Multi-year Innovation Program Designed to Maximize Value and Outcomes for XT Automated Dispensing System
Omnicell, Inc. (NASDAQ:OMCL) ("Omnicell" or the "Company"), a leader in transforming the pharmacy care delivery model, today announced XT Amplify, a multi-year innovation program that is intended to maximize value for hospitals, health systems, and post-acute care facilities that have invested in Omnicell's XT Automated Dispensing System while also seeking to drive enhanced clinical and operational outcomes at the points of care and within pharmacies.
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XT Amplify - Innovative solutions designed to enhance pharmacy and nursing efficiency, reduce medication errors and waste, and ultimately maximize the value of XT Automated Dispensing System (Photo: Business Wire)
"We recognize that some of our customers are navigating difficult operational and economic environments. We believe Omnicell is nicely positioned to address these current challenges while adapting for the future," said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. "We are confident the XT Amplify program will deliver continuous innovation that addresses these evolving and complex needs, while helping customers to maximize outcomes and the value of Omnicell automated dispensing systems currently in use around the globe."
The solutions within the multi-year XT Amplify program are intended to enhance nursing efficiency, reduce medication errors and waste, and, ultimately, help health systems achieve the aspirational outcomes outlined in the industry-defined vision of the Autonomous Pharmacy. The first set of solutions that will be available in North America include:
XTExtend: This comprehensive console swap is intended to provide a high level of security while enhancing the user experience. Designed to be backward compatible, the console aims to strengthen interoperability within the healthcare facility, while maximizing value of current technology.
MedChill: Intended to improve the safety and security of individual, temperature-controlled medications, this secure device for compatible refrigeration supports item-level inventory visibility that is designed to maximize expiration dates to reduce waste and stockouts at the points of care and within pharmacies.
SupplyXpert: This inventory management software is designed to manage medical supplies housed within the XT Supply cabinet and open-shelf locations, providing insights into stockout events, stock value, key performance indicators, and optimization recommendations. This should extend the benefits of existing equipment while helping customers manage the increasing costs of medical supplies.
ServerScale: The on-premises OmniCenter virtual server solution is now available in a subscription format, that is intended to allow customers to stay current with the latest operating systems in an effort to ensure infrastructure readiness today, while providing a foundation for the evolving and expanding health system.
CarePlus: Omnicell's market-leading automation solutions are now supported by expert services that are designed to improve solution adoption and provide data-driven performance optimization information that is expected to enhance nursing and pharmacy efficiency.
XT Amplify is intended to enable all healthcare facilities, regardless of where they are in their adoption and utilization of Omnicell's XT Automated Dispensing System, to solve important challenges today and into the future.
"We recognize the value of technology-driven medication management. But installing a new infrastructure and the change management that comes with that can be very challenging," said Jennifer Hillman, PharmD, executive director of Pharmacy at San Antonio-based University Health. "XT Amplify provides us a path to implement innovative new solutions while maximizing the value of our existing technology investments."
XT Amplify is designed to support healthcare facilities as they advance toward the industry-defined vision of the Autonomous Pharmacy that seeks to replace manual, error-prone activities with automated processes that are intended to be safer and more efficient. To learn more, visit omnicell.com/XTAmplify.
About Omnicell
Since 1992, Omnicell has been committed to transforming pharmacy care through outcomes-centric innovation designed to optimize clinical and business outcomes across all settings of care. Through a comprehensive portfolio of robotics, smart devices, intelligent software, and expert services, Omnicell solutions are helping healthcare facilities worldwide to reduce costs, improve labor efficiency, establish new revenue streams, enhance supply chain control, support compliance, and move closer to the industry vision of the Autonomous Pharmacy. To learn more, visit omnicell.com.
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OMNICELL and the Omnicell logo are registered trademarks of Omnicell, Inc. or one of its subsidiaries.
Forward-Looking Statements
To the extent any statements contained in this press release deal with information that is not historical, these statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, statements including the words "expect," "intend," "may," "will," "should," "would," "could," "plan," "potential," "anticipate," "believe," "forecast," "guidance," "outlook," "goals," "target," "estimate," "seek," "predict," "project," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to the occurrence of many events outside Omnicell's control. Such statements include, but are not limited to, Omnicell's planned new products and services or developing enhancements to existing products and services, including XTExtend, MedChill, SupplyXpert), ServerScale, and CarePlus, and the related objectives and expected benefits (and any implied financial impact), and statements about Omnicell's strategy, plans, objectives, promise and purpose, goals, opportunities, and market or Company outlook. Actual results and other events may differ significantly from those contemplated by forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, (i) unfavorable general economic and market conditions, including the impact and duration of inflationary pressures, (ii) Omnicell's ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (iii) reduction in demand in the capital equipment market or reduction in the demand for or adoption of our solutions, systems, or services, (iv) delays in installations of our medication management solutions or our more complex medication packaging systems, (v) risks related to Omnicell's investments in new business strategies or initiatives, including its transition to selling more products and services on a subscription basis (vi) risks related to failing to maintain expected service levels when providing our Advanced Services or retaining our Advanced Services customers, (vii) Omnicell's ability to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, (viii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market, (ix) risks presented by government regulations, legislative changes, fraud and anti-kickback statues, products liability claims, the outcome of legal proceedings, and other legal obligations related to healthcare, privacy, data protection, and information security, including any potential governmental investigations and enforcement actions, litigation, fines and penalties, exposure to indemnification obligations or other liabilities, and adverse publicity as a result of the previously disclosed ransomware incident, (x) any disruption in Omnicell's information technology systems and breaches of data security or cyber-attacks on its systems or solutions, including the previously disclosed ransomware incident and any potential adverse legal, reputational, and financial effects that may result from it and/or additional cybersecurity incidents, as well as the effectiveness of business continuity plans during any future cybersecurity incidents, countries, (xi) Omnicell's ability to recruit and retain skilled and motivated personnel, (xii) Omnicell's ability to protect its intellectual property, (xiii) risks related to the availability and sources of raw materials and components or price fluctuations, shortages, or interruptions of supply, (xiv) Omnicell's dependence on a limited number of suppliers for certain components, equipment, and raw materials, as well as technologies provided by third-party vendors, and (xv) other risks and uncertainties further described in the "Risk Factors" section of Omnicell's most recent Annual Report on Form 10-K, as well as in Omnicell's other reports filed with or furnished to the United States Securities and Exchange Commission ("SEC"), available at . 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 assumes no obligation to update any such statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, new information, future events, or otherwise, except as required by law.
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