Omnicell to Acquire Hub and Spoke Innovations Limited
Strategic acquisition of Great Britain distributor of leading robotics automated prescription collection solution supports the Autonomous Pharmacy vision and expands Omnicell’s Retail Pharmacy Portfolio in the UK
17th January, 2022 - Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, today announced Omnicell Limited, a wholly owned subsidiary of Omnicell, Inc. ("Omnicell") has entered into a definitive agreement with the shareholders of Hub and Spoke Innovations Limited - the distributor of the Pharmaself24 prescription collection kiosk in Great Britain- to acquire Hub and Spoke Innovations. The acquisition will complement Omnicell’s total solution technology portfolio for retail pharmacy in the UK to help pharmacies improve workflows, offer patients 24/7 access to their medications and provide enhanced patient care.
From central fill to automated collection points, community pharmacies across Great Britain are increasingly looking at how automation can make their businesses more efficient while also freeing their staff to focus on delivering more pharmaceutical care and services to their patients. The Hub and Spoke Innovations acquisition is expected to enable Omnicell to support this goal by offering a wider array of digital technologies designed to streamline retail pharmacy operations, which should allow pharmacists to spend more quality-time with patients and provide value-added, revenue-generating healthcare services, such as vaccinations.
“We are thrilled to be joining together with Hub and Spoke Innovations who share our mission to transform both the practice and business of retail pharmacy,” said Sara Dalmasso, General Manager and Vice president of Omnicell International. “We believe the combination of the Pharmaself24 market leading prescription collection system and Omnicell’s global experience and expertise is another step toward delivering solutions that support the long-term vision and potential opportunity of the fully autonomous pharmacy.”
“Our business has grown rapidly over the past three years – we have over 100 Pharmaself24 installations in community pharmacies, dispensing practices and hospitals across Great Britain – and so now is the perfect time for Hub and Spoke Innovations to become part of the Omnicell group,” said Hub and Spoke Innovations’ director Gary Paragpuri, who will join Omnicell as part of the acquisition together with fellow director Ryszard Cygan.
“Both Ryszard and I feel that being part of Omnicell, with the added expertise and resource this brings, means we can offer an even better package of support and service to our customers – both existing and new. And we are looking forward to working with the Omnicell team.”
Differentiated Portfolio of Solutions: The Hub and Spoke Innovations acquisition is expected to provide differentiated solutions that complement Omnicell’s widely deployed retail pharmacy solutions in the UK, including a pack-pick dispensing robot, automated MDS filling machine, eMAR solution, as well as medication adherence consumables, all of which are designed to help improve medication adherence and health outcomes, while driving pharmacy business results.
Automated prescription collection service benefits: Patients and carers now expect to be able to collect prescriptions from a pharmacy at a time that is convenient to them. The Pharmaself24 solution gives them that option. Not only does it allow busy repeat prescription patients to pick up their medication at a time that best suits them, but it also allows pharmacy staff to spend more time with patients that may need more complex support or to develop new revenue-generating healthcare services. The Pharmaself24 solution automates the handing out of dispensed medicines, that should free pharmacy teams to spend more of their valuable time providing pharmaceutical care to their patients.
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the outcome of the acquisition, the expected benefits of the acquisition of the Hub and Spoke Innovations business, the impact of the acquisition on Omnicell’s products and services, and the capabilities of the products and services of the Hub and Spoke Innovations business. Without limiting the foregoing, statements including the words “expect,” “intend,” “will,” “plan,” “anticipate,” “believe,” “forecast,” “guidance,” “outlook,” “goals,” “target,” “estimate,” and similar expressions are intended to identify forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: that the transaction may yield additional value for stockholders; difficulties encountered or delays in integrating the acquired business, technologies, personnel and operations; costs related to the acquisition; market acceptance of the acquisition and resulting products and services; Omnicell’s inability to realize value from its significant investments in its business, including product and service innovations; the effect of the acquisition on Omnicell’s business relationships, operating results and business generally; disruption of current plans and operations, including potential disruptions with respect to our employees, vendors, clients and customers, as well as management diversion or potential litigation; and general market, political, economic and business conditions, including the ongoing COVID-19 pandemic (including new variants of the virus), and other industry or economic conditions outside of Omnicell’s control.
Additional information on potential factors that could affect Omnicell’s financial results is included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, each of which is on file with the U.S. Securities and Exchange Commission (“SEC”), and Omnicell’s other reports filed with or furnished to the SEC, as available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others 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 of this press release. Omnicell does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Bird & Bird LLP served as legal counsel to Omnicell. 360 Business Law served as legal counsel to the shareholders of Hub and Spoke Innovations.
For additional press information please contact Jo Gulliver at Trinity PR on tel: 02071124905 or email email@example.com
Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 7,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 60,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.co.uk.
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About Hub and Spoke Innovations
Hub and Spoke Innovations (a privately owned company) is the official distributor for the Pharmaself24 medicine collection point in Great Britain. The specialist consultancy is run by pharmacy experts and aims to help pharmacists and dispensing GPs grow their businesses and provide a better service for their patients through technology. Hub and Spoke Innovations is owned and run by Ryszard Cygan and Gary Paragpuri who met as pharmacy undergraduates and have since gone on to enjoy successful careers in the pharmacy sector. Hub and Spoke Innovations work closely with the Pharmaself24 manufacturer Videosystem and its internal team of developers, drawing on their years of experience to deliver bespoke products that meet the precise specification of every customer. www.pharmaself24.co.uk