MEPS Real-Time Announces Fiscal Year Milestones and Intelliguard RFID Solutions Achievements; Strengthens Corporate Structure for Future Growth
Date: July 8, 2014
CARLSBAD, Calif.--(BUSINESS WIRE)--MEPS Real-Time, Inc., an innovator of RFID solutions for pharmacy automation and inventory management, has closed its fiscal year with strong business momentum driven by major technology advancements and a healthcare industry that is increasingly adopting RFID-enabled systems such as the company’s suite of Intelliguard® RFID Solutions. Intelliguard® RFID Solutions provide real-time visibility of high-value, critical dose medication inventory, reduce costs associated with manual, error-prone inventory tasks, and ensure that the right drugs in the right doses are delivered when and where they are needed.
MEPS Real-Time® achieved several notable achievements in the past year. To support its steady growth, the company has fortified its corporate management structure with key appointments adding strength to the company’s quality and regulatory, marketing, product development and client service capabilities. Additionally, MEPS Real-Time® expanded its North American sales team to leverage increasing demand.
The company’s suite of Intelliguard® RFID Solutions is on the leading edge of the change necessary to support increased efficiency, reduced costs and improved patient safety through optimized medication inventory levels; better tracking of missing, expired, soon-to-expire and recalled drugs; support and readiness for regulatory requirements; and faster and more accurate inventory replenishment.
“The sales momentum we are experiencing stems from three key factors – increasing demand for RFID-enabled pharmaceutical management systems, our steadfast focus on supporting pharmacies and pharmaceutical supply chain partners through advanced RFID technology, and our client-centered service model,” said Shariq Hussain, CEO, MEPS Real-Time, Inc. “As we enter a new fiscal year, we continue to earn clients with reliable, purpose-designed inventory systems and comprehensive client solutions encompassing hardware, software, on-site implementation and training, and on-going support.”
Notable Milestones in Fiscal Year 2014
- Business Partnerships
FFF Enterprises Inc., the nation’s largest distributor of plasma products, vaccines and other specialty pharmaceuticals, and biopharmaceuticals, selected the Intelliguard® Inventory Management System to power its new VERIFIED Inventory Program-Consignment (VIPc)™, which streamlines high-value medication inventory management while eliminating carrying costs for healthcare providers through a consignment-based model. MEPS Real-Time® became a Premier Partner with Impinj®, the leading provider of UHF RFID platforms across several industries, to integrate Impinj advanced Speedway readers (www.impinj.com/products/speedway) into its entire suite of Intelliguard® RFID Solutions to optimize tracking and real-time visibility of pharmaceutical inventory.
- New and Expanded Client Relationships
MEPS Real-Time® continues to expand its client base, closing its fiscal year 2014 with a strong sales momentum. Through direct sales and distribution partners, the company’s Intelliguard® RFID Solutions are contracted for over 100 units for use in hospital pharmacies across the country and Canada.
- Industry’s Smallest RFID Smart Tag for Healthcare
MEPS Real-Time® introduced the industry’s smallest RFID Smart Tag as part of its Intelliguard® Kit and Tray Management System. The Intelliguard® RFID Smart Tag is 65 percent smaller than any other RFID tag available to healthcare. Based on unanimous feedback from hospital anesthesiology and clinicians, the Intelliguard® RFID Smart Tag is easier to handle, less intrusive and alleviates the potential for medication to become stuck in automated and standard anesthesia carts.
- Intelliguard® Kit and Tray Management System Now Available in Multiple Sizes
Intelliguard® Kit and Tray Management System is now available in three spacing-saving sizes to fit the environmental space constraints of hospital pharmacies, satellite pharmacies and surgery centers while still inventorying more than 150 medications in seconds with 100 percent accuracy of identifying missing, expired, soon-to-expire and recalled medications.
Sharp Memorial Hospital in San Diego, Calif., showed significant improvements in accuracy and replenishment times of medication kits and trays in hospital settings. A Time and Motion study documented an average 80 percent reduction in replenishment times when using the Intelliguard® Kit and Tray Management System, and significant improvements in accuracy of identifying, removing and restocking expired, soon-to-expire and recalled medications.
- Building for the Future
Poised for continued growth, MEPS Real-Time® added several talented and tenured executives to its roster, and expanded its North American sales team:
The company promoted Paul Elizondo, who has been with the company since 2009, to Vice President, Engineering and Research and Development.
New appointments include Victor Liao, Director of Program Management, with more than 13 years of product management experience, who leads product development and optimization of all the Intelliguard® RFID Solutions. Leon Wong joins as Director of Product Implementation and Client Services, with 15 years of experience in pre- and post-sales roles. Leon manages the company’s pharmacy technician installation team, supporting the only kit checking solution in the industry to offer on-site implementation, tray conversion and staff training to support quick set-up and rapid time to value for clients.
The company also brought on Martin Dockter, Quality and Regulatory Manager, a 16-year veteran within the medical device industry, who is responsible for quality systems and product certifications. Valerie Fritz joins as Senior Director of Marketing, with more than 15 years of marketing experience in healthcare solutions, who will focus on developing and strengthening product marketing and communications strategies to support corporate growth.
Additionally, MEPS Real-Time® has hired several regional sales representatives to manage increasing demand for its products. The expanded sales team, led by industry sales leader Bill Haughton, Vice President of North American Sales, now includes representatives supporting clients in eight regions across the United States and Canada.
“This talented group of professionals adds nearly 60 years of combined experience to MEPS Real-Time® at a stage when we are seeing a significant growth,” said Hussain. “Last year was a watershed time period for MEPS® and our Intelliguard® RFID Solutions, and we are energized to build upon this momentum into 2015 with our innovation leading the way.”
About MEPS Real-Time, Inc. and Intelliguard® RFID Solutions for Critical Inventory™
Founded in 2006 and headquartered in Carlsbad, Calif., MEPS Real-Time, Inc. (mepsrealtime.com) is a leading innovator of Radio Frequency Identification (RFID) solutions for pharmacy automation and inventory management. Its suite of Intelliguard® RFID Solutions offers unprecedented real-time visibility of high-value, critical-dose drug inventory to reduce costs through inventory management and monitoring of expiration dates, NDCs, lot numbers and temperature; increase staff efficiency by eliminating manual counting and item-level scanning through automation; improve patient safety through medication error prevention; and enhance diversion prevention with embedded security features. Intelliguard® RFID Solutions include Medication Management, Inventory Management, and Kit and Tray Management Systems.
MEPS®, MEPS Real-Time® and Intelliguard® are registered trademarks and RFID Solutions for Critical Inventory is a trademark of MEPS Real-Time, Inc.