to secure a first round of angel financing, a successful technology start-up CEO, a formal advisory board, and research protocols.
In 2007 InformMed became the first tenant in the Peoria NEXT Innovation Center and is on the verge of selling its product to hospitals across the nation. The company has reached an agreement with OSF St. Francis in Peoria, IL. for a pilot program and other hospitals nationally.