Bioscape Digital, a leader in innovation and development of patient engagement platforms, today announced it will acquire Chattanooga-based Picture Rx, LLC, an industry leader in the development of intuitive patient-centric medication tools. The addition of PictureRx's industry relationships and expertise in medication management will accelerate Bioscape's broader strategy to enable seamless integration of tablet-based technology into a better patient experience, it was stated.
Officials said, "This acquisition will help solidify Bioscape as the patient engagement platform of the future, optimizing healthcare for all key stakeholders: the patient, the provider and the health system. PictureRx's founders will remain active participants in Bioscape to support both the strategic vision of Bioscape and the execution of medication-specific tools and technologies."
The combined entity will be headquartered in Atlanta with an office in Tennessee.
Stuart Bracken, chief executive officer of Bioscape Digital, said, "The acquisition of PictureRx is a milestone for Bioscape. PictureRx's technology and subject matter experts will accelerate the development of our visionary platform. As a result, Bioscape will re-empower both patient and provider, while at the same time, saving the healthcare system millions of dollars."
Sheila Boyington, co-founder of PictureRx, said, "We are excited to enter into this acquisition to provide PictureRx with a pathway to grow to its full potential. Garnering over $2 million in NIH grants has allowed us to develop PictureRx into a dynamic technology for improving patient health. When combined with Bioscape's innovate healthcare platform, we will be able to provide health systems an unbeatable complete solution for medication and healthcare information delivery."
Founded in 2007, PictureRx was inspired by the many patients who have difficulty taking their medicines correctly, and by their friends and family members who try to help them. PictureRx grew out of research which proves that using pictures helps both children and adults remember what medicines to take, what they are for, and how to take them. PictureRx is one of the few medication aids tested in clinical research studies. Four out of five patients said PictureRx helped them keep up with their medicines. Among many other accolades, PictureRx was recently awarded a Phase II SBIR Contract to improve Medication Safety.
Founded in 2012, Bioscape Digital is a patient engagement service enabler that delivers relevant information into health systems utilizing tablet based technology. With Bioscape, patients are empowered to engage in their health, providers are enabled to practice medicine more effectively and health systems are elevated to the next level in quality of care. Bioscape recently earned finalist recognition for the 2013 Intel Innovation Awards.