Health care technology company Tabula Rasa HealthCare has announced that they’ve entered into a definitive agreement to purchase DoseMe. Based in Brisbane, Australia, DoseMe is the creator of DoseMeRx, a precision dosing tool designed to allow practitioners and pharmacists to provide more accurate doses of high-risk parenteral medications according to patients’ individual profiles. The acquisition builds upon Tabula Rasa’s existing medication safety capacities.
DoseMeRx is currently used in more than 100 medical centers and infusion providers around the world. The company reports that its software has significantly improved patient risk, mortality and patient outcomes in the hospitals and provider offices who utilize it. Following the acquisition, the precision dosing abilities of DoseMeRx will be added to Tabula Rasa’s existing Medication Risk Mitigation (MRM) capabilities. This merger of technologies is aimed at enhancing and improving the range of medication safety tools available to hospitals and their staff.
In acquiring DoseMeRx, Tabula Rasa is accelerating its attempts to address one of the biggest problems in American health care: adverse drug events. U.S. hospitals experience more than two million significant adverse drug events each year, and the total estimated cost of these events is $177 billion. That’s more than the cost of diabetic and cardiovascular care combined across the United States.
DoseMeRx seeks to combat this problem in a novel and individualized way. A significant challenge with prescribing the right dosage of any injectable medication is the varied responses that individual patients can have to drug therapy. The DoseMeRx software responds to this by building virtual models of patients designed around their pharmacokinetics, including the patient’s capacity to absorb, distribute, metabolize and remove therapeutic drugs. Based on this model, DoseMeRx can run simulations of the outcomes of different potential dosages, thereby pinpointing the optimal dose.
Tabula Rasa has said that they expect to close on the acquisition in the first quarter of next year using cash on hand and an existing credit facility. Following close, DoseMe will be integrated under the banner of Tabula Rasa’s CareVention HealthCare technology and service group.