Vocera to Acquire PatientSafe Solutions
SAN JOSE, Calif.–(BUSINESS WIRE)– Vocera Communications, Inc. (NYSE:VCRA), a recognized leader in clinical communication and workflow solutions, today announced it is acquiring PatientSafe Solutions based in San Diego, CA. PatientSafe Solutions consolidates secure messages, voice calls, alerts, and nurse call notifications with data from the electronic medical record (EMR) to enable care teams to quickly manage mission-critical workflows in one mobile smartphone app. The deal is expected to close in the next few days.
PatientSafe Solutions was designed to be cloud ready and meet the clinical workflow needs of regional health systems and small to midsize healthcare facilities. The solution easily integrates with EMRs and many other clinical and operational systems to close the loop on patient-centered workflows, including positive patient ID (PPID), specimen collection, fall risk assessments, clinician documentation, and more. The contextual, task-based information presented by the app helps nurses, physicians, and other care team members make real-time decisions to provide safe, efficient, and effective care.
“This acquisition positions us well to extend our reach into small and mid-size hospitals with a simple-to-deploy and easy-to-use solution,” said Brent Lang, Chairman and CEO of Vocera. “We anticipate this transaction will also accelerate our evolution to the cloud and provide opportunities to strengthen key relationships, extending our communication and collaboration solutions to support more frontline workers across the continuum of care.”
Using PatientSafe Solutions, clinicians can securely access patient data from the EMR right at the point of care, unifying all communications, workflow tasks, and digital checklists that are specific to each patient. Checklists can include health history, risk assessments, lab results, vitals, medications, and more. Within each secure message, a single click will display real-time patient information and dynamic care team assignments that help clinicians take action and save time. Two-way communication with the EMR enables clinicians to complete documentation in the patient record directly from the app as well as schedule and conduct patient rounds, assign care team members, and track compliance.
“I am excited to join forces with Vocera, which is a leader in the clinical communication and collaboration market,” said Si Luo, PatientSafe Solutions CEO and President. “Together, we can make an even broader impact. With Vocera’s robust salesforce and clinical approach to designing and deploying solutions, we can reach more healthcare organizations and advance our shared mission of improving the safety and well-being of patients and care teams.”
Cain Brothers served as the exclusive financial advisor to PatientSafe Solutions on the transaction.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the U.S. federal securities laws. Examples of forward-looking statements in this press release include statements regarding the closing of the acquisition, expected synergies from the acquisition, and our ability to extend our market and make a broader impact. These forward-looking statements are based on limited information currently available to us and our management’s expectations, which are inherently subject to change and involve a number of risks and uncertainties.
Actual events or results may differ materially from those in any forward-looking statement due to various factors, including but not limited to, our ability to close the acquisition and realize the expected synergies, our ability to extend our reach into small and mid-size hospitals, our ability to accelerate our evolution to the cloud and extend our communication and collaboration solutions to support more frontline workers across the continuum of care, potential impacts of the COVID-19 pandemic on our operations, changes in regulations in the U.S. and other countries; the effects on government and commercial hospital customers of the federal budget and budgetary uncertainty; changes in healthcare insurance coverage and consumers’ utilization of healthcare and hospital services; our ability to achieve and maintain profitability; the demand for our various solutions in the healthcare and other markets; our lengthy and unpredictable sales cycle; our ability to offer high-quality services and support for our solutions; our ability to achieve anticipated strategic or financial benefits from our acquisitions; our ability to acquire the sole and limited source hardware and software components of our solutions; our ability to obtain the required capacity and product quality from our contract manufacturers; our ability to develop and introduce new solutions and features to existing solutions and to manage our growth; the impact of tax law reform on us or our customers; and the other factors described in our most recently filed Quarterly Report on Form 10-Q, as well as our other filings with the Securities and Exchange Commission (SEC). Our filings with the SEC are available on the Investors section of the Company’s web site at www.vocera.com. The financial and other information contained in this press release should be read in conjunction with the financial statements and notes thereto included in our filings with the SEC. Our operating results for any historical period are not necessarily indicative of our operating results for any future periods. This press release speaks only as of its date. We assume no obligation to update the information in this press release, to revise any forward-looking statements, or to update the reasons actual events or results could differ materially from those anticipated in forward-looking statements.
About PatientSafe Solutions
An industry leader in clinical communication and collaboration solutions for healthcare, PatientSafe Solutions helps hospitals measurably improve efficiency, clinical outcomes, and satisfaction by enabling smartphone-based closed-loop workflows. PatientSafe Solutions delivers quantifiable safety and quality improvements through a mobile platform that extends an organization’s EMR, clinical and communication infrastructure, and seamlessly enables virtual team-based care workflows. The company’s PatientTouch® platform simplifies care team collaboration by consolidating secure messaging, voice, video, pages, alerts and alarms, EMR data, rounding, and documentation in one mobile experience, on one device, for the entire care team.
About Vocera
The mission of Vocera Communications, Inc. is to improve the lives of healthcare professionals, patients, and families. Founded in 2000, Vocera provides solutions that help protect and connect team members, simplify workflows, increase efficiency, enhance quality of care and safety, and humanize the healthcare experience. More than 2,300 facilities worldwide, including nearly 1,900 hospitals and healthcare facilities, have selected Vocera solutions to enable their workforce to communicate and collaborate with co-workers and engage with patients and families. Mobile workers can choose the right device for their role or task, including smartphones or one of the company’s wearable communication devices, and use voice commands to easily reach people by name, role, or group. The hands-free Vocera Smartbadge was named to TIME’s list of the 100 Best Inventions of 2020. The Vocera Platform can integrate with more than 150 clinical and operational systems, including electronic health records, nurse call systems, ventilators, physiological monitors, and more. In addition to healthcare, Vocera solutions are found in aged care facilities, veterinary hospitals, schools, luxury hotels, retail stores, power facilities, and more.
