Omnicell Agree Product Distributor Agreement with Hanmi Pharm

Omnicell Agree Product Distributor Agreement with Hanmi Pharm

 Non-Exclusive product distribution agreement for modification dispensing and packaging automation solution supports the Autonomous Pharmacy vision and expands Omnicell’s Retail Pharmacy Portfolio in the UK

Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, today announced Omnicell Limited, a wholly owned subsidiary of Omnicell, Inc. ("Omnicell") has entered into an agreement with Hanmi Pharm. Co., Ltd, to distribute JVM Co medication dispensing and packaging automation in the United Kingdom.

The agreement is in line with Omnicell’s vision and appreciation that the retail pharmacy market wants choice through a more agnostic approach to automated medication adherence solutions.

The JVM model will support both blister and pouch adherence with the same level of detail and infrastructure Omnicell offers for its full range of solutions, but with a difference. Unique to the JVM model is that it offers a more flexible portfolio of hardware – from small desktop to large-scale models capable of handling between 300 to 576 cartridges – enabling it to meet the varying demands of the UK’s retail pharmacy market. Furthermore, users are able to scale up or down models to suit their requirements.

Across the United Kingdom there is increasing pressure on pharmacies to deliver additional services, while still maintaining their prescription and medication adherence offering. The Hanmi Pharm distributor agreement is expected to expand Omnicell’s existing automated medication adherence solutions, while making it more accessible to different users by providing more choice and, importantly, a wider budget range.

“The JVM range of products provides an exceptional new offering for a variety of budgets across the retail pharmacy market, which further demonstrates Omnicell’s commitment to understanding and meeting the needs of our clients,” said Sara Dalmasso, General Manager and Vice president of Omnicell International. 

“The last 18-24 months have placed immense pressure on the sector and this is another step in helping to make the day-to-day working lives of pharmacists easier and more efficient, and ultimately freeing up their valuable time to focus more on face-to-face patient interaction and care.”

Cyrus Hodivala, Sales Director, UK and Ireland, at Omnicell International adds: “It is important for us to be constantly evolving our solutions in line with the changing dynamics of the retail pharmacy sector. Joining forces with Hamni Pharma – a leading, global pharmaceutical company – provides a welcome expansion of Omnicell’s portfolio for the UK market.

“With a shared and comprehensive expertise in the automation field, we are confident the new partnership will ensure Omnicell remains at the forefront of automation solutions. By enabling pharmacists to easily scale their business, our solutions will result in immediate improvements in medication adherence and patient outcomes.”

Differentiated Portfolio of Solutions: The Hanmi Pharm Distribution Agreement is expected to provide differentiated solutions that complement Omnicell’s widely deployed retail pharmacy solutions in the UK, including a pack-pick dispensing robot, automated MDS filling machine, eMAR solution, as well as medication adherence consumables, all of which are designed to help improve medication adherence and health outcomes, while driving pharmacy business results.

Medication dispensing and packaging automation benefits: From entry-level models for pharmacists with space confinements, to high volumes solutions that can handle up to 576 cartridges. These automatically sort, distribute and package based on customised specification and remove the need for retail pharmacies to manually handle adherence packaging, returning time back to patient care and develop new revenue-generating healthcare services.  

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the outcome of the product distributor agreement, the expected benefits of the distribution of the JVM product line, the impact of the acquisition on Omnicell’s products and services, and the capabilities of the products and services of the Hanmi Pharm business. Without limiting the foregoing, statements including the words “expect,” “intend,” “will,” “plan,” “anticipate,” “believe,” “forecast,” “guidance,” “outlook,” “goals,” “target,” “estimate,” and similar expressions are intended to identify forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: that the transaction may yield additional value for stockholders; difficulties encountered or delays in integrating the acquired business, technologies, personnel and operations; costs related to the acquisition; market acceptance of the acquisition and resulting products and services; Omnicell’s inability to realize value from its significant investments in its business, including product and service innovations; the effect of the acquisition on Omnicell’s business relationships, operating results and business generally; disruption of current plans and operations, including potential disruptions with respect to our employees, vendors, clients and customers, as well as management diversion or potential litigation; and general market, political, economic and business conditions, including the ongoing COVID-19 pandemic (including new variants of the virus), and other industry or economic conditions outside of Omnicell’s control.

Additional information on potential factors that could affect Omnicell’s financial results is included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, each of which is on file with the U.S. Securities and Exchange Commission (“SEC”), and Omnicell’s other reports filed with or furnished to the SEC, as available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. Omnicell does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Advisors

Bird & Bird LLP served as legal counsel to Omnicell.

ENDS

For additional press information please contact Tracey Thompson at Trinity PR on tel: 02071124905 or email tracey.thompson@trinitypr.co.uk

About Omnicell

Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 7,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 60,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.co.uk.

OMNICELL is a registered trademark and the Omnicell logo is a trademark of Omnicell, Inc. or one of its subsidiaries.

About Hanmi Pharm

Hanmi Pharm is a global leading pharmaceutical company and owner of JVM Co., Ltd, manufacture of medication dispensing & packaging automation. Established in 1973 in South Korea, they work ‘to develop better drugs for precious lives’ and to advance to the global market as a representative of the Korean Pharmaceutical industry by focusing on R&D. Acquiring medication management automation company JVM in July 2016 they added the full range of automation solutions to their portfolio, going on to win the 2017 Korea Technology Award and have continued to expand their offering since.  http://www.hanmipharm.com/