PITTSBURGH, Jan. 6 /PRNewswire/ -- TeleTracking Technologies, Inc., the market leader of patient flow automation solutions and services to the hospital market, experienced its eighth straight year of solid growth in 2009.
It added more than 70 new hospital clients and strengthened its strategic base with key acquisitions and partnerships, including the NaviCare® Patient Flow division of Hill-Rom, the 'sensor network-based' real-time location system (RTLS) company RadarFind Corp., and the exclusive world-wide license for a specialized transfer center management application. To help support this growth, the Company added 45 new employees to its base, despite the trying economy.
According to Anthony Sanzo, President & CEO of TeleTracking, "Each transaction was executed to support TeleTracking's strategic plan to touch and improve all facets of the patient care continuum affecting patient flow."
TeleTracking acquired NaviCare® Patient Flow from Hill-Rom in early 2009, along with its client base of more than 30 hospitals. "The acquisition was an important part of our strategic growth plan," commented Kirk Stephen, CFO and COO of TeleTracking, "providing a long-term channel partnership with their North American Acute and Health Care IT sales team, and a joint development agreement which allows us to expand the benefits of patient flow automation to the patient bedside with integration to Hill-Rom's NaviCare® Nurse Call solutions."
In addition to NaviCare®, TeleTracking made a strategic technology-related acquisition with RadarFind Corp., a North Carolina-based provider of cost-effective, real-time location systems (RTLS). "Patient flow automation across a health enterprise has been our mission for nearly two decades," said Sanzo, "and we see quite clearly how the convergence of automated patient flow processes and patients, staff and equipment locationing can help."
The RadarFind technology is unique in the RTLS industry. "It's much more than locating or tracking something," said Steve Jackson, CTO of TeleTracking's wholly-owned subsidiary, RadarFind. "It's really a 'sensor network' that delivers the ability to intelligently monitor and communicate with a 'smart tag'. The tag can not only highlight the location of an IV pump or a specialty bed, but can also sense and provide alerts on other variables, such as the status or temperature of an item."
The uniqueness of RadarFind's sensor network and smart tag technology will "...fundamentally change the RTLS industry and provide essentially an unlimited potential of information for even better patient flow," said RadarFind President and COO, Mike Nelson.
The transfer center software streamlines the information gathering and managing of the extensive, dispersed communication required to refer and accept a critically ill patient. The product, licensed world-wide, will be integrated into TeleTracking's Bed Management Suite(TM). "The patient flow continuum extends beyond the four walls of a typical hospital," said Lisa Romano, RN, MSN, TeleTracking's CNO and Managing Director for Avanti, "and for our larger clients that accept transfers or referrals from other hospitals, we saw an opportunity to improve the patient flow from referring doctors and hospitals."
TeleTracking sees 2010 as yet another growth year where, through the industry's only true enterprise-class platform, TeleTracking XT(TM), and system-wide approach to patient flow, it will work to redefine the healthcare industry's expectations of what better patient flow can do for a hospital, its employees and most importantly, its patient community.
TeleTracking Technologies is the world-leading producer of automated patient flow solutions and services helping to relieve hospital overcrowding and improve throughput. TeleTracking's revenues have grown at an average rate of 24% since 2003 and have grown to over 225 employees throughout the United States, Canada and the United Kingdom. The privately-held, Pittsburgh-based firm has over 1,750 patient flow solutions installed and working in more than 800 of the best-known hospitals and health systems in the United States, Canada and the United Kingdom. TeleTracking was first to recognize patient flow as a "continuum of actions and activities involving many people." It launched the automated patient flow industry in 1991 with BedTracking®, the first automated bed turnover solution and has since introduced a number of industry-standard firsts to its patient flow portfolio, including the electronic bedboard®, healthcare's first digitized way to manage patient placement and hospital census. TeleTracking interests also include its consulting division, Avanti Patient Flow Services, and its wholly owned subsidiary, RadarFind, a real-time location system provider.
Media Contact: Christopher Anderson Director of Marketing TeleTracking Technologies 412-391-6369
SOURCE TeleTracking Technologies, Inc.