Next-generation, cloud native, software workflow engine and data platform intended to seamlessly integrate enterprise robotics and smart devices across the continuum of care
Company Showcases New and Enhanced Outcomes-Centric Innovation at ASHP Midyear 2024
Omnicell, Inc. (NASDAQ:OMCL) ("Omnicell" or the "Company"), a leader in transforming the pharmacy and nursing care delivery model, today announced OmniSphere, a next-generation, cloud native, software workflow engine and data platform. This groundbreaking new platform, designed to leverage the full power of a cloud native architecture, seamlessly integrates robotics and smart devices to support more secure, data-driven, medication management across the continuum of care.
"As health systems continue to evolve and expand, this can often lead to disconnected systems across care settings, which may create serious challenges for safe and effective medication management," said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. "With OmniSphere, our team started from the ground up to develop a new cloud native platform for pharmacy and nursing that is designed to be the connected backbone for all Omnicell products."
OmniSphere is intended to create a streamlined interoperable experience by connecting enterprise-wide robotics and smart devices, software workflows, and robust analytics that is meant to deliver optimal end-to-end medication inventory management. OmniSphere is designed to provide customers:
- State-of-the-art security through a scalable infrastructure and platform with certified cyber and data security
- Improved productivity with one point of access for all cloud-connected Omnicell automation
- Enterprise-wide visibility to medication inventory and utilization lays the groundwork to leverage AI to provide actionable enterprise insights and optimization opportunities
- Streamlined upgrades that are intended to rapidly scale, optimize operations, and adapt to evolving demands
Earlier this year, Omnicell announced XT Amplify, a multi-year program intended to maximize the value of XT technology investments. The solutions within the XT Amplify program are OmniSphere ready — including MedChill and XTExtend. With MedChill and XTExtend, customers are expected to realize enhanced outcomes while enabling XT to connect to the new OmniSphere platform.
Showcasing Outcomes-Centric Solutions at Booth #1419
Omnicell will showcase the Company's full portfolio of outcomes-centric solutions at the American Society of Health-System Pharmacists (ASHP) Midyear 2024 Clinical Meeting and Exhibition, December 8-12, 2024, in New Orleans, Louisiana. Attendees will have the opportunity to appreciate how Omnicell's suite of robotics and smart devices, software workflows, expert services, and analytics are working to transform clinical and operational outcomes.
New offerings and product enhancements across the care continuum include:
MedChill Integrated with Follett Refrigerators
MedChill, a powerful line-item level inventory management solution for temperature-controlled medications now integrates with Follett refrigerators, which is intended to provide an out-of-the-box solution that should simplify and accelerate installation, while streamlining dispensing workflows. MedChill is available as a fully embedded offering with Follett refrigerators, which feature variable speed control technology designed to deliver the precise amount of refrigeration needed for optimal temperature performance.
Drug Supply Chain Security Act (DSCSA) Interfaces
Omnicell has collaborated with TrackTraceRX and LSPedia to develop new interface options with Omnicell's Central Pharmacy Manager software in an effort to streamline medication receiving processes that is intended to support DSCSA requirements. *
*Offered by TrackTrace-Rx and LSpedia and expected to be generally available in early 2025
HITRUST Data Security Certification
Omnicell's medication management solutions powered by the OmniCenter platform have once again received HITRUST Common Security Framework (CSF) certification, that we believe demonstrates the Company's ongoing commitment to high standards for cybersecurity and data protection within the organization and for business partners and customers.
Continuing Education Opportunities at ASHP Midyear
Omnicell will present the Midday Symposium "Serve Up a Win – Valuable Partnerships to Drive Sterile Compounding and Specialty Pharmacy Outcomes" on Tuesday, December 10, at 11:30 AM CT. This continuing education event features Arpit Mehta, director of Pharmacy for Allegheny General Hospital, John Jordan, senior director of Pharmacy Services at TidalHealth, and Rob Ritchey, administrative director of Pharmacy and Supply Chain at Blessing Health, who will share first-hand experiences of how technology and professional services are enhancing operational and clinical outcomes in both IV compounding and specialty pharmacy.
To learn more about Omnicell's presence at ASHP Midyear 2024, please visit omnicell.com/ASHP2024.
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.
From time to time, Omnicell may use the Company's investor relations website and other online social media channels, including its LinkedIn page www.linkedin.com/company/omnicell, and Facebook page www.facebook.com/omnicellinc, to disclose material non-public information and comply with its disclosure obligations under Regulation Fair Disclosure ("Reg FD").
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 OmniSphere and MedChill 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 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 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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