Invistics’ Flowlytics solution utilises predictive analytics to identify illicit diversion of both controlled and non-controlled medications in patient care settings like ambulatory surgery centres and hospitals
Wolters Kluwer Health acquires Invistics Corporation. (Credit: National Cancer Institute on Unsplash)
Wolters Kluwer Health has inked and closed the deal to acquire Invistics and its Flowlytics software for an undisclosed sum.
US-based Invistics provides artificial intelligence (AI)-enabled software for drug diversion detection and controlled substance compliance.
Invistics’ Flowlytics solution utilises predictive analytics to identify illicit diversion of both controlled and non-controlled medications in patient care settings like ambulatory surgery centres and hospitals.
According to Wolters Kluwer Health, Flowlytics can quickly and precisely spot patterns of behaviour that suggests drug diversion by combining drug transactions from the point of purchase to the patient
Five-year research supported by the National Institutes of Health demonstrated that the software discovered instances of drug diversion more quickly and effectively than conventional methods.
Additionally, the technology supports diversion investigation, adjudication, reporting workflows, and detection.
Invistics, established in 1999, is expected to work with Wolters Kluwer Health’s Clinical Solutions division’s Clinical Surveillance, Compliance & Data Solutions division.
Wolters Kluwer Health Compliance & Data Solutions, Clinical Surveillance VP and general manager Karen Kobelski said: “Invistics’ advanced technology solution fits perfectly with our existing offerings, such as Simplifi+ and Sentri7, which help customers achieve optimal clinical outcomes and regulatory compliance.
“Our efforts to help health systems deploy effective pharmacy surveillance and compliance programs to reduce patient risk are further enhanced by incorporating the Invistics solution.”
The Dutch company anticipates that the purchase will generate a return on invested capital (ROIC) that is higher than its weighted average cost of capital (8%) within three-five years and that the transaction’s effect on adjusted earnings will be minimal.
Invistics founder and CEO Tom Knight said: “Invistics is recognized as a leader in innovative approaches for drug diversion detection and controlled substance compliance.
“We are excited to join Wolters Kluwer Health—our shared commitment to patient safety makes this a natural home for Invistics.”