Centice and NC Mutual Drug Company Partner to Bring Innovative Drug Verification Product to Retail Pharmacies
Newly-Launched PASS Rx Product Increases Patient Safety and Pharmacy Efficiency
MORRISVILLE, N.C., Oct 28, 2008 (BUSINESS WIRE) – Centice Corporation, a leader in drug verification technology, today announced a marketing collaboration agreement with North Carolina Mutual Wholesale Drug Company, or Mutual Drug, a cooperative owned and managed by over 450 member pharmacists throughout North Carolina, South Carolina, and Virginia. This collaboration will enable Mutual members priority to acquire Centice's PASS Rx(R) prescription authentication sensor system for their pharmacy operations while Centice scales up its manufacturing.
Today's retail pharmacies are under intense pressure to maintain quality and safety as prescription volumes continue to increase. Centice is the first and only company to bring to market a product, PASS Rx, which verifies the accuracy of dispensed prescription drugs in seconds at the pharmacist or technician work stations. For the first time, with PASS Rx, retail, hospital, and government pharmacies have the potential to substantially improve dispensing accuracy while automating the current subjective manual verification process.
"As independently-owned and operated pharmacies, our members are especially focused on the safety of patients as well as providing the best personal care possible," said Hal Harrison, Director of Purchasing, Mutual Drug. "Technology like this helps ensure patient safety and frees up the pharmacists' time, thus allowing them to get back to what they were trained to do."
PASS Rx is a compact instrument designed to fit the pharmacy countertop and is quick and simple to use. Centice updates its proprietary drug database to keep up with the ever-changing drug population.
"We are thrilled to be able to partner with Mutual to accelerate bringing this exciting new product to market," said Ray Swanson, president and CEO, Centice Corporation. "Most importantly, PASS Rx not only provides another line of safety, but it empowers pharmacists to provide the highest quality of healthcare."
Discounted pricing is being offered to member organizations through December 31st, 2008. An affordable and flexible leasing program is also available. Centice announced the launch of the PASS Rx product in August 2008 and since then two flagship pharmacies have already experienced success with a PASS Rx program.
About NC Mutual Wholesale Drug Company
In 1952, Mutual Drug was formed by independent pharmacists. The company's goal then, and now, is to provide services needed to ensure member stores' success. Their commitment to this success includes providing equal pricing, regardless of volume, as well as programs and services designed for the needs of an independent pharmacy. For more information, please visit www.mutualdrug.com.
About Centice Corporation
Centice, founded in 2004 and headquartered in RTP, NC, is commercializing patented and patent pending computational sensor and machine vision technology. The PASS Rx(TM) pharmaceutical authentication sensor system improves the verification process for dispensed medications, thereby increasing efficiency and optimizing workflow in the pharmacy. The company has received venture capital investments from The Aurora Funds, Inc., Novak Biddle Venture Partners, S-Group Direct Investments Ltd, and Innovation Ventures LP. More information on Centice can be found at http://www.centice.com.