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InfoLogix, Inc. Expands Intellectual Property Assets with Acquisition of Radio Frequency Identification (RFID) Patent Portfolio Company
Wednesday, April 11, 2007
Leading Mobile Intelligence Solutions Company Acquires RFID Medical Administration and Healthcare Technology Company
Hatboro, PA -- InfoLogix, Inc. (OTC Bulletin Board: IFLG), a leading provider of mobile intelligence technology solutions, announced today it acquired a cutting edge patent portfolio surrounding RFID technology that manages proper medication management and delivery. The acquisition strengthens InfoLogix's ability to extend the functionality of its Mobile Care Stations(TM) with automated medication tracking, in addition to complementing the capabilities of InfoLogix's RFID-based software systems, HealthTrax and BedCentral ED, which help manage workflow and locate clinicians, patients and assets in hospitals. To date, InfoLogix has delivered their software, services and infrastructure outsourcing solutions to over 1,100 hospitals in North America.
The patent portfolio -- purchased from DDMS Holdings, LLC ("DDMS") -- consists of five issued U.S. patents and 10 pending patent applications, and allows coverage to be extended to applications in more than 30 countries including China and Japan, as well as countries located in Europe and North America. InfoLogix believes the portfolio bolsters key innovations that it has developed and solidifies its position in the hospital RFID marketplace, which is predicted to reach $8.8 billion by 2010 according to industry analysts, as well as the global RFID marketplace, which is expected to exceed $26 billion by 2015.
"With this acquisition, InfoLogix is positioned to take on a larger share of the rapidly expanding RFID market," said David Gulian, President and CEO of InfoLogix, Inc. "We believe this portfolio is one of the best in the drug management category, and it strongly positions us to continue our commitment of providing IP based software and services to help hospitals reduce medical error and increase patient safety."
"This patent portfolio encompasses what we believe will become one of the most comprehensive in RFID based drug management systems," said Louis Heidelberger, co-founder of DDMS. "We chose InfoLogix as our merger partner because of their track record as an industry innovator, their leadership team and their growth trajectory."
"InfoLogix continues to be on the leading edge of providing solutions that enable the Digital Hospital of tomorrow," said Pete Musser, chairman of InfoLogix.
With this acquisition, InfoLogix plans to develop capabilities to allow doctors, patients and pharmaceutical companies to track, trace and monitor drug information down to the individual pill level throughout the supply chain. The patents cover technology that may place the RFID chip and antenna directly into the medication's container and can track the medication as well as sense various conditions inside and surrounding the container, including when a pill is removed and the container's exposure to heat, moisture or light. A signal would then be sent to a mobile RFID device, enabling doctors and other healthcare providers to monitor the dispensation of medication and better ensure compliance with label instructions in clinical trials, hospitals and patient self-dosing.
InfoLogix completed the acquisition through a merger with DDMS and entered into a consulting agreement with the inventors to provide consulting services related to the commercialization and development of the patent portfolio acquired by InfoLogix.
InfoLogix's rapidly growing portfolio of intellectual property now stands at 19 issued patents and 15 pending patent applications, primarily related to the wireless and mobile delivery of information.
About InfoLogix, Inc.
As the leading provider of mobile intelligence technology solutions, InfoLogix uses the industry's most advanced wireless information technology to increase the efficiency, accuracy, and transparency of complex business and clinical processes. With numerous patents, InfoLogix provides strategic consulting, business applications, wireless device and infrastructure, connectivity, and mobile managed services solutions to Fortune 1000 and healthcare clients including Merck and Company, King Pharmaceuticals, Kaiser Permanente, Endo Pharmaceuticals, Adventist Health, Universal Health Services, University of Pennsylvania Medical Center, and Stanford School of Medicine. Founded in 2001, and headquartered in suburban Philadelphia, PA, InfoLogix has been named the sixth fastest growing new business in the United States for the last three years by Entrepreneur Magazine. InfoLogix is a publicly-traded company (OTC Bulletin Board: IFLG). For more information, visit http://www.infologixsys.com.
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