Radiance secures $6m in funding

Radianse Inc., a Lawrence company that makes high-tech location devices for hospital equipment, just closed a $6 million round of funding.

Radianse uses radio-frequency identification, or RFID, technology to make sensors and readers that can be used to identify and track hospital equipment and even patients and staff as they move throughout a facility. The latest funding was led by National Healthcare Services Inc., a Long Beach, Calif., firm that invests in privately-held medical devices and healthcare industry companies. It brings the total raised by Radianse thus far to $17 million.

The company plans to use the new cash to increase market share for its main product, called an indoor positioning solution, and to develop a new way to use the technology to more accurately track equipment and patients.
(By Keith Reed, Globe staff)