Omnicell Launches Specialty Pharma Services to Support Optimized Ambulatory Medication Management and Drive Clinical and Business Outcomes for Healthcare Systems

SANTA CLARA, Calif.–(BUSINESS WIRE)–Omnicell, Inc. (Nasdaq: OMCL) (“Omnicell”), a leading provider of medication management and compliance tools for healthcare systems and pharmacies, today announced the launch of Specialty Pharmacy Services, a turnkey offer with dedicated services to define, create, operate and optimize a specialty pharmacy program.

Spending on specialty drugs is expected to reach $316 billion by 2025.1 As chronic diseases continue to rise, patients often need access to these complex specialty medications to avoid rehospitalization and maintain their health. Establishing and optimizing a specialty pharmacy can be an important step for any hospital looking to support access, improve patient care, and generate revenue in the growing specialty drug market.

Specialty Pharmacy Services is a comprehensive offering designed to help healthcare systems launch and/or optimize a fully managed, hospital-owned specialty pharmacy. This complete solution is intended to provide:

  • Improving Access to Specialty Medicines to Improve Care and Support Patient Outcomes

  • Financial results for clients through a “value-based” service model that is expected to drive transformative financial results in this high-growth area

  • A single provider that provides the technology, services and broad expertise to meet medication management needs from the hospital to the home

“With the financial pressures brought on by COVID-19, health systems must examine non-traditional direct revenue opportunities for patient care. For Temple, based on our patient population, investing in specialty pharmacy has become a priority.” said Abhinav Rastogi, President and CEO, Temple University Hospital. “Our strategic partnership with Omnicell provided the managed services and expertise we needed to accelerate time to market by setting up our own specialty pharmacy operation. With their help, we were able to fill our first specialty prescription internally in just five months.”

With the Summer 2022 release, Omnicell continues to execute on its strategy to transform the pharmacy care delivery model with enhancements designed to improve workflows and support patient safety initiatives.

Omnicell One™a cloud-based software-as-a-service offering, includes new features to provide even greater visibility and benchmarking capabilities to help align key performance indicators of cost and labor savings work for customers.

Central pharmacy dispensing service (CPDS), combining advanced central pharmacy robotics technology with expert services, offers enhancements to support patient safety, inventory visibility and cost savings for customers.

point of service solutions focused on continuously improving the user experience to improve the efficiency and safety of point-of-care medication management.

“We believe that achieving fundamental change in pharmaceutical care will require services and solutions that touch the entire continuum of care,” said Scott Seidelmann, executive vice president and chief commercial officer of Omnicell. “With the launch of our specialty pharmacy services and enhancements to our advanced services portfolio, Omnicell continues its efforts to deliver optimized clinical and financial outcomes for our customers in all care settings.”

Learn more about the Omnicell Summer 2022 release at www.omnicell.com/solutions/summer-2022-release.

About Omnicell

Since 1992, Omnicell has been committed to transforming the pharmaceutical care delivery model to dramatically improve outcomes and reduce 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 care contexts. Healthcare facilities around the world use Omnicell automation and analytics solutions to increase operational efficiency, reduce medication errors, provide actionable insights and improve patient safety. Institutional and retail pharmacies across North America and the UK are leveraging Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and prescription compliance, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.

OMNICELL and the Omnicell logo are registered trademarks and Omnicell One is a trademark of Omnicell, Inc. or one of its subsidiaries.

Forward-looking statements

To the extent that statements in this press release address information that is not historical, such statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, statements including the words “expect”, “intend”, “may”, “will”, “should”, “should”, “could”, “plan”, “potential”, “anticipate” , “believe”, “expect”, “guidance”, “outlook”, “goals”, “target”, “estimate”, “research”, “plans”, “project” and similar expressions are intended to identify forward-looking statements Forward-looking statements are subject to the occurrence of numerous events beyond Omnicell’s control.Such statements include, but are not limited to, planned new products and services, enhancements to existing products and services, and related goals and expected benefits (and any implied financial impact), and statements about Omnicell’s strategy, plans, objectives, goals and objectives. vision. Actual results and other events may differ materially from those contemplated by the forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among others, (i) risks related to the ongoing COVID-19 pandemic (including new variants of the virus), (ii) Omnicell’s ability to take advantage of growth opportunities and to develop and market new solutions and improve existing solutions, (iii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication compliance solutions market, (iv) general adverse economic and market conditions or reduced demand for our solutions, (v) changes to the 340B program, (vi) risks relating to Omnicell’s investments in new business strategies or initiatives, including including its transition to selling more subscription-based products and services, (vii) any disruptions to Omnicell’s computer systems and breaches of data security or cyber r-attacks on its systems or solutions, including the previously disclosed ransomware incident and any potential adversary resulting legal, reputational, and financial effects and/or other cybersecurity incidents, as well as the effectiveness business continuity plans during any future cybersecurity incident, (viii) Omnicell’s ability to protect its intellectual property, (ix) Omnicell’s ability to respond to requests or maintain relationships with its institutional customers , retailers and specialty pharmacies, (x) Omnicell’s ability to recruit and retain qualified and motivated personnel, (xi) risks relating to availability and sources of raw materials and components or price fluctuations, shortages or disruptions in supply, (xii) Omnicell’s dependence on a limited number of suppliers for certain components, equipment and raw materials, as well as technologies provided by third-party vendors, and (xiii) other risks and uncertainties described in more detail in the “Risk Factors” section of Omnicell’s most recent Annual Report on Form 10-K, as well as in the other reports of Omnicell d with or provided to the United States Securities and Exchange Commission (“SEC”), 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 undertakes no obligation to update these statements publicly, or to update why actual results could differ materially from those expressed or implied in the forward-looking statements, whether as a result of changes in circumstances, new information, future events or otherwise, except as required by law.

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1https://www.iqvia.com/insights/the-iqvia-institute/reports/global-medicine-spending-and-usage-trends-outlook-to-2025

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