NexJ adds point-of-care education to Connected Wellness, an innovative platform for patient activation
TORONTO, April 24, 2014 /PRNewswire/ - NexJ Systems Inc. (TSX: NXJ), a provider of cloud-based software delivering enterprise solutions to the financial services, insurance, and healthcare industries, today announced the acquisition of Liberate Ideas Inc., developer of Liberate Health, a revolutionary point-of-care patient education solution.
Liberate Health is used by healthcare professionals (HCPs) to effectively and efficiently educate patients at the point-of-care. HCPs choose from an expanding portfolio of infographic teaching presentations designed to make condition and/or treatment conversations highly engaging, memorable, and actionable. Content is current, developed in collaboration with key opinion leaders, and peer reviewed.
During an office visit, the HCP uses a tablet to deliver the presentation, captures audio of the discussion if desired, and may add notes, images, photos, and/or test results. The outcome is a personalized Patient Visit Record (PVR), delivered as a video and made available to the patient on NexJ Connected Wellness. The PVR is shareable by the patient with his or her circle of care, including the patient's other healthcare professionals, family, friends, and advocates. The voiceover capture makes it ideal for multilingual and low literacy patient cohorts across global markets.
Liberate adds point-of-care patient education to the NexJ Connected Wellness platform which already includes patient-friendly shared care plans and personal health coaching. Together these applications will deliver a medication adherence solution that improves clinical outcomes and directly addresses the pharmaceutical industry's strategic initiatives of "beyond the pill" and patient-centricity. The loss of revenue globally due to medication non-adherence is estimated to be in excess of $500 billion annually.
"Liberate re-invents the point-of-care experience by providing healthcare professionals with well-crafted, flexible teaching tools that increase the patient's understanding and retention of the critical information they need to start on their self-management journey," said Dr. John Reeves, Liberate Founder. "NexJ Connected Wellness is the logical next step because it adds to the post-visit education we provide by giving patients the support they need to recognize their new normal, engage in their treatment and get on with their lives."
"The acquisition of Liberate adds to our vision for NexJ Connected Wellness," said William M. Tatham, CEO of NexJ Systems. "We believe that patient activation, helping people understand their health conditions and engaging them in managing their health and wellness, is fundamental to the on-going transformation of the healthcare system based on the principles of people-centered health."
In 2013, Liberate established a unique collaboration with Rogers Healthcare Group in Canada, a leading medical publisher, whereby Rogers provides Liberate with sales, marketing and communications support. Together, Rogers and Liberate offer a complete point-of-care "closed loop" relationship between HCPs, patients and pharmaceutical industry sponsors.
"Rogers is committed to assisting our network of more than 100,000 healthcare professionals manage their patient engagement, and the Liberate app is the perfect example of that," said Janet Smith, Rogers Healthcare Group Executive Publisher. "We are excited to be driving awareness and adoption of Liberate as we believe educating patients about their condition and informing them about their medication is fundamental to enable them to manage their wellness."
Designed to support multiple pharmaceutical industry sponsors, Liberate aggregates the teaching assets and adherence programs of all sponsors to create a one-stop resource for HCPs and their patients.
"We are working with Liberate because its platform will make a difference regarding non-adherence. We make life-changing medicines, but they can only work if patients take them. To do that, they need to understand what their diagnosis is, what they need to do to be as healthy as possible, and what the consequences are if they don't. Liberate addresses these issues head-on," said Veronica Piacek, Director Digital Marketing, Pfizer Canada.
Liberate is free for HCPs and is available for download from iTunes. For more information, please view a video showing how a doctor might use Liberate with patients at the point-of-care.
NexJ has agreed to pay up to $2 million, in a combination of cash and common shares which includes certain earn-out provisions. On closing, NexJ paid cash of $0.5 million and issued 237,192 common shares at a price of $2.11 per common share, which represented the 20 trading day average closing price of NexJ's common shares on the TSX for the period ending on April 21, 2014.
About NexJ Systems Inc.
NexJ is a provider of cloud-based software, delivering enterprise solutions for the financial services, insurance and healthcare industries. Our next-generation, people-centered software combines industry-specific functionality with information from multiple applications and data stores to provide comprehensive knowledge of the individual.
Based in Toronto, NexJ has clients throughout North America and in Europe. For more information about NexJ, visit www.nexj.com, e-mail [email protected], or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.
About Liberate Ideas Inc.
Founded in 2012 by Canadian Dr. John Reeves, Liberate is a game-changing patient engagement and adherence platform. It was designed to help healthcare professionals address poor health literacy and non-adherence by improving their point-of-care teaching skills and arming them with rich digital resources to set patients up for effective self-management. In September 2013, Liberate announced its partnership with Rogers Healthcare Group, which publishes many leading Canadian healthcare professional publications, as well as the gated websites CanadianHealthcareNetwork.ca and ProfessionSanté.ca. The Liberate app has been available on iTunes since January 31, 2014. Liberate is headquartered in Toronto, Canada.
NexJ Forward-looking Statement
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ's securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE NexJ Systems Inc.