Uniquely empowers customers to proactively
combat drug shortages and rising pharmacy costs through predictive
analytics and insights that support inventory management, clinical
utilization, and provide benchmarking so health systems can achieve
greater value through operating more effectively and
efficiently
SUGAR
LAND, Texas, July 25,
2024 /PRNewswire/ -- QuVa Pharma, Inc. ("QuVa"),
announced today the acquisition of LogicStream Health, Inc.
("LogicStream"), the Minneapolis,
MN, based SaaS software informatics platform providing
market-leading, cloud-based intelligence to healthcare system
pharmacies. LogicStream's machine learning and predictive analytics
generate differentiated insights needed for customers to solve
their most difficult problems, including addressing drug shortages.
LogicStream will operate as a wholly owned subsidiary of QuVa.
![(PRNewsfoto/QuVa Pharma, Inc.) (PRNewsfoto/QuVa Pharma, Inc.)](https://mma.prnewswire.com/media/525154/Quva_Pharma_Logo.jpg)
The combination establishes a progressive platform of integrated
healthcare solutions combining the national scale of QuVa's market
leading sterile compounding services and direct distribution
capabilities, with LogicStream's innovative clinical process
improvement pathways, drug shortage predictive analytics and
management workflow, and robust drug diversion detection expertise.
As QuVa is the largest 503B
Outsourcing company serving U.S. hospitals and health systems, the
combination offers QuVa's customers unparalleled support harnessing
data and insights through earlier detection and mitigation of drug
shortages, and efficient formulary management review and peer
health system benchmarking. Debt funding for the acquisition was
provided by funds managed by Blue Owl Capital.
"QuVa is singularly focused on solving our customers' pharmacy
concerns. We recognize that improving patient safety and
meaningful sustained expense reductions will deliver value creation
for health system pharmacies. The key to achieving this is
through the combination of smart data analytics and high quality
ready-to-administer medications," said Stuart Hinchen, QuVa co-founder and CEO. "As one
of the largest purchasers of sterile generic medications from
pharmaceutical companies in the country, our purchasing experiences
will greatly enrich the predictive analytics of LogicStream's core
drug shortage management solution. With over 3,000 hospitals and
ambulatory clinics as our customers, LogicStream's clinical
utilization product will be able to offer customers an opportunity
to compare and benchmark their formulary guidelines and management
activities with those of other health systems to understand best
practices," added Lynn Eschenbacher,
PharmD and Chief Pharmacy & Strategy Officer, and Mike Scouvart, Chief Commercial Officer.
LogicStream's solution leverages advanced AI models to
meticulously analyze vast clinical datasets and provide deep and
powerful insights into real-time drug utilization trends, emerging
and existing drug shortages, diversion behavior, and patient
outcomes to help health systems make informed and timely decisions,
reduce costs and improve compliance and outcomes.
"We focus every day at the intersection of technology and
healthcare and I believe this area has immense potential for
improving patient outcomes while simultaneously driving clinical,
financial and operational efficiencies," said Patrick Yoder, PharmD and Co-founder and CEO of
LogicStream. "Innovation isn't just a buzzword, it's the lifeline
that propels us forward to shape the future of healthcare delivery
and transform pharmacy management and operations for years to come.
My team and I are excited to join QuVa. We are committed to
the combination of the leading 503B
pharmacy services platform coupled with intelligent insights gained
from our models and software designed to drive real improvement and
generate stronger health system financial sustainability for health
system pharmacy partners."
For 503B product ordering
inquiries, please contact QuVa Customer Service at
888-339-0874 or via email at:
Customer.Service@QuVaPharma.com. For software and data services
inquiries, please contact LogicStream at 877-270-5795 or via
email at: sales@logic-stream.net.
About QuVa Pharma, Inc.
QuVa is a national, industry-leading, FDA registered
503B outsourcing services company
that provides hospitals with essential medications in
ready-to-administer injectable formats that are critical for
effective patient care. QuVa was purpose-built to change the
503B industry for the better and is
leading the way with its significant expertise in cGMPs and sterile
pharmaceutical manufacturing, and a focus on ensuring compliance
with the highest quality and safety standards so hospitals can more
confidently and reliably focus on patient care. While leading cGMP
processes, broad sterile-to-sterile product portfolio, and
expansive capacity of 300,000 sq. ft. across multiple facilities
are the foundation of our success, it is with customer-focused
services, transparency, and a patient-safety orientation that we
help hospitals better meet their patient care and operational
needs. For more information, please visit www.quvapharma.com
or follow QuVa on LinkedIn at
https://www.linkedin.com/company/quvapharma-inc-/.
About LogicStream Health, Inc.
LogicStream is trusted by a growing community of high-performing
healthcare providers and partners to generate clinical insights
from clinical data. The Company's cloud-based clinical intelligence
platform gathers, normalizes, and connects clinical data. It houses
years of experience in its automated processing, advanced
analytics, and machine learning. This platform serves as an
underpinning for the company's software-as-a-service (SaaS)
clinical insights, data services, and life science products. As a
result, customers reduce cost, improve outcomes, improve the supply
chain, and accelerate research and development. Customers are
generating millions of dollars in ROI from clinical intelligence
from the LogicStream platform. The professionals at LogicStream
work hard every day to improve health by precisely translating
clinical data into clinical intelligence. For more information,
visit our home page.
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SOURCE QuVa Pharma, Inc.