Use of innovative technology is expected to further increase quality and safety while driving efficiencies in clinical workflow
CareRx to deploy BD Rowa Dose medication packaging technology at its first high-volume pharmacy in Burlington. (Credit: Ulrike Leone from Pixabay)
CareRx Corporation, Canada’s leading provider of pharmacy services to seniors, today announced that it will be the first pharmacy in Canada to use the BD Rowa™ Dose medication packaging system from BD (Becton, Dickinson and Company) (NYSE: BDX), which will be the centerpiece technology at the Company’s new state-of-the-art high-volume fulfillment centre that is scheduled to be opened in Burlington, Ontario in the spring of 2022.
The BD Rowa™ Dose technology is a leading innovation for pharmacies and is one of the most advanced high-speed medication packaging technologies available in the market. After implementation, CareRx expects to generate additional operating efficiencies and enhance its operating margins.
CareRx will initially purchase two BD Rowa™ Dose medication packaging systems. BD Rowa™ Dose optimizes the high-volume dispensing of medications at speeds that exceed the capabilities of conventional packaging solutions currently utilized by CareRx and other institutional pharmacies throughout Canada. BD Rowa™ Dose’s innovative design and functionality allow for meaningfully higher prescription volumes without the need to add head count resources, while improving safety by reducing the likelihood of medication packaging errors and reducing waste.
“Our expanded footprint from recent acquisitions and organic growth has given us the scale that we have long sought and has enabled us to open high-volume fulfillment centres and adopt state-of-the-art technologies like BD Rowa™ Dose,” said David Murphy, President and Chief Executive Officer of CareRx. “BD Rowa™ Dose is currently being used by large institutional pharmacies in the United States and Europe, and we are proud to be the first pharmacy in Canada to utilize this exceptional technology. We expect BD Rowa™ Dose to help drive safety and quality improvements in our operations, free up pharmacist time to focus on resident-facing initiatives, and further enhance our service offering to our home operator partners and residents.”
“We share CareRx’s commitment to driving workflow efficiencies and improving safety in the medication management process across the care continuum,” said Ivy Parks, President of BD Canada. “The COVID-19 pandemic has further underscored the importance of providing vulnerable resident populations with high-quality and safe health care solutions. Implementing BD Rowa™ will enable our teams to work together to enhance CareRx processes, which will ultimately create better outcomes for the partners and residents they serve.”
The operational efficiencies expected to be realized from CareRx’s new high volume fulfillment centre and adoption of BD Rowa™ Dose are in addition to the synergies CareRx expects to generate following the acquisition of the long-term care pharmacy operations of Medical Pharmacies Group Limited on August 23, 2021 (the “MPGL LTC Pharmacy Business“). To date, CareRx has consolidated five pharmacy fulfillment centres and continues to expect the MPGL LTC Pharmacy Business to contribute run-rate annualized revenue of approximately $150 million and Adjusted EBITDA of $10 million to $12 million, as well as cost savings synergies of a minimum of $5 million, which is consistent with CareRx’s initial expectations.
Source: Company Press Release