Awarepoint buys PCTS
Awarepoint Corporation, which develops real-time location system (RTLS) technology for hospitals, announced Tuesday that it has acquired Charlotte, N.C.-based Patient Care Technology Systems. Terms of the deal were not disclosed.
Officials said the combined organization, which unites Awarepoint's ZigBee based technology platform with PCTS's software and clinical applications, will make for an all-inclusive enterprise-wide RTLS solution.
PCTS currently serves 60 hospitals, while Awarepoint is installed at 93 hospitals and manages 150,627 assets.
"In response to market demand and the well documented successes of our shared clients, this is the ideal time to unite both companies' best-in-class offerings," said Jay Deady, CEO of Awarepoint. "Our combined solutions, proven track record, large installed base eager for enterprise-wide upgrades, and interoperable and configurable technology platform will allow Awarepoint to capitalize on an enormous untapped RTLS market."
He points out that analysts estimate RTLS market penetration in North America at only 10 to 12 percent – and at just 5 percent internationally.
Awarepoint is now well-positioned to address the pressing challenges hospitals are confronting during this period of transformational change in healthcare delivery, officials said. The company projects significantly accelerated domestic and international growth as existing hospital clients and prospects take advantage of Awarepoint's easy-to-use ability to track, analyze, and optimize resource allocation and improved workflow efficiencies.
This real-time data translates into actionable intelligence that can help identify how to improve patient care and safety as well as financial and clinical operational performance. For example:
- The average U.S. hospital owns or rents at least twice as many mobile medical devices (pumps, vents and wheelchairs, etc.) as they need. Up to 25 percent of those mobile assets are not properly cleaned between patients, a major cause of hospital-acquired infections. Awarepoint sends an alert to the proper person dirty equipment comes into contact with a patient or clinician and then identifies the procedural breakdown to fix and prevent a recurrence.
- Nurses typically spend about one hour per shift looking for missing equipment, additional staff or the actual surgical patient! This contributes to delays in 30 percent of all scheduled surgeries. Being able to quickly identify any tagged equipment, staff or patients anywhere within a facility means on-time procedures and nurses can focus on patient care.
- The ability to improve workflows and efficiencies in the Emergency Department, Perioperative area, and other high acuity areas allows hospitals to significantly drive dramatic revenue and patient safety outcomes.
"Our clients have been expanding beyond just asset tracking to temperature monitoring and patient tracking, but they are ready for more," says Deady. "They want an all inclusive, enterprise-wide RTLS workflow solution that delivers departmental and enterprise workflow outcomes. We are pleased to offer this next generation interoperable solution that enables the exchange of RTLS-generated data with HIEs, EHRs, clinical decision support systems and other HIS and RFID applications and technologies to enhance patient care, safety and outcomes."
"When we were making a decision on vendors there was not a single vendor solution available," said Alan Gresch, director of corporate clinical engineering at Aurora Health Care in Milwaukee. We chose PCTS for its leading software and Awarepoint for its superior technology platform. We are live on both and achieving great outcomes. We eliminated an annual spend on pump rentals, totaling $150,000 and have re-deployed close to $700,000 worth of capital because we can now find assets and increased utilization by 20%. I am so glad to know that going forward we will be working with one company to meet our future needs."
Awarepoint corporate headquarters will remain in San Diego, and PCTS will continue to operate its Charlotte, N.C. office. The PCTS executive team will remain intact and report to Jay Deady, Awarepoint's CEO. The majority of PCTS's staff will also be maintained and Awarepoint's board of directors will remain unchanged.