May 03, 2012
Omnicell to Acquire a Leader in Medication Adherence Solutions for Long-Term Care and International Retail Markets in $156 Million Transaction
MOUNTAIN VIEW, Calif., – May 2, 2012 – Omnicell, Inc., (NASDAQ:OMCL) a leading provider of medication and supply management solutions to healthcare systems, today announced that it has signed an agreement to acquire MTS Medication Technologies, Inc., a worldwide provider of medication adherence packaging systems, for $156 million, subject to certain adjustments, in a cash transaction. The combination of Omnicell and MTS will create a comprehensive automated medication management offering across the acute and non-acute continuum of patient care.
The acquisition of MTS Medication Technologies will be discussed during the Omnicell First Quarter 2012 earnings results conference call, today at 2:00 p.m. PDT. The conference call can be monitored by dialing 1-800-696-5518 within the U.S. or 1-706-758-4883 for all other locations. The Conference ID # is 72808077. Internet users can access the conference call at http://ir.omnicell.com/events.cfm.
“The technology and services brought together by Omnicell’s acquisition of MTS Medication Technologies creates a company uniquely aligned with the evolving direction of the healthcare market,” said Randall Lipps, chairman, president and CEO of Omnicell. “MTS provides us with a new avenue into providing long-term care solutions, through automated medication adherence packaging equipment and consumables that help healthcare professionals, patients and caregivers manage adherence to prescribed medication regimens.”
Health systems and long-term care organizations see medication adherence as a key requirement for closing the medication loop and delivering better clinical outcomes and financial results. Non-adherence is a costly, critical problem creating up to $290 billion in extra costs annually1, resulting in approximately 125,000 deaths per year2. The Centers for Medicare & Medicaid Services (CMS) estimates that 11 percent of all hospital admissions are related to this issue3.
Healthcare organizations increasingly are responsible for the health of patients across the continuum of care as payers move away from episode-based reimbursement. Medication management solutions that provide consistent improvement in cost and quality will be attractive to the emerging Accountable Care Organizations and broader healthcare entities that are paid on clinical outcomes. The combination of Omnicell and MTS Medication Technologies will establish a company that can provide medication management across that broader continuum of care.
With a complementary portfolio of products and services, a broader international reach that includes retail pharmacies, and decades of experience in innovative medication and supply automation, the combined company created by this acquisition is expected to have an expanded presence in healthcare provider networks.
“I can say the whole MTS management team is looking forward to this opportunity,” said Bill Shields, president of MTS Medication Technologies. “With MTS’s dedication to helping the healthcare industry overcome the problem of medication non-adherence, joining forces with Omnicell gives us all an opportunity to reach new heights. We share the same vision and commitment to the highest customer service and we are both expanding our presence in medication management. Also, Omnicell’s acute care customer relationships and capital equipment experience opens up opportunities we’ve not had before at MTS.”
“We are thrilled to soon be able to welcome MTS, its employees and customers into the Omnicell family,” added Mr. Lipps. “Together, I believe our combined company will have an unmatched capability to provide medication management solutions across the full spectrum of the healthcare market. In addition, MTS has a significant presence outside the U.S., which nicely complements our own international expansion strategies. We expect this acquisition to lead to continued success as Omnicell strengthens its position as the partner of choice to improve patient safety, clinical outcomes and the economics of health care delivery.”
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