Vocera® Acquires mVisum to Address Alarm Fatigue
SAN JOSE, Calif. - January 13, 2014 - Vocera Communications, Inc. (NYSE: VCRA), the leading provider of integrated, intelligent communication solutions for mission-critical mobile environments, today announced its acquisition of mVisum, an innovative provider of alarm management technology solutions for health systems.
"The acquisition of mVisum is another step in our strategic roadmap to solve one of healthcare's biggest challenges: communication," stated Brent Lang, president and CEO of Vocera. "Communication breakdowns caused by alarm fatigue have become a top patient safety concern and a regulatory priority. mVisum's alarm management technology instantly delivers data to clinical decision makers and complements our secure, mobile communication solutions to help improve patient care, safety and satisfaction."
"We are thrilled to be joining Vocera, the recognized leader in the mobile, clinical communications market," said Praveen Dala, CEO of mVisum. "The strategic vision of both companies is to improve and streamline communications in hospitals and healthcare systems and we are excited by the impact that our combined technology portfolios and talent will have on our customers."
Alarm fatigue is a growing problem in hospitals by which the large volume of machine chirps and beeps are desensitizing clinicians to the crisis situation that any one alarm could be indicating. Due to the patient safety risks associated with alarm fatigue, The Joint Commission approved a new National Patient Safety Goal on clinical alarm safety (NPSG.06.01.01), effective January 2014. mVisum's medical device alarm management platform helps reduce "alarm fatigue" by offering a closed-loop secondary alarm notification system with audio-visual cues and contextual data, like ECG waveforms, to clinicians via smartphones and other devices. The software has received 510(k) clearance from the U.S. Food and Drug Administration as a Class II medical device. mVisum is also compliant with the FDA's new requirements for mobile medical apps. Vocera plans to include the mVisum platform in its broad portfolio of integrated, intelligent communication solutions that are already sold into over 850 healthcare customers worldwide.
mVisum's unique alarm presentation technology acts as a secondary alarm notification system and provides clinical context, including waveforms, like ECGs, and vital signs, offering decision support and insight into the criticality of every alarm. The Alert Alarm Management System uses patented push notification technology to connect with and distribute data from almost any hospital alarm-generating device. Configurable dashboards allow users to monitor alarms and alarm responses at the floor, nurse and individual bed levels. In addition, mVisum's suite of connected care solutions delivers patient details to physicians and specialists without delay, automatically - anytime, anywhere, on almost any smart device. For more information, visit www.mvisum.com.
The mVisum transaction is an asset purchase, valued at $3.5 million, and closed on January 13, 2014. Vocera expects nominal incremental revenue this year, and for the transaction to be slightly dilutive to 2014 earnings. As revenue ramps in 2015, the company expects it to become accretive to earnings.
Forward Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the U.S. federal securities laws, including statements regarding future events, such as our expected operating results for 2014 or future years, the future financial performance of our company and the effect macroeconomic conditions affecting the health care industry will have on our business and results of operations. These forward-looking statements are based on limited information currently available to us and our management`s expectations, which are inherently subject to change and involve a number of risks and uncertainties. Actual events or results may differ materially from those in any forward-looking statement due to various factors, including but not limited to, the effects of recently enacted U.S. healthcare reform; the effects on government hospital customers of the sequester and budgetary uncertainty; our ability to maintain profitability; the demand for our Voice Communication solution in the healthcare market; our lengthy and unpredictable sales cycle; our ability to offer high-quality services and support for our solutions; to acquire the sole and limited source hardware and software components of our solutions; to obtain the required capacity and product quality from our contract manufacturer; to develop and introduce new solutions and features to existing solutions and to manage our growth; and the other factors described in our Annual Report on Form 10-K for 2012, most recently filed Quarterly Report on Form 10-Q and our other filings with the SEC. Our filings with the Securities and Exchange Commission ("SEC") are available on the Investors section of our company`s web site at www.vocera.com. This press release speaks only as of its date. We assume no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual events or results could differ materially from those anticipated in forward-looking statements.
Vocera empowers integrated, intelligent communication for mission-critical mobile environments in healthcare, hospitality, energy, retail, education and more. One of the fastest growing mobile technology companies, Vocera is widely recognized for developing smarter ways to communicate that improve patient and customer satisfaction. Exclusively endorsed by the American Hospital Association, Vocera® Voice Communication, Secure Messaging, and Care Experience solutions are installed in more than 1,000 organizations worldwide. Vocera is headquartered in San Jose, Calif., with offices in Tennessee, Canada, and the United Kingdom. For more information, visit www.vocera.com and @VoceraCom on Twitter.
Vocera® is a trademark of Vocera Communications, Inc. registered in the United States and other jurisdictions. All other trademarks appearing in this release are the property of their respective owners.
Vocera empowers people in mission-critical environments to instantly connect via secure, mobile, integrated and intelligent communication solutions.