Combined company provides best-in-class technologies to empower pharmacy teams to help patients lead healthier lives
LONGUEUIL, QC and DURHAM, N.C., July 6, 2021 /CNW/ -- Pharmacy automation provider Parata Systems, a portfolio company of Frazier Healthcare Partners, today announced the acquisition of Synergy Medical, a privately-held company that develops automation technologies to prepare and dispense solid oral medications in blister cards. This acquisition expands Parata's offering of innovative pharmacy automation technologies to further meet the needs of retail, hospital, long-term care, government and direct-to-home pharmacies.
Together, the combined company has installed over 6,000 systems in approximately 4,000 pharmacies, offering the broadest portfolio of automation solutions for pharmacies. In addition to these pharmacy automation technologies, the company will expand on their existing growth initiatives with central fill and inventory control systems to meet the broad needs of their pharmacy customers.
Jean Boutin, Founder and President of Synergy Medical, commented, "Both institutional caregivers, as well as our seniors who favor staying healthy at home, are looking for practical solutions that facilitate adherence to their therapeutic treatments. SynMed's proven technology, combined with that of Parata, facilitates large-scale deployment of adherence programs by our Pharmacy partners. The result is a variety of innovative solutions, well-suited to the needs of our aging population."
Rob Kill, CEO of Parata Systems, added, "Pharmacies in all care settings share the same need to reduce costs, improve health outcomes and enhance the patient experience. The addition of SynMed's best-in-class blister automation technology to Parata's best-in-class vial fill and pouch automation technologies allows us to meet the needs of our customers no matter the dispensing format. In addition, our unique central fill solution geared toward closed door, micro-fulfillment centers which are closest to the customer position us for accelerated growth."
Parata welcomes Synergy Medical's approximately 150 full-time team members. Synergy Medical will continue to operate in Longueuil, Quebec, with Jean Boutin serving as President.
About Synergy Medical
Synergy Medical is based in Longueuil, Quebec, and from 2008 has been designing, manufacturing and installing automated systems which allow pharmacies to efficiently and accurately prepare compliance packs. Synergy Medical has installed over 500 SynMed® XF and SynMed® ULTRA systems throughout North America and in Europe, in independent pharmacies as well as in centralized production facilities for pharmacy chains. The client list of this leader in automated dispensing already includes the largest pharmacy chains in Canada and the US. For more information, please go to www.synmedrx.com.
About Parata Systems
Parata provides pharmacy technology solutions to reduce costs, improve health outcomes and enhance the patient experience by offering the most comprehensive pharmacy automation portfolio with medication adherence packaging, high-speed robotic dispensing technologies and pharmacy workflow solutions. Discover how Parata powers pharmacies to help people lead healthier lives at parata.com.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. Frazier has invested in more than 200 companies with investments ranging from company creation and venture capital to buyouts of profitable middle market companies. The firm's Growth Buyout team invests in healthcare and pharmaceutical outsourced services, healthcare technology, provider practices and other related sectors. The Life Sciences team invests primarily in novel therapeutics that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA, and Menlo Park, CA, and invests broadly across the U.S., Canada and Europe.
SOURCE Parata Systems, LLC
Nigel Smith, [email protected], 781-308-3317, http://www.synmedrx.com, http://www.parata.com
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