Mediware Announces Agreement to Acquire Chemotherapy Management Software
March 15 2012 - 12:00PM
Mediware® Information Systems, Inc. (Nasdaq:MEDW) today announced
that it has signed an agreement with Cobbler ICT Services BV to
acquire the assets associated with the Cyto Management System
(CMS), a comprehensive chemotherapy management software solution
currently deployed in Holland and Belgium. The CMS software was
designed specifically to track patients, manage highly
individualized medication-based treatment plans, help control costs
and report outcomes associated with cancer therapies performed in
hospitals and oncology centers. The software utilizes a
multilingual language platform that makes the product easy to
configure for new international markets. The transaction is
expected to cost Mediware €1.7 million ($2.2 million USD) and close
in mid-April.
Mediware will continue marketing the software through existing
European distribution agreements under Mediware's international
brand and open a regional office in Holland to manage European
sales and services. The software will also be made available
immediately to the UK and Irish markets to capitalize on the
dominant position of the company's UK-based JAC medication
management product suite, which is used by more than 50 percent of
UK hospitals. Additional geographic expansion will occur as
opportunities arise.
Commenting on the pending acquisition, Mediware's president and
chief executive officer, Thomas Mann said: "Oncology is one of the
fastest growing areas of healthcare. There are more than 11 million
new cancer cases reported every year, a number that could increase
to 16 million by 2020. As a result, there have been huge
investments in new treatment technologies and pharmaceuticals.
Cancer drugs alone have seen a four-fold increase in sales over 10
years to more than $19 billion in 2008. Yet, despite this intense
global investment, care providers are still underserved by software
solutions that do not effectively manage the data, process and
reporting requirements of these complex personalized treatment
plans.
"With the cost of care increasing dramatically, we believe there
is a critical need for a system that provides precise therapy
management for the patient, while also monitoring and reporting
those treatments, their outcomes and costs. The acquisition of the
CMS software and intellectual property is strategic, provides a
good value for Mediware and launches us in a new area of care. With
our experience in medication management, FDA regulations and
complex information management, I believe Mediware has the
experience to become a leader in this pivotal and rapidly growing
area of healthcare technology."
Seen as an area of revenue growth that is both rapid and long
term, Mediware has been evaluating oncology treatment management
solutions in the US and Europe for more than 18 months. Based on
this market analysis, the CMS software solution provided the
company the functionality and technology platform to quickly expand
in multiple geographic markets.
"Driving the high growth potential of this global market is the
recognition that highly personalized cancer care is increasingly
important to patient survival rates," continued Mr. Mann. "But to
be optimally effective these precision treatment regimens require
robust and highly specialized information systems capable of
coordinating therapies and tracking outcomes while managing
costs.
"The CMS software is well positioned to support these goals. It
has rich clinical features and powerful integration capabilities
that enable its use with our existing products as well as the
hospital's core electronic health record. It also has a robust
multi-lingual platform that provides the solution with
multi-national appeal. This should make it an efficient contributor
to our continued international growth."
The CMS acquisition provides Mediware the opportunity to
immediately enhance its solution offerings in JAC's current markets
and broaden the company's global structure. With the addition of
CMS, JAC enhances its position as the leading medication management
technology vendor in the UK with proven software solutions for
pharmacy management, e-prescribing, medication administration and
chemotherapy management.
"Customers in the UK and Ireland are looking increasingly for
e-prescribing and medication management suppliers to offer a
broader more complete solution. The addition of CMS to our UK
portfolio positions JAC uniquely in the market place to deliver a
comprehensive medication management solution," said Robert
Tysall-Blay, managing director of Mediware's international
operations and chief executive of JAC Computer Services Ltd, in the
UK.
Mediware will be demonstrating the CMS solution for European
prospects during the European Association of Hospital Pharmacists
(EAHP) conference and exposition, which will be held in Milan March
21-23.
About Mediware
Mediware delivers interoperable best-of-breed software systems
that improve efficiencies and address safety concerns, enabling
healthcare organizations to improve care processes while decreasing
costs. Core Mediware solutions include blood management
technologies for hospitals and blood centers; medication management
solutions for hospitals, behavioral health facilities, infusion and
specialty pharmacy providers; and business intelligence-based
performance management solutions for clinical, regulatory and
financial aspects of the broader healthcare market. For more
information about Mediware products and services, visit our website
at www.mediware.com.
The Mediware Information Systems, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5249
About JAC
JAC is the UK's leading medicine management systems specialist,
with the largest installed base of Electronic Prescribing and
Medicines Administration systems in UK hospitals. With over 20
years experience within medicines management, JAC provides pharmacy
stock control, e-prescribing and medicines administration as a
single integrated solution along with associated services and
third-party interfaces. JAC's systems are used in more than half of
all NHS trusts in England as well as sites in Scotland, Wales,
Northern Ireland, Ireland and South Africa.
About the Cyto Management System The CMS
software is a comprehensive 'closed loop' solution for managing
chemotherapy treatments that is focused on reducing errors,
streamlining patient management and optimizing efficiency through
the care treatment process. Consisting of five main components, CMS
manages the prescription of chemotherapy for the physician, the
planning of the chemotherapy for the patient, the planning for the
preparation of the chemo therapy, the preparation of cytotoxic
drugs and all the other sterile preparations. CMS is designed to be
highly interoperable and includes multi-lingual capabilities to
allow the software to be easily configured for international
distribution.
Certain statements in this press release may constitute
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as the same may be
amended from time to time (the "Act") and are intended to be
covered by the safe harbor created thereby. Such forward-looking
statements are not necessarily based on historical facts and
involve known and unknown risks, uncertainties and other factors
which may cause the actual results of the Company to be materially
different from any future results expressed or implied by such
forward looking statements. These risk and uncertainties include
but are not limited to those disclosed in the Company's Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. The Company does not intend to, and undertakes
no obligation to, update forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or
changes in future operating results, financial condition or
business over time. The Company regularly posts important
information to the investor relations section of its website.
CONTACT: John Van Blaricum
913-307-1017
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