Deal expands Aesynt's pharmacy automation portfolio to include intravenous medication compounding and dispensing solutions and broadens company's international footprint
CRANBERRY TOWNSHIP, Pa.--Aesynt™ , a leading provider of integrated pharmacy automation solutions for hospitals and health systems, announced it has completed the acquisition of Health Robotics, the leading global supplier of automated technology for intravenous (IV) medication preparation, compounding and dispensing. The acquisition of the Italy-based company signifies Aesynt's strong, continued growth following its own acquisition by Francisco Partners in 2013, as the move will increase Aesynt's global reach and solidify its position as the only company in the market able to provide a complete solution for pharmacy automation, regardless of medication type or distribution model.
Health Robotics provides integrated IV compounding and dispensing device and workflow solutions for hospitals and health systems with its i.v.STATION®, i.v.SOFT® and i.v.STATION® ONCO product lines. The company's robotics-based IV automation solutions support more safe and efficient production of ready-to-administer IVs, thereby helping to reduce medication errors, increase medication throughput and lower costs associated with IV compounding and dispensing.
"The acquisition of Health Robotics, the market leader in IV automation, perfectly aligns with Aesynt's growth strategy, as it allows us to offer the most complete portfolio of pharmacy automation solutions on the market," said Kraig McEwen, CEO at Aesynt. "The cost, footprint and throughput benefits of Health Robotics' next-generation products truly set them apart and will enhance our comprehensive suite of solutions. This further advances our mission of helping hospitals and health systems improve outcomes, build stronger businesses and better manage change."
Chris Adams, a principal of Francisco Partners, added, "Francisco Partners is pleased to continue to support the inorganic and organic growth strategy of Aesynt."
Under the terms of the agreement, Aesynt assumed complete ownership of Health Robotics, with all 65 employees immediately joining Aesynt. Founder-entrepreneurs Fabio Fioravanti and Gaspar DeViedma will remain with the company as Managing Directors of Research, Development & Operations and Global Commercialization, respectively. R&D and operations for IV automation products will continue to be headquartered in Italy.
"We are excited about the opportunities for our combined organizations to work together to advance IV automation, along with the broader portfolio of pharmacy automation, to improve medication safety, optimize productivity and reduce costs for our customers," said Gaspar DeViedma.
Health Robotics' breadth of robotic and non-robotic automation solutions automate compounding, capping and labeling sterile, ready-to-administer IV bags, syringes and TPNs, helping hospitals diminish the risks and labor-intensive processes associated with manually compounding and dispensing IV solutions. This, in turn, will enable hospitals and health systems to:
*Improve patient and clinician safety
*Eliminate life-threatening medication and diluent exchange errors
*Enhance medication potency
*Reduce errors, sterility risks and waste
*Comply with compounding and dispensing guidelines and regulations
Financial terms of the transaction were not disclosed.
Aesynt Incorporated is committed to continuously advancing medication delivery, offering integrated pharmacy automation solutions that help hospitals and health systems to support improved patient outcomes, build stronger businesses and manage ongoing change. For more information, visit www.aesynt.com. Follow Aesynt on Twitter at https://twitter.com/aesynt.
About Francisco Partners
Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm's deep sub-sector knowledge and operational expertise can help a company realize its full potential. For further information, please visit: www.franciscopartners.com.