Accelmed Partners has announced that it led a $40 million investment in MedMinder Systems.

MedMinder, based in Needham Heights, Mass., is an end-to-end pharmacy, medication adherence and connected care solution designed for elderly and polypharmacy patients. Founded in 2007, the company’s pill dispenser delivers medications from its pharmacy to patients’ doors in preorganized daily trays.

Accelmed, based in Aventura, Fla., is a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market health technology companies. Founded in 2009, the firm targets equity investments of $10 million to $50 million per transaction in medical devices, diagnostics, digital health and technology-enabled healthcare services.

Joining Accelmed in the investment was Arkin Holdings, an Israel-based life sciences and healthcare investor, and existing MedMinder investors.