PipelineRx Completes Acquisition of Healthcare Connectivity Solutions Company Evolute Consolidated Holdings
Synergistic acquisition of Evolute provides improvements in quality and efficiency of clinical telepharmacy services
SAN FRANCISCO, Feb. 19, 2013 /PRNewswire/ -- PipelineRx, a leading medication management services company focused on clinical telepharmacy, announces the closing of its acquisition of Evolute Consolidated Holdings ("Evolute"), an IT integration services portfolio company of Aequitas Capital. Financial terms of the transaction are not being released.
Evolute, based in Denver, Colorado, develops and integrates healthcare connectivity solutions that help hospitals and their patient care providers more effectively communicate with each other and with external clinical services, health plan and product partners. Evolute's workflow and automation IT solutions reduce hospital costs by integrating and consolidating processes, reducing errors and making hospital organizations more effective in their day-to-day activities.
PipelineRx has quickly grown into a leading telepharmacy services company recognized for its clinical pharmacy expertise and high quality service. With meaningful use, PipelineRx's ability to interoperate with a hospital client's native CPOE capabilities is coming into sharper focus.
"Hospitals are facing an increasing complex set of dynamics centered upon enabling cost-effective interoperability inside their own organizations and also meeting the increasingly difficult mandates of achieving meaningful use in an emerging Accountable Care environment," states Bruce Keller, CEO of PipelineRx.
"To better serve our clients, we quickly realized that simply adding more clinical telepharmacists was only one way to achieve scale. Rather, the long-term investment is to improve the tools and processes to enable our clinical staff to become more efficient and allow them to focus on our core value proposition – improving patient care. Evolute's IT connectivity solutions and expertise in developing healthcare workflow solutions are perfectly aligned with PipelineRx's vision to capitalize on these market trends," comments Bruce Keller.
"We are enthusiastic about this strategic combination - it further enables Evolute to grow and expand as a direct result of the combined Company's synergies, existing customer relationships and continued technology leadership," states Robert Jenesik, CEO of Aequitas Capital. As part of the terms of the Evolute acquisition, Craig Froude, CEO of CarePayment and an Aequitas Capital Partner will be joining PipelineRx's board of directors.
The Evolute technology staff have become PipelineRx employees. Eric Carter, Evolute's CTO, will continue in his current role and also serve as PipelineRx's CTO and a key member of the combined Company's executive management leadership.
PipelineRx delivers a suite of remote medication management services focused on clinical telepharmacy to acute care hospitals across the US. With a team of experienced, hospital-trained, licensed clinical telepharmacists, PipelineRx provides clinical pharmacy coverage on a 24/7-basis enabling its hospital clients to extend their clinical pharmacy operations while improving patient care, medication safety and economic performance. Within the continuum of patient care, PipelineRx provides cost-effective clinical solutions for antibiotic stewardship, patient discharge planning, post-discharge tracking of CHF/COPD/CAD and patients using chronic therapeutic products such as Warfarin. PipelineRx is privately held and is headquartered in San Francisco, California. For further information about the company, please visit www.pipelinerx.com.
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