HealthEdge Completes Investment in Medicine‐On‐Time
TAMPA, FLORIDA – July 30, 2015 – HealthEdge Investment Partners announced today that together with Brook Venture Partners it has completed an investment in Multi‐Comp, Inc. d/b/a Medicine‐On‐ Time (“MOT” or the “Company”), its seventh portfolio company in HealthEdge Investment Fund II.
Medicine‐On‐Time is a leading provider of medication and prescription management solutions typically utilized by patients taking multiple prescriptions. The Company’s easy to use multi‐dose packaging system is primarily sold through independent pharmacies located across the United States. MOT’s “calendar card” blister pack system promotes a high level of patient adherence to prescribed medication regimens, saving costs for the healthcare system by helping to lower hospital and nursing home readmissions while improving quality of life for patients. The Company’s comprehensive solution also includes software to synchronize medications and streamline workflow to efficiently manage these prescriptions.
John Kalvelage, founder and President of Medicine‐On‐Time, remarked “As the founder of MOT and long term advocate of compliance packaging and medication adherence solutions, I am thrilled to add new partners and energy to the MOT team, and I am more passionate than ever about our mission and our opportunity to bring significant value to this important healthcare challenge. It’s all about improving the lives of patients and their families by providing simple, convenient, and cost effective solutions.”
Simultaneous with this new investment, Guy Bryant, HealthEdge Operating Partner and longtime pharmaceutical services industry veteran, has joined MOT as CEO. HealthEdge Managing Partner Phil Dingle said, “John and his team’s passion for addressing the current challenge of medication adherence is evident in the evolution of the product offering and long standing customer relations dating back to the Company’s founding over 25 years ago. We are thrilled about our long‐time operating partner Guy Bryant’s role and the collaboration with Brook Venture Partners to continue to grow this great business.”
Brennan Mulcahey, Principal at Brook Venture Partners said, “We are excited about the investment in MOT, as the Company has built a highly effective adherence solution that is truly helping individuals and the pharmacies that support them. Medication adherence is one of the biggest issues in healthcare today and MOT has the opportunity to make a huge impact on those taking complex drug therapies.”
Charles Davis, also with HealthEdge, added, “Cost management is a driving trend in the U.S. healthcare market and, with medication non‐adherence resulting in roughly 100,000 unnecessary deaths and over $290 billion in avoidable annual spending, MOT’s medication adherence tools offer a win‐win solution to all parties involved in the administration and consumption of complex drug therapies. Medicine‐On‐ Time is a pioneer in medication compliance packaging, and we are excited to partner with John and his team.”
This investment enhances MOT’s growth opportunities by bringing together its superior and evolving product offering with HealthEdge and Brook’s industry experience, network, and resources.
Medicine‐On‐Time is a national provider of compliance packaging and technology solutions to retail and closed door pharmacies, especially those serving elder care facilities, homebound patients, patients with chronic conditions, and independent seniors. Additional information can be found at www.Medicine‐ On‐Time.com.
About HealthEdge Investment Partners
HealthEdge is an operating‐oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
About Brook Venture Partners
Brook provides expansion stage capital to Information Technology and Healthcare IT companies located in the eastern United States. The firm focuses on both financing and providing the strategic planning and support necessary to effectively manage growth. Brook is headquartered outside Boston in Wakefield, MA. For more information visit www.brookventure.com.
For more information, please contact Charles Davis at HealthEdge Investment Partners at (813)490‐7100.