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Know-how chief seeks to assist deal with rising drug diversion problem within the U.S.
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WALTHAM, Mass. — Wolters Kluwer Health right this moment introduced it has signed and accomplished the acquisition of Invistics Corporation (Invistics), a U.S.-based supplier of cloud-based, AI-enabled software program for drug diversion detection and managed substance compliance. Invistics will be part of the corporate’s Medical Surveillance, Compliance & Information Options unit, a part of Medical Options.
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Invistics’ answer, Flowlytics, makes use of predictive analytics to detect illicit diversion of each managed and non-controlled medicines in affected person care settings equivalent to hospitals and ambulatory surgical procedure facilities. Drug diversion is a rising problem within the U.S. healthcare system, costing some $70 billion per 12 months. One research estimates 10% to fifteen% of well being professionals will misuse medication or alcohol in some unspecified time in the future of their profession, rising the chance for drug diversion.¹ Drug diversion happens when a healthcare employee illegally obtains or makes use of pharmaceuticals supposed for a affected person.
Flowlytics reconciles drug transactions from buy to affected person and makes use of AI to quickly and precisely establish patterns of conduct in line with drug diversion. A five-year Nationwide Institutes of Well being-funded research discovered that Flowlytics detected circumstances of drug diversion sooner and with extra effectivity than legacy options.² Along with detection, the answer additionally helps diversion investigation, adjudication, and reporting workflows.
“Invistics’ superior know-how answer matches completely with our present choices, equivalent to Simplifi+® and Sentri7®, which assist prospects obtain optimum scientific outcomes and regulatory compliance,” commented Karen Kobelski, Vice President and Common Supervisor for Medical Surveillance, Compliance & Information Options at Wolters Kluwer Well being. “Our efforts to assist well being methods deploy efficient pharmacy surveillance and compliance packages to scale back affected person danger are additional enhanced by incorporating the Invistics answer.”
“Invistics is acknowledged as a pacesetter in progressive approaches for drug diversion detection and managed substance compliance. We’re excited to affix Wolters Kluwer Well being—our shared dedication to affected person security makes this a pure dwelling for Invistics,” commented Tom Knight, Founder and Chief Govt Officer, Invistics.
Invistics, based in 1999, relies in Atlanta, GA. Wolters Kluwer expects the acquisition to ship a return on invested capital (ROIC) above its weighted common value of capital (8%) inside 3-5 years and expects the transaction to have an immaterial affect on adjusted earnings.
¹ Baldisseri MR. Impaired healthcare skilled. Crit Care Med. 2007 Feb;35(2 Suppl):S106-16. doi: 10.1097/01.CCM.0000252918.87746.96. PMID: 17242598. https://pubmed.ncbi.nlm.nih.gov/17242598/
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² Tom Knight, MS, MS and others, Detecting drug diversion in health-system information utilizing machine studying and superior analytics, American Journal of Well being-System Pharmacy, Quantity 79, Concern 16, 15 August 2022, Pages 1345–1354, https://pubmed.ncbi.nlm.nih.gov/35136913/
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a worldwide chief in info, software program, and providers for professionals in healthcare, tax and accounting, monetary and company compliance, authorized and regulatory, and company efficiency and ESG. We assist our prospects make crucial choices day-after-day by offering professional options that mix deep area information with specialised know-how and providers.
Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves prospects in over 180 nations, maintains operations in over 40 nations, and employs roughly 20,000 individuals worldwide. The corporate is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included within the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Stage 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market within the U.S. (WTKWY).
For extra info, go to www.wolterskluwer.com, observe us on LinkedIn, Twitter, Facebook, and YouTube.
For extra details about our options, go to https://www.wolterskluwer.com/en/health and observe us on LinkedIn and Twitter @WKHealth
Ahead-looking statements and different vital authorized info
This report incorporates forward-looking statements. These statements could also be recognized by phrases equivalent to “count on”, “ought to”, “might”, “shall” and comparable expressions. Wolters Kluwer cautions that such forward-looking statements are certified by sure dangers and uncertainties that might trigger precise outcomes and occasions to vary materially from what’s contemplated by the forward-looking statements. Elements which might trigger precise outcomes to vary from these forward-looking statements might embody, with out limitation, normal financial circumstances; circumstances within the markets wherein Wolters Kluwer is engaged; conduct of consumers, suppliers, and rivals; technological developments; the implementation and execution of recent ICT methods or outsourcing; and authorized, tax, and regulatory guidelines affecting Wolters Kluwer’s companies, in addition to dangers associated to mergers, acquisitions, and divestments. As well as, monetary dangers equivalent to forex actions, rate of interest fluctuations, liquidity, and credit score dangers might affect future outcomes. The foregoing checklist of things shouldn’t be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.
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