Omnicell
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| Company type | Public |
|---|---|
| Industry | Health technology |
| Founded | September 1992 |
| Founder | Randall Lipps |
| Headquarters | Mountain View, CA, U.S. |
Key people | |
| Revenue |  US$1.15 billion (2023) |
| US$−35 million (2023) | |
| US$−20 million (2023) | |
| Total assets |  US$2.23 billion (2023) |
| Total equity | US$1.19 billion (2023) |
Number of employees | c. 3,650 (2023) |
| Website | omnicell |
| Footnotes / references [1] | |
Omnicell, Inc. is an American multinational healthcare technology company headquartered in Mountain View, CA. It manufactures automated systems for medication management in hospitals and other healthcare settings, and medication adherence packaging and patient engagement software used by retail pharmacies. Its products are sold under the brand names Omnicell and EnlivenHealth.
Company history
[edit]1992–1999
[edit]Omnicell Technologies, Inc. was founded in September 1992 by Randall A. Lipps after his daughter was hospitalized at birth and he observed nurses had difficulty locating medical supplies. With the help of graduate students from Stanford University, he developed a prototype of a system that automated inventory management tasks performed manually by nurses.[2]
With Lipps as the chairman of the company, it commercially began developing automated supply cabinets in 1993. The cabinets were capable of tracking transaction data, inventory levels, expenses, and patient billing. Sales figures reached $7.7 million by the end of 1995 and increased the following year to $21.5 million. The company expanded services by developing pharmacy automation systems for dispensing medications in 1996. They expanded their product line in 1999 by acquiring the SureMed line of pharmacy cabinets from Baxter Healthcare Corp.[2]
2000–2020
[edit]By the end of the 1990s, the company had installed more than 14,000 automated dispensing cabinets in more than 1,300 healthcare facilities, and sales grew to $50 million.[2] Omnicell went public in August 2001, changing the company’s name to Omnicell, Inc.[3]
In 2002 Lipps assumed the role of CEO, replacing Sheldon D. Asher. In 2003, Omnicell acquired BCX Technology, Inc., a maker of wireless, handheld bar-code scanners that could track pharmaceutical dispensation.[2] The company further expanded with more acquisitions. Its purchase of MTS Technologies added multiple-dose medication blister cards used by retail pharmacies to encourage medication adherence. The acquisition of Aesynt Inc. added pharmacy robots for inventory management, specialized IV compounding robots to remove human error, and pharmacy data intelligence software. The acquisition of Ateb, Inc., which provided patient engagement and patient communication systems to retail pharmacies, led to the formation of the EnlivenHealth business segment in 2020.[4][5]
Acquisitions and partnerships
[edit]- 2012 – MTS Medication Technologies, Inc., a global medication adherence packaging systems provider[6]
- 2014 – UK-based SurgiChem Limited, a wholly-owned subsidiary of Care Homes (CFG), for £12,000,000 in a cash transaction[7]
- 2015 – Germany-based Mach4 Pharma Systems, a robotic dispensing systems provider[8]
- 2015 – Partnered with Avantec for distribution of Omnicell products in UK[9]
- 2016 – Acquired medication technology company Aesynt Inc. for $275 million, adding central pharmacy dispensing robotics, IV compounding robotics, and pharmacy data analytics to the company’s services[10]
- 2016 – Acquired Ateb, Inc., together with its Canadian affiliate, Ateb Canada Ltd, providers of pharmacy-based patient care solutions and medication synchronization to independent and chain pharmacies[5]
- 2017 – InPharmics, a Mississippi-based technology and services company that provides advanced pharmacy informatics solutions to hospital pharmacies[11]
- 2020 – Acquired the 340B Link business of Pharmaceutical Strategies Group (PSG)[12]
- 2021 – Partnership with Guy’s and St Thomas’ NHS Foundation Trust, London to develop technology-enabled inventory optimization and intelligence services[13]
Finances
[edit] |
| Year | Revenue in mil. USD$ |
Net income in mil. USD$ |
EBITDA in mil. USD$ |
Total Assets in mil. USD$ |
Total Equity in mil. USD$ |
Price per Share in USD$ |
Employees |
|---|---|---|---|---|---|---|---|
| 2011 | 246 | 10 | 25 | 362 | 283 | 17 | |
| 2012 | 314 | 16 | 45 | 442 | 308 | 15 | |
| 2013 | 381 | 24 | 56 | 493 | 349 | 26 | |
| 2014 | 441 | 31 | 71 | 560 | 390 | 33 | |
| 2015 | 485 | 31 | 71 | 579 | 402 | 31 | |
| 2016 | 693 | 1 | 73 | 935 | 432 | 34 | |
| 2017 | 716 | 21 | 61 | 980 | 517 | 49 | 2372 |
| 2018 | 787 | 38 | 100 | 1081 | 680 | 61 | 2501 |
| 2019 | 897 | 61 | 142 | 1241 | 845 | 82 | 2698 |
| 2020 | 892 | 32 | 117 | 1825 | 968 | 120 | 2862 |
| 2021 | 1132 | 78 | 230 | 2142 | 1147 | 180 | 3800 |
References
[edit]- ^ "Omnicell, Inc. 2023 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. February 28, 2024.
- ^ a b c d "Profile - Omnicell, Inc". www.encyclopedia.com.
- ^ Staff (August 7, 2001). "Omnicell IPO up 36%". CNN Money.
- ^ Levy, Sandra (October 2, 2020). "Omnicell acquires Pharmaceutical Strategy Group's 340B software-enabled service business". Drug Store News.
- ^ a b Salazar, David (November 29, 2016). "Omnicell to acquire Ateb". Drug Store News.
- ^ Zacks Equity Research (May 29, 2012). "Omnicell Completes MTS Acquisition". Yahoo! Finance.
- ^ "Omnicell, Inc. Signs Agreement with Bupa Care Homes (CFG) plc to Acquire UK-Based SurgiChem Limited". Fierce Healthcare (Press release). Omnicell. December 9, 2013.
- ^ "Omnicell, Inc. Closes Acquisition of Germany-based MACH4 Pharma Systems" (Press release). Omnicell. April 24, 2015 – via news.thomasnet.com.
- ^ "Omnicell and AVANTEC Launch Europe's Largest Deployment of Automated Medical Supply Systems" (Press release). Omnicell. October 23, 2008 – via BioSpace.
- ^ Demaitre, Eugene (November 23, 2015). "Omnicell Buys Automated Pharmacy Firm Aesynt for $275M". Robotics Business Review.
- ^ "Omnicell Acquires InPharmics" (Press release). Omnicell. April 19, 2017 – via Pharmaceutical Processing World.
- ^ "Omnicell Completes Acquisition of Pharmaceutical Strategy Group's Leading 340B Software-Enabled Service Business" (Press release). Omnicell. October 1, 2020 – via Business Wire.
- ^ "Omnicell to Partner with Guy's and St Thomas' NHS Foundation Trust, London on Development of European Technology-Enabled Intelligence Centre as Part of Expansion of Omnicell Systems" (Press release). Omnicell. January 4, 2021 – via BioSpace.
External links
[edit]- Official website
- Business data for Omnicell, Inc.: