AMN Healthcare Invests in Leading Telepharmacy Company PipelineRx
Partnership Enhances AMN Workforce Solutions Offering
AMN Healthcare, the innovator in healthcare workforce solutions and largest provider of staffing services in the nation, announced today it has made a strategic investment in PipelineRx, a leading clinical telepharmacy company.
"Our investment in PipelineRx is a testament to our commitment to investing in innovative solutions to help clients manage their workforce and patient care commitments in the wake of unprecedented changes in the healthcare environment. PipelineRx's telepharmacy offerings address significant healthcare access challenges in a cost-effective manner and increase the quality and safety of care delivered," said Susan Salka, AMN's President and CEO. "We look forward to working closely with PipelineRx to further its mission and identify ways that AMN can leverage our pharmacy staffing division and client relationships to create synergies for both companies."
PipelineRx offers telepharmacy services and technology solutions designed to help hospitals provide cost-efficient pharmacist coverage 24 hours a day with improved patient care. PipelineRx's Clinical Process Outsourcing (CPO) solution uses a private network of quality clinical telepharmacists to replicate and extend the same cognitive clinical roles and responsibilities of a hospital's onsite clinical pharmacists.
PipelineRx also offers its technology as a Software as a Service (SaaS) solutions platform to clients that prefer to use the PipelineRx workflow technology with the hospital's internal pharmacists. This proprietary technology platform optimizes pharmacy operations and labor, streamlines disparate processes, improves financial performance, and helps facilitate government mandates related to verification of electronic physician orders.
"We are pleased to be partnering with AMN Healthcare as we continue to expand the market for our telepharmacy solutions and grow our business in 2014 and beyond. AMN's investment validates our unique approach to improving efficiency in our healthcare system and to drive measurable and enhanced quality of care for patients through the use of cutting-edge technology," said Brian J. Roberts, President of PipelineRx. "With AMN's workforce solutions expertise and staffing services leadership, we look forward to what we can accomplish together to help hospitals achieve financial and patient care goals."
AMN has committed to a $5.0 million investment in staged payments. In conjunction with the investment, AMN also announced that Denise Jackson, General Counsel and Senior Vice President, has joined the PipelineRx Board of Directors. Ms. Jackson will serve as an advisor to the company, drawing upon her experience building AMN's corporate capabilities and nearly 15 years' experience in the healthcare staffing and workforce solutions industry.
PipelineRx is the leading independent technology-enabled telepharmacy solutions provider serving acute and specialty hospitals. The Company's pharmacy workforce solutions enable hospitals to dramatically increase operating efficiencies while ensuring medication efficacy, increasing patient safety, and improving clinical outcomes. PipelineRx differentiates its unique services via its integrated, private, cloud-based technology platform and its optimized, distributed telepharmacist network. PipelineRx is privately held and is headquartered in San Francisco, CA.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company based these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 and its other periodic reports as well as the Company's current and other reports filed from time to time with the Securities and Exchange Commission. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time.