BALTIMORE, March 10, 2011 /PRNewswire/ -- Remedi SeniorCare®, which is among the nation's largest independent institutional pharmacies, is revolutionizing the long-term care (LTC) pharmacy industry with the Paxit™ med-pass system, its 24-hour unit dose medication administration system enabled by fully automated centralized proprietary dispensing technology. Remedi is continuing to expand its existing operations in Maryland and the Washington, D.C. area, where its robotic systems have industrialized medication administration, transforming the way personnel in skilled care facilities manage and deliver medications to their residents. The company is planning further deployment of the innovative Paxit systems in Virginia, Michigan and Ohio later in 2011.
Paxit delivers a 24-hour unit-dose cycle of individually blistered medications in compliance packaging, making it the industry's most accurate medication administration system, dramatically reducing errors and medication waste while increasing nurse efficiency up to 30 percent. In addition, Paxit users can save 7 to 15 percent on overall medication costs, significantly improving the operating efficiencies within the LTC market. Since its launch in August 2009, Paxit has dispensed more than 12 million doses in 4 million Paxit bags. Currently, the system services more than 5,000 residents in Maryland, Delaware, DC and Northern Virginia.
"The long-term care pharmacy industry has been devoid of significant innovation for decades," said Michael Bronfein, CEO of Remedi SeniorCare. "As part of Remedi's commitment to enabling its customers' success, we have made the significant investment to develop this groundbreaking system, which we believe defines the new standard in medication accuracy, unparalleled patient safety and cost savings. Paxit is an industry game-changer and the answer to improving nursing satisfaction and efficiency and reducing medication costs throughout the entire system."
The patent-pending Paxit technology is the result of more than five years and millions of dollars in research and development that enables its customers to achieve the benefits sought in the Patient Protection and Affordable Care Act. Benefits sought include 7-day or shorter fills for prescriptions, commonly referred to as "short-cycle dispensing," ultimately leading to reduced waste associated with typical 30-day fills. Without the need for additional government regulation, Paxit exceeds the requirement of the Act by providing automated daily dose dispensing, eliminating the waste associated with many LTC facilities.
Saves Nurses Time. By using Paxit, nurses on average reduce their medication administration time by 25 to 30 percent with greater accuracy and improved care. Nurses save hours a month on administrative work by eliminating the time associated with returns and refill processing.
Nurse involvement at every stage of development of Paxit resulted in a user-friendly design and smooth process flow:
Paxit is the first and only medication administration system designed by nurses with resident safety, nursing efficiency and cost reduction as their primary objectives.
About Remedi SeniorCare
Remedi SeniorCare, a leading long-term care pharmacy, transforms the way long-term care organizations manage and deliver medications for their residents. Remedi SeniorCare brings a unique understanding of the needs of long-term care nurses and administrators. The company provides reliable and accurate pharmacy delivery, innovative technology, deep expertise and high-touch service to guide facilities through the complex landscape of pharmaceutical care. Currently serving eight states and more than 22,000 residents, Remedi SeniorCare helps long-term care facilities achieve outstanding care, medication safety, operational efficiencies and Healthier Results™. For more information, please visit www.RemediRX.com.
About Sterling Partners
Sterling Partners, the lead investor in Remedi SeniorCare, is a leading private equity firm with over 25 years of experience partnering with entrepreneurs to build market-leading businesses and generate superior returns. With approximately $4 billion of assets under management, Sterling invests growth capital in industries with positive, long-term trends and provides ongoing support to management through a dedicated team of industry veterans, operators, strategy experts and human capital professionals. Sterling Partners is a leader in education, healthcare and business services and is co-headquartered in Chicago and Baltimore. For more information, please visit www.SterlingPartners.com.
|SOURCE Remedi SeniorCare|
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