Advanced Pharmacy Informatics Capabilities Enhance Performance Center Offering
April 19, 2017
MOUNTAIN VIEW, Calif.
Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management solutions and adherence tools to healthcare systems and pharmacies, today announced that it has completed the acquisition of InPharmics, a Mississippi-based technology and services company that provides advanced pharmacy informatics solutions to hospital pharmacies. The acquisition will expand the capabilities of Omnicell’s Performance Center™.
Health system pharmacies manage incredibly complicated clinical, distributive, and supply chain systems, and it is critical for pharmacy to understand and effectively manage the costs attributed to the medication use process while optimizing patient safety and regulatory compliance. InPharmics currently serves more than 150 hospitals with tools that analyze drug cost by patient diagnosis, thereby supporting pharmacy’s clinical activities while helping to optimize supply chain performance and comply with drug pedigree regulations.
“InPharmics goes beyond purchasing data to deliver analytics at the patient level. Our pharmacists use web-based tools to create and maintain data linkages across the health system’s multiple information platforms. As a result, pharmacy has visibility to its cost at every point in the medication use process,” said Bobby Parker, founder of InPharmics.
Omnicell® Performance Center combines enterprise software solutions with ongoing expert services to proactively monitor pharmacy operations and deliver actionable insights for improved operational efficiency, regulatory compliance, and patient outcomes.
“Pharmacy leaders face significant pressures to balance cost, quality, and compliance across an increasingly broad and more complex healthcare landscape,” said Nhat Ngo, executive vice president, Strategy and Business Development at Omnicell. “The InPharmics® solution adds clinical and compliance analytics to the Performance Center offering, positioning Omnicell as the partner of choice for health systems looking to drive improvement across all facets of medication management.”
Financial details on the acquisition are not being disclosed at this time. Omnicell expects the transaction will be immaterial and does not expect it to impact Omnicell’s previously communicated 2017 financial guidance.
InPharmics is the premier source for end-to-end medication use process cost analytics and Drug Supply Chain Security Act compliance systems specifically designed for acute care hospital pharmacies.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the acquisition of InPharmics and the benefits thereof and the expected impact of the acquisition, including on the financial results of Omnicell. As such, they are subject to the occurrence of many events outside Omnicell’s control and are subject to various risk factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statement. Risks include, without limitation, risks associated with business combination transactions, such as the risk that the businesses will not be integrated successfully, that such integration may be more difficult, time-consuming, or costly than expected or that the expected benefits of the acquisition will not occur; risks related to future opportunities and plans for the combined company, including uncertainty of the expected financial performance and results of the combined company following completion of the proposed acquisition; disruption from the proposed acquisition, making it more difficult to conduct business as usual or maintain relationships with customers, employees, or suppliers; and the possibility that if the combined company does not achieve the perceived benefits of the proposed acquisition as rapidly or to the extent anticipated by financial analysts or investors, the market price of Omnicell’s shares could decline. Other risks that contribute to the uncertain nature of the forward-looking statements include our ability to take advantage of the growth opportunities in medication management across the spectrum of healthcare settings, including by increasing patient access to medication adherence solutions through relationships with pharmacies, unfavorable general economic and market conditions, risks to growth and acceptance of our products and services, the potential of increasing competition, potential regulatory changes and the ability of the company to improve sales productivity to grow product bookings, to develop new products, and to acquire and successfully integrate companies. These and other risks and uncertainties are described more fully in Omnicell’s most recent filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date on which they were made. Omnicell undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.