Tabula Rasa HealthCare, Inc., a healthcare technology company focused on advancing the field of medication safety, announced it has acquired Brisbane, Australia based DoseMe. DoseMe is the developer of DoseMeRx, an advanced precision dosing tool to help physicians and pharmacists accurately dose patients’ high-risk parenteral medications based on individual needs, resulting in significant improvements to mortality, risk, and patient outcomes. DoseMeRx’s precision dosing capabilities will now be combined with TRHC’s proprietary Medication Risk Mitigation (MRM) technologies in order to enhance and accelerate medication safety solutions available in the hospital setting.
Challenges of Precision Dosing
Every year, over 2 million serious adverse drug events occur in hospitals in the US alone, costing an estimated $177 billion – more than the total cost of cardiovascular or diabetic care across the US. Choosing the correct dose of an injectable medication, personalized for each patient, can be challenging because responses to drug therapy vary widely.
DoseMeRx Platform
Already available in over 100 hospitals and infusion providers worldwide, DoseMeRx works by creating a virtual model of each patient based on their specific pharmacokinetics, such as the patient’s ability to absorb, metabolize, distribute and eliminate a therapeutic drug. The virtual patient model is built within seconds and then DoseMeRx calculates an accurate individualized dose to reach their therapeutic target. Using this model, providers can also simulate potential outcomes of different dosing regimens to ensure you provide the best possible advice for every patient.
DoseMeRx uses Bayesian dosing to calculate a precise dose to achieve your clinical target. Studies have shown that this results in significant and substantial improvements to mortality, risk, and patient outcomes. In addition, DoseMeRx integrates seamlessly into major EHR platforms powered by SMART® and FHIR® technologies. Helping providers save time, reduce adverse drug events and improve patient outcomes, DoseMeRx can be rapidly deployed with minimal resources.
Financial Details
TRHC expects to fund the acquisition through cash on hand and cash from operations, and from the use of its existing credit facility. Following the completion of the acquisition, DoseMe will become part of TRHC’s CareVention HealthCare (“CareVention”) technology and service division. CareVention offers advanced data analytics, an integrated technology platform, and consulting services. TRHC expects the acquisition to close in the first quarter of 2019.
