Omnicell, Inc., a leading provider of medication management solutions and adherence tools for health systems and pharmacies, announced it has acquired pharmacy software solutions provider MarkeTouch Media, LLC for total aggregate cash consideration of $82 million, subject to customary adjustments. The acquisition is expected to expand the footprint of Omnicell’s EnlivenHealthTM division across the retail pharmacy sector, while enhancing potential growth opportunities in new market segments like specialty pharmacy and pharmacy benefits management.
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Recent studies have shown that the use of mobile apps can significantly improve medication adherence.1 The addition of MarkeTouch Media’s mobile and web-based technology and patient engagement solutions to EnlivenHealth’s suite of industry-leading SaaS-based solutions is expected to create a comprehensive offering that will help pharmacies and health plans to thrive while improving the lifelong health of their patients and members.
MarkeTouch Media’s longstanding pharmacy chain relationships further broaden EnlivenHealth’s national pharmacy network, enabling health plan partners to measurably improve their members’ medication adherence and overall health outcomes, while driving plan performance and profitability.
“Advanced, personalized communications, driven through SaaS-based solutions, play a critical role in enabling retail pharmacies and health plans to measurably improve patient health outcomes and retention while driving profitability,” said Randall Lipps, chairman, president, CEO, and founder of Omnicell. “The addition of MarkeTouch Media is intended to further strengthen Omnicell’s Advanced Services portfolio and extend our leadership position as a trusted technology partner for all sectors of pharmacy and associated healthcare stakeholders.”
“We are thrilled to be joining with one of the most respected and innovative medication management technology leaders in the industry,” said Charles Russo, chief executive officer of MarkeTouch Media. “The combination of our mobile and web-based capabilities and patient engagement solutions with EnlivenHealth’s broad portfolio of digital technology solutions will create a robust offering that will help pharmacies and health plans continue to achieve better patient health outcomes and business results.”
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Transaction Highlights
Under the terms of the purchase agreement, the acquisition price was $82 million, subject to customary adjustments. The MarkeTouch Media business that is being acquired recorded approximately $14 million in total revenue (unaudited) for the 12 months ended October 31, 2021. The acquisition was completed on December 31, 2021. Omnicell used available cash on its balance sheet to finance the transaction, which is expected to be immediately accretive to Omnicell’s non-GAAP EBITDA and non-GAAP earnings per share.