AmerisourceBergen's Pharmacy Healthcare Solutions Unit Signs Co-Marketing and Investment Agreement with ClinPharm LLC
VALLEY FORGE, Pa., Oct 1, 2001 (BUSINESS WIRE) --AmerisourceBergen Corporation (NYSE: ABC) today announced that its Pharmacy Healthcare Solutions (PHS) unit has signed a co-marketing and investment agreement with ClinPharm LLC. ClinPharm develops advanced clinical software programs designed to enhance patient safety and optimize drug therapy.
ClinPharm's primary product, MedStorm(TM), enables pharmacists to easily search and analyze medication profiles and laboratory results to identify patients at risk for medication related adverse events and initiates an automated physician notification process. The program provides pharmacists and physicians with recommendations for optimal care by integrating national guidelines, published recommendations and hospital-specific protocols into its medical logic modules.
"We are excited about the prospect of offering to our customers an efficient and inexpensive system of reducing adverse drug events," commented Allen Zimmerman, President of Pharmacy Healthcare Solutions. "ClinPharm's programs are quite expansive and represent a new generation of proactive software to the market."
During the development stages, MedStorm won an "Innovation in Teaching" award from the American Association of Colleges of Pharmacy and it's founder, Gamal Hussein, Pharm. D., won the prestigious "Health System Practitioner Award" given by the National Pharmaceutical Association. In addition, the International Association of Therapeutic Drug Monitoring has supported and promoted the evaluation of the program by its members in more than 40 countries.
Under the terms of the agreement, PHS will initially take a minority ownership of the company with rights to purchase the remainder of the company during the term of the agreement.
Dr. Hussein stated, "We are pleased that we will be working with PHS and AmerisourceBergen to expand access to MedStorm's innovative technology. This is the best time to unite our efforts to optimize one of America's top healthcare priorities: patient safety."
About Pharmacy Healthcare Solutions
Pharmacy Healthcare Solutions is one of the premier providers of pharmacy support services in the United States with a diverse range of software products and consulting services designed to assist health systems and pharmacy providers in achieving a cost effective, quality driven pharmaceutical care model. PHS is the largest provider of indigent pharmaceutical recovery services, serving more than 130 facilities encompassing 27,000 hospital beds and over 25 outpatient pharmacy clinics. The company also provides a wide range of clinical, operations and technology consulting services to hospitals seeking to improve their pharmacy operations and optimize the use of pharmaceutical agents.
About AmerisourceBergen Corporation
AmerisourceBergen is the largest pharmaceutical services company in the United States dedicated solely to the pharmaceutical supply chain. It is the leading distributor of pharmaceutical products and services to the hospital systems/acute care market, alternative care facilities, and independent community pharmacies. The Company is also a leader in the institutional pharmacy marketplace. With approximately $36 billion in annualized operating revenues, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 13,000 people serving over 25,000 customers.
This press release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. The forward-looking statements herein include statements addressing future financial and operating results of AmerisourceBergen and the benefits and other aspects of the merger. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the risk that the businesses of AmeriSource and Bergen Brunswig will not be integrated successfully; failure to obtain and retain expected synergies; and other economic, business, competitive and/or regulatory factors affecting the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in AmeriSource's and Bergen Brunswig's filings with the Securities and Exchange Commission, including each of their Annual Reports on Form 10-K for fiscal 2000, their most recent quarterly reports on Form 10-Q, and their joint proxy statement-prospectus dated August 1, 2001. AmerisourceBergen, AmeriSource and Bergen Brunswig are under no obligation to (and expressly disclaim any such obligation to) update or alter their forward-looking statements whether as a result of new information, future events or otherwise.
Michael N. Kilpatric, 610/727-7118