Omnicell and Pandora Data Systems will Partner to Provide Best-in-Class Medication Analytics to Monitor for Drug Diversion and Enhance Regulatory Compliance
MOUNTAIN VIEW, Calif., Oct. 5 /PRNewswire-FirstCall/ -- Omnicell, Inc., (Nasdaq: OMCL) a leading provider of medication management solutions to acute healthcare facilities, today announced the acquisition of Pandora Data Systems, a leading provider of analytical software for medication diversion detection and regulatory compliance. The two companies will combine their expertise in medication analytics to enhance diversion detection and clinical benchmarking that helps to ensure regulatory compliance.
"We believe the two companies' complementary, best-in-class products and technologies will be of great value to all of our customers," said Jim Felich, CEO of Pandora Data Systems. "Our partnership with the Omnicell team will allow us to continue our commitment to patient safety and help hospital systems meet the increasingly stringent requirements of the DEA and The Joint Commission."
The Pandora Data Systems solution will continue to operate as a stand-alone product, producing reports for CareFusion, McKesson, Cerner and other medication management systems, and providing regular updates and releases for its customer base.
Pandora will leverage the Omnicell development expertise to provide best-in-class analytics for drug diversion detection, compliance reporting and long term data storage. Its customers will also benefit from Omnicell's infrastructure for expanded service and support.
"I am thrilled to welcome the Pandora employees and customers to the Omnicell family, as together, we commit to the universal improvement of healthcare," said Randall Lipps, CEO of Omnicell. "Pandora's analytic expertise will allow us to further enhance hospital medication management, providing valuable information to pharmacy and nursing management while reducing the frequency of drug diversions. Most importantly, the companies share a common vision to improve healthcare for everyone, and we believe our combined technology will be able to increase hospital patient safety and augment their ability to meet regulatory compliance."
About Pandora Data Systems
Pandora Data Systems is a leader in innovation for analytics. Since 1989, Pandora Data Systems has been committed to providing the Healthcare industry with cutting edge technology, actionable data analysis, and first class customer service. Comprised of a unique and comprehensive blend of analytic expertise, leading technology, friendly user interface, and outstanding customer support, Pandora Data Systems accelerates its customer's commitment to excellence. Currently operating in over 800 hospitals nationwide, Pandora Data Systems continues to work collaboratively with its customers and other experts in the field to deliver solutions to the challenges faced within the Healthcare industry.
Omnicell, Inc. (NASDAQ: OMCL) is a leading provider of systems to enable healthcare facilities to increase operational efficiency, enhance patient safety and allow clinicians to spend more time with their patients.
Founded in 1992, Omnicell's medication-use solutions include complete automation systems for the central pharmacy, anesthesia workstations for the operating room, dispensing cabinet systems for nursing units, and safe, secure medication transportation and verification systems to the patient bedside. From a medication's arrival at the receiving dock to its dosing to the patient, Omnicell systems store it, package it, bar code it, order it, issue it, and provide information and controls on its use and reorder.
Omnicell supply product lines provide a healthcare institution with comprehensive supply chain solutions that result in fast, effective control of costs, capture of charges for payer reimbursement, and timely reorder of supplies. Products range from high-security closed-cabinet systems and software to open-shelf and combination solutions in the nursing unit, cath lab and operating room.
For more information, visit www.omnicell.com.
Any forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include statements relating to expected benefits from Omnicell's acquisition of Pandora Data Systems and expected future product developments. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation, potential delays or difficulties in realizing benefits expected from the acquisition or in developing future product offerings and other risks detailed in Omnicell's Securities and Exchange Commission (SEC) filings.
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SOURCE Omnicell, Inc.