Verinetics
Verinetics develops DispenSecur™, an FDA-listed Class I medical device combining a secure lockbox dispensing unit with a cloud-based provider interface, enabling U.S. Opioid Treatment Programs to provide controlled take-home methadone doses to patients with Opioid Use Disorder.
- Company typePrivate
- Founded2009
- HeadquartersDurham, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Verinetics does
Verinetics is a private medical device and digital health company developing DispenSecur™, a two-component system that combines a secure physical lockbox dispensing unit for patients with a cloud-based provider interface, designed to enable Opioid Treatment Programs (OTPs) to dispense controlled take-home methadone doses to patients with Opioid Use Disorder (OUD). The dispensing unit limits patient access to one dose at a time based on provider-configured schedules and is compatible with standard OTP procedures for liquid methadone, while the cloud interface provides remote configuration, real-time dispensing activity logs, inventory tracking, and GPS location monitoring. DispenSecur™ v1 is listed as a Class I Medical Device with the FDA for distribution in the United States, and the solution is positioned to align with SAMHSA's updated 42 CFR Part 8 regulations governing OUD treatment.
The company generates revenue through a combination of hardware sales of the lockbox device to OTPs and subscription-based access to the cloud-based monitoring portal, targeting U.S. clinic administrators and providers via enterprise field sales, supported by a 'Schedule Demo' call-to-action and industry event participation (e.g., Venture Connect). Its customer base is narrowly focused on the U.S. OTP segment, with stated intent to serve rural and marginalized populations facing transportation, cost, and stigma barriers to daily clinic visits. Verinetics has supplemented grant funding (notably a $1.5M NIDA Phase II SBIR contract in December 2021) with private exempt securities offerings in 2024 and 2025 to support commercialization following FDA listing in July 2024.
Verinetics holds a patented technology platform and operates from Durham, North Carolina, with leadership comprising President & CEO Dr. Jessica S. Beaver (pharma/medical device veteran), CFO Petra Weishaupt-Smith (technology-sector exits), CTO Jim McLean, and Founder & Chairman Dr. Tom Mercolino. The company has engaged in government-channel expansion through a collaboration with the U.S. Department of Veterans Affairs Greenhouse Initiative, and its public materials reference a broader addressable market beyond methadone to additional controlled substances.
Verinetics firmographics
Firmographics- Name
- Verinetics
- Legal name
- Verinetics, Inc.
- Website
- https://verinetics.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Verinetics develops DispenSecur™, an FDA-listed Class I medical device combining a secure lockbox dispensing unit with a cloud-based provider interface, enabling U.S. Opioid Treatment Programs to provide controlled take-home methadone doses to patients with Opioid Use Disorder.
- Ownership category
- akta.pro rank
Verinetics industry classification
Industry- Product category
- Controlled Substance Management Medical Devices
- NAICS
- Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)
- SIC
- Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Controlled Substance ePrescribing (EPCS), Diversion Monitoring & Compliance (HLACAKAJ)
- akta.pro secondary industries
- Connected Therapeutics & Smart Drug Delivery Monitoring (HLACAFAL), Medication-Assisted Treatment (MAT) & Opioid Treatment Programs (OTPs) (HLAFACAG), Pharmacovigilance, Medication Safety & Controlled Substance Diversion Monitoring (HLAFALAN)
Keywords
Where Verinetics is headquartered
LocationHeadquarters
- HQ city
- Durham
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Verinetics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain
Revenue model
- DispenSecur™ Medical Device Sales: Hardware sales of the DispenSecur™ secure lockbox dispensing unit to Opioid Treatment Programs (OTPs) and healthcare providers. The device is a Class I Medical Device listed with the FDA for distribution in the United States. Revenue is generated from device sales to clinics serving patients with Opioid Use Disorder.
- Cloud-Based Monitoring Services: Subscription-based access to the secure cloud-based interface for providers, enabling remote configuration, real-time monitoring, activity logging, inventory tracking, and GPS location monitoring. This provides recurring revenue through healthcare provider accounts accessing the provider portal.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Verinetics product offering
Product offeringCore offering
Verinetics develops and sells DispenSecur™, a patented controlled substance management platform for Opioid Treatment Programs (OTPs) that dispense take-home methadone for patients with Opioid Use Disorder (OUD). The product consists of two components: a secure physical lockbox dispensing unit that limits patient access to one dose at a time, and a cloud-based provider interface for remote configuration of dosing schedules, real-time activity monitoring, inventory tracking, and GPS location monitoring. DispenSecur™ v1 is listed as a Class I Medical Device with the FDA for distribution in the United States.
Product overview
Verinetics offers a single unified product called DispenSecur™, which is a specialized medical device platform designed to address the opioid crisis by enabling controlled substance management. The DispenSecur™ platform consists of two integrated components: a secure bottle dispensing unit (a physical lockbox device for patients) and a secure cloud-based interface (for healthcare providers to configure dosing schedules, monitor dispensing activity, and track inventory and GPS location). This two-component system enables Opioid Treatment Programs to provide take-home methadone doses while maintaining security and accountability.
Differentiator
Problem solved
Functional benefit
Brands
- DispenSecur™: A specialized lockbox solution for OTP providers offering take-home doses of methadone for individuals with Opioid Use Disorder. The system comprises a secure bottle dispensing unit for patients and a secure cloud-based interface for providers.
- DispenSecur™ Platform
Products and services
- DispenSecur™ A specialized two-component platform designed for Opioid Treatment Programs offering take-home methadone doses for adults with Opioid Use Disorder. It consists of a secure bottle dispensing unit for patients (a physical lockbox that limits access to one dose at a time, compatible with standard OTP procedures for liquid or solid dosage forms) and a secure cloud-based interface for providers (enabling remote configuration of dosing schedules, real-time dispensing activity monitoring, inventory tracking, and GPS location monitoring of the unit). DispenSecur™ v1 is a Class I Medical Device listed with the FDA and is designed to align with SAMHSA's updated 42 CFR Part 8 regulations.
Quantifiable outcome
- Supports take-home methadone dosing for up to two weeks, reducing clinic visit frequency
- +2 more outcomes
Companies that use Verinetics
Customer profileSegments2 records
Ideal customer profiles2 records
Verinetics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Verinetics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- U.S. Department of Veterans Affairs (VA) Greenhouse InitiativenotableVerinetics collaboration with the VA Greenhouse Initiative was featured in The Vantage (VA news). The partnership supports veterans benefiting from substance use disorder recovery programs through the initiative blossoming in spring 2022.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Verinetics competitors and assessment
Company assessmentEmerging players
- Pelago (formerly Quit Genius): Digital substance use disorder treatment platform offering clinician-led virtual care for alcohol, opioid, and tobacco use disorders. Comparable to Verinetics in targeting the SUD/OUD treatment gap with technology-enabled clinical models, competing for similar payer and employer relationships.
- Bicycle Health: Telehealth provider of Medication-Assisted Treatment for OUD, predominantly using buprenorphine rather than methadone. Comparable to Verinetics in addressing the OUD treatment gap through technology-enabled delivery models, though approaches take-home dosing via remote prescribing instead of a physical lockbox.
- Ophelia: Telehealth platform providing Medication-Assisted Treatment for opioid use disorder via remote clinician visits and home-delivered medication. Comparable to Verinetics in pursuing OUD treatment outside traditional OTP walls and competing for the same take-home dosing opportunity.
- Workit Health: Virtual substance use disorder treatment provider offering online MAT and counseling. Comparable to Verinetics as a tech-enabled OUD/SUD care delivery company, competing for the same patient population and reimbursement channels through a software-only model rather than a hardware device.
Direct peers
- MedMinder: Provides a smart pill dispenser with remote monitoring and alert capabilities for patients managing complex medication regimens. Compares to DispenSecur™ as a connected dispenser targeting adherence and accountability, though MedMinder focuses on polypharmacy/elder care rather than controlled substances.
- AdhereTech: Maker of a connected smart pill bottle that transmits adherence data to a cloud dashboard for clinical teams. Highly comparable to DispenSecur™ in combining a connected drug-delivery device with real-time provider monitoring, with comparable hardware-plus-subscription economics.
- Spencer Health Solutions: Provides a connected medication dispenser paired with a cloud monitoring platform to support medication adherence. Directly comparable to Verinetics' DispenSecur™ model of physical lockbox plus provider-facing cloud dashboard, though Spencer focuses on broader chronic-disease adherence rather than controlled substances.
- Hero: Smart in-home pill dispenser with an app for patients and caregivers, including adherence tracking and reminders. Comparable to DispenSecur™ in using a connected dispenser to manage at-home medication access and surface data to a remote party.
Broad incumbents
- Linus Health: Digital health company providing connected cognitive assessment tools. Included as a BROAD_INCUMBENT-style peer in the digital health/diagnostics category where larger established players overlap with Verinetics' connected-care positioning, though addressing a different therapeutic area.
- Catalent: Large contract drug delivery and pharmaceutical services company with capabilities in drug-delivery device development. Comparable to Verinetics at a broader scale as an established player operating in drug-delivery hardware adjacent to Verinetics' connected lockbox device work.
Market position
Strengths2 records
Weaknesses4 records
Competitive moat2 records
Key risks6 records
Key highlights7 records
Customer concentration
Verinetics social profiles
Digital presenceVerinetics compliance and trust
Trust signalCompliance1 record
Verinetics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Verinetics leadership team
Management profileNumber of profiles
Profiles4 records
Verinetics funding detail
Funding detailFunding overview
Funding rounds6 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Verinetics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Verinetics
What does Verinetics do?
Verinetics develops and sells DispenSecur™, a patented controlled substance management platform for Opioid Treatment Programs (OTPs) that dispense take-home methadone for patients with Opioid Use Disorder (OUD). The product consists of two components: a secure physical lockbox dispensing unit that limits patient access to one dose at a time, and a cloud-based provider interface for remote configuration of dosing schedules, real-time activity monitoring, inventory tracking, and GPS location monitoring. DispenSecur™ v1 is listed as a Class I Medical Device with the FDA for distribution in the United States.
Is Verinetics a public or private company?
Verinetics is a private company. It is classified as venture growth investor backed and is currently operating.
When was Verinetics founded?
Verinetics was founded in 2009. It employs 1 to 10 people.
Where is Verinetics based?
Verinetics is headquartered in Durham, United States, in the North America region.
How does Verinetics make money?
Two revenue lines are on record. DispenSecur™ Medical Device Sales are the primary driver. The others are cloud-Based Monitoring Services.
Who are Verinetics's main competitors?
Emerging players on record are Pelago (formerly Quit Genius), Bicycle Health, Ophelia and Workit Health. Direct peers are MedMinder, AdhereTech, Spencer Health Solutions and Hero. Broad incumbents are Linus Health and Catalent.
Does Verinetics have an API?
No public API is recorded for Verinetics.
What industry is Verinetics in?
Verinetics's product category is Controlled Substance Management Medical Devices. Its primary akta.pro industry code is HLACAKAJ, Controlled Substance ePrescribing (EPCS), Diversion Monitoring & Compliance, with a secondary code of HLACAFAL, Connected Therapeutics & Smart Drug Delivery Monitoring. Its NAICS code is 334510 and its SIC code is 3841.