IH Systems, with about 80 employees, is swallowing a much larger company, as ABTG has about 250 employees and annual sales of approximately $100 million. (Its former parent company, AmerisourceBergen, has annual revenue of about $88 billion yearly.)
Arxium will have headquarters in Winnipeg, Manitoba and Buffalo Grove, Illinois, near Chicago.
IH Systems and ABTG are both recognized as leaders in developing proprietary technology to enhance pharmacy operations. IH Systems RIVA technology is the only fully automated IV compounding system on the market today, while ABTG provides the industry’s leading workflow and scheduling software.
By integrating the two firms’ products, resources and expertise into a seamless offering, Arxium will be able to provide customers a broader range of pharmacy technology.
“We know that technology helps pharmacies enhance safety and efficiency, and reduce costs,” said Dr. Niels Erik Hansen (pictured), president and CEO of IH Systems, who will serve in the same capacity with Arxium. “By acquiring ABTG and combining our specialized technology resources, we expect to bring significant innovation to market more quickly, meet customer needs more effectively and rapidly expand our global footprint.”
Over the past several years, IH Systems has pioneered a comprehensive workflow concept called Total Dose Solution (TDS), a fully customizable solution that encompasses planning and scheduling, workflow, and resource and production management. Within Arxium, the TDS offering will provide customers the opportunity to optimize operations with the convenience of working with a single vendor that can deliver all components of an end-to-end solution.
“This is a very important day for IH Systems and ABTG, but its even more important for pharmacy practitioners everywhere who are seeking safer, more efficient solutions,” said owner Ed Van Humbeck, whose family acquired a controlling interest in IH Systems last spring.
“The integration of these two companies will create something that is truly greater than the sum of its parts. We will provide a broad range of tools for pharmacies to vastly improve patient safety, operating cost and workflow efficiency.”
About Intelligent Hospital Systems
Founded in 2006, Intelligent Hospital Systems (IH Systems) is a medical device company focused on the design and development of automated solutions for the hospital environment. Based in Winnipeg, Manitoba, IH Systems manufactures RIVA, a fully-automated IV compounding system that prepares medications for syringes and IV bags in an aseptic environment. Using RIVA, hospitals enhance patient safety, lower the cost-per-dose of medications, reduce their vulnerability to medication shortages and cut waste. For more information, visit http://www.intelligenthospitals.com/