Hospira has sold its VeriScan medication-tracking operation to True Process, a drug-delivery software outfit based in Milwaukee, for an undisclosed amount.
The VeriScan system combines barcode tracking with radiofrequency identification (RFID) to check meds administered by nurses at the bedside against corresponding prescriptions entered in hospitals’ clinical information systems. The goal is to head off dosage and timing errors at the point of care, according to True Process.
True Process, which develops device-management systems primarily but not exclusively for healthcare, said it will continue to serve the established VeriScan customer base while looking to expand the system’s reach in settings such as oncology centers as well as “alternate site” markets.
The company noted that, according to the Institute of Medicine, medication errors affect 1.5 million people and add $3.5 billion to the cost of healthcare in the United States each year.
Hospira, formerly a division of Abbott Laboratories, is a $4 billion multinational headquartered in Lake Forest, Ill.