US-based digital health firm Custom Health has acquired PatchRx, a company specialising in medication adherence and remote monitoring technology.
The financial terms of the deal were not disclosed.
Custom Health, which operates pharmacies in Canada and the US, leverages automation and data integration to ensure medication adherence.
PatchRx’s smart pill bottle caps, designed for generic prescription bottles, are said to be complemented by its software platform. Together, they equip healthcare providers with the necessary insights to evaluate the effectiveness of treatments and take early action to prevent negative outcomes.
The acquisition of PatchRx enhances Custom Health’s data-driven medication management programmes by offering real-time insights.
It is expected to improve care for patients with chronic conditions while reducing healthcare costs.
As part of the acquisition, PatchRx’s co-founders, Andrew Aertker and Gavin Buchanan, along with key employees, will be transitioned to Custom Health.
The collaboration aims to connect patients, providers, and payors through real-time data, connected dispensing, and personalised engagement, said Custom Health.
Custom Health CEO Shane Bishop said: “The future of outcomes-driven medication programs lies in connectivity and data interoperability, not just getting medications to patients, but ensuring they are taken as prescribed, and then monitoring their impact and adapting treatment to achieve the best possible clinical outcomes.
“Nearly 60% of adults have a chronic physical or mental health condition and an estimated 40% of adults have two or more.
“Integrating PatchRx technology into our AdhereNet platform enhances our ability to monitor adherence in real time and take swift action to support patients and improve outcomes.”
PatchRx’s patented PatchCap technology is used in clinics and pharmacies across the US, enabling remote monitoring and improved patient adherence.
Its integrated software and hardware offer a real-time view of medication compliance, allowing patients to manage their medicines and clinicians to intervene before issues arise.
The acquisition brings PatchRx’s medication adherence under Custom Health’s connected care platform of vertically integrated patient care solutions.
PatchRx CEO Aertker said: “Our strategy at PatchRx is about more than hardware and dashboards, it’s about giving providers visibility into medication adherence where they previously had none.
“By joining Custom Health, we’re embedding that visibility directly into the end-to-end care process at a nationwide scale while complementing their proven model of technology-enabled patient outcomes management. This is the next evolution of how tech and pharmacy should work together.”
