Smart Pharma Reminder and Monitoring System to improve Medication Adherence
· 4 Billion prescriptions filled annually in the US - non-adherence results in $300 Billion Cost to healthcare system
· Catalyst for outcome-based healthcare delivery
· Device protected by a granted US Patent + one pending
· Inexpensive device ($3 per unit in volume cost) is programmed by the prescribing pharmacist
· Device records patient use of medication for HIPPA compliant Web reporting allowing additional care giver interventions and sale of adherence data to insurers, Pharma companies
· Recipients of 3 NIH SBIR Grants to prove the technology & study the impact on patient adherence
· Competitive solutions are expensive and complex - requiring set up by the patient or care giver
According to published research, only about
50% of prescribed medication is taken as scheduled. This issue leads to problems with patient
health outcomes, and it adds almost $300B to the annual cost of healthcare when
diseases aren’t controlled effectively and unnecessary complications lead to
hospital and nursing home admissions.
Company's
solution to the problem of medication adherence is the @CAP which is unique
from any product on the market because it is automatically programmed,
wirelessly in the pharmacy as part of the regular work flow in filling a
prescription. Of course it provides the
visual and audible reminders to help the patients remember to take their medication,
but it doesn’t require any programming by the patient. Medicare part D’s
Medication Therapy Management (MTM) program allows for the cost of this product
to be covered at the pharmacy for patients that qualify. The @CAP is also priced
to be disposable or reused. Additionally, @cap and related products record and
report adherence in real time, giving interested parties patient-level data in
real-world settings to understand drug usage, and treatment outcomes, and
influence behavior change.
Company's product
benefits the entire value chain in delivering an improvement in outcome-based
healthcare. The patient increases
adherence thus reducing the likelihood of adverse conditions requiring
additional medical care. Their care givers can utilize the system's information
to provide additional interventions. The
pharmacies, pharmacy benefit managers and manufacturers all benefit from
increased consumption/sales. The insurance companies benefit from increased
adherence resulting in far fewer expensive medical issues, hospital admissions,
emergency room visits and other treatments. Finally, fewer preventable medical
procedures reduce the strain on the entire healthcare system.
Our
Client has engaged MidMarket Capital to locate a Strategic Buyer that could
capitalize on their industry leading solution, leverage their patents and
intellectual property and scale into a very large and receptive market space.
We
are exclusively representing this Company to your firm as part of an offering
to a select group of qualified investors. MMC specializes in mergers,
acquisitions, financing and divestitures of privately held middle market
businesses. No reproduction, in whole or part of this Confidential
Acquisition/Investment Profile may be made without prior written permission of
MMC.Dave Kauppi is a Merger and Acquisition Advisor and Managing Director of MidMarket Capital, providing business broker and investment banking services to owners in the sale of information technology companies. To view our lists of buyers and sellers click to visit our Web Site MidMarket Capital
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