Because of its portability and user-friendliness, Caret is dubbed as the “medical iPod” by its maker, IntelliDot. Caret is a hand-held, wireless device that nurses can use to ensure patients get the right dose of the correct medication at the right time. Patients wear a bar-code wristband that is scanned with the device. Caret can also be used to monitor vital signs of patients or to ensure the proper amount of blood is drawn from the correct patient. This technology will help reduce medication errors, the ongoing challenge most of the hospitals are facing. IntelliDot expects to have its system in 60 hospitals in the Southeast within three years.

The company is backed on its scientific advisory board by several well-respected medical professionals. Among them is UC San Diego Medical Center CEO Richard Liekweg. Already IntelliDot has attracted $25 million in private equity financing since its inception in 2002, with the most recent being a $13.1 million round in April.
Via - Medlaunches