True Process Acquires VeriScan from Hospira
Milwaukee, Wisconsin—True Process, Inc., a Milwaukee, Wisconsin, healthcare information technology services provider and software engineering firm, has purchased VeriScan from Hospira, Inc., the world’s leading provider of injectable drugs and infusion technologies.
Privately held True Process develops software and provides electronic device management products, systems, and implementation / integration services — primarily for the healthcare industry — covering intravenous pumps, delivery systems, training programs, and more. True Process is focused on delivering medications in a safe, efficient manner.
VeriScan uses both bar code point-of-care (BPOC) and radio frequency identification (RFID) technologies to verify and track medication administered directly at the patient’s bedside. VeriScan compares patient and medication data with the physician’s order in the hospital’s clinical information system to ensure a correct match. The goal is to reduce and prevent medication errors at the point of care. The VeriScan system validates the nurse is administering the right medication, in the right dose, at the right time via the right route to the right patient.
True Process President and Founder Todd Dunsirn said in a statement that the purchase of VeriScan was made as a natural extension of our commitment to the safe delivery of medications. According to the Institute of Medicine (IOM), medication errors impact 1.5 million people and add $3.5 billion to the cost of healthcare in the United States each year. True Process will continue to serve the established VeriScan customer base, as well as look for opportunities, such as alternate site and oncology markets, to expand VeriScan’s capabilities in niche markets.
The acquisition of VeriScan was completed in November 2011. True Process anticipates that the VeriScan product line will open doors to other opportunities and broaden its experience improving patient safety.
True Process, Inc. is a two-time Metropolitan Milwaukee Association of Commerce (MMAC) Council of Small Business Executives (COSBE) FUTURE 50 Award winner — and on the INC. Magazine 500 list at #1069, up from #1218 in 2010.
Financial details of the agreement were not disclosed.
About True Process
True Process is a privately held healthcare IT engineering firm headquartered in the Milwaukee area. The company is a software engineering firm using the most current technologies and tools offering in-depth knowledge and experience with integrations, installations, and continued service support. True Process builds strategic partnerships and is equally invested in the outcomes as our strategic partners. True Process has a distinguished record of providing services to global manufacturers and world renowned health care systems. For more information, visit www.trueprocess.com.