Optimus HealthCare Services Completes Acquisition of AdhereRx, d/b/a PainScript
Optimus Healthcare Services, Inc. (HOPS) has successfully acquired AdhereRx, operating as PainScript, in a transaction valued at approximately $4.5 million as of March 24, 2021. CEO Dan Cohen will continue to lead PainScript while taking on the role of President at Optimus. This acquisition aims to enhance Optimus's portfolio in telehealth and chronic care compliance, particularly for Substance Use Disorder patients. The PainScript platform is currently in a beta phase and aims to formally launch its commercial version in the second half of 2021.
- Acquisition valued at approximately $4.5 million enhances Optimus's portfolio.
- Dan Cohen remains CEO of PainScript and becomes President of Optimus, ensuring leadership continuity.
- PainScript's platform designed to improve chronic care compliance, targeting Substance Use Disorder, has strong market potential.
- Launch of the PainScript telehealth platform is expected in the second half of 2021, with a focus on multiple chronic care areas.
- Current platform is in beta phase, indicating potential risks until commercial launch.
- Integration of PainScript into Optimus's operations may present challenges.
Retains PainScript CEO Dan Cohen/Names HOPS President
NEW YORK, NY / ACCESSWIRE / March 25, 2021 / Optimus Healthcare Services, Inc. ("Optimus") (OTC PINK:HOPS), announced today that it has completed the acquisition of AdhereRx, d/b/a PainScript, a SaaS-based, Telehealth/Chronic Care Compliance platform company ("PainScript") in a transaction valued at approximately
In addition to the acquisition of PainScript, Kenneth Orr, Executive Chair of Optimus, announced that long-time healthcare industry executive Dan Cohen will continue as the PainScript CEO and that Mr. Cohen will assume further responsibilities as the President of Optimus.
"The agreement we reached today to acquire PainScript is another milestone in the Optimus strategy to bring best-in-class health technologies in-house as portfolio companies," said Kenneth Orr, Executive Chair of Optimus. "We believe the PainScript platform to provide a more effective chronic care compliance treatment for Substance Use Disorder (SUD) patients has the potential to be transformational."
"In addition, the PainScript telehealth platform and its ability to adapt its platform to other chronic care patients needs in areas such as pain management, bariatrics and similar disease treatments is a unique approach that will lead to better patient care and better health outcomes," added Mr. Orr. "PainScript will be the first company to join our newly formed telehealth and medication compliance division, to be known as Telehealth Adherence and Compliance Technologies or TACT."
"Today's acquisition represents a validation of the vision of our founder, Dr. Bruce Kehr, to use technology as a foundation to improve a chronic care patient's treatment and offer the hope of a better health outcome. The financial backing of Optimus will allow us to more quickly bring our SaaS telehealth product to physicians and the patients they treat," said Dan Cohen, PainScript CEO and Optimus President. "In addition, the vision of Kenny Orr to bring health-related businesses together under one roof is a model that, I believe, will lead to better healthcare and better value for the consumer. I look forward to leading the Optimus effort with Kenny and Marc Wiener."
The PainScript platform Minimally Viable Product (MVP) application is currently in a Beta-phase test to improve the user experience in advance of the anticipated of launching the commercial version of the application in the second half of 2021. The initial focus will be substance use disorder patients under psychiatric care and is anticipated to move into other chronic care treatment areas including pain management.
"With this acquisition, Optimus has added an important element to our growth strategy," said Marc Wiener, Optimus CEO. "PainScript represents the best of new technologies and is a company that will help buildout our growing platform portfolio."
About Optimus
Optimus will focus on acquiring controlling interests in healthcare-related businesses. Optimus has filed for a name change to Optimus Healthcare Services, Inc. and it is pending FINRA (Financial Industry Regulatory Authority) approval.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of Optimus Healthcare Services, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Optimus Healthcare Services, Inc. cautions you that any forward-looking information provided by or on behalf of Optimus Healthcare Services, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Optimus Healthcare Services, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Optimus Healthcare Services, Inc.'s control. In addition to those discussed in Optimus Healthcare Services, Inc.'s press releases, public filings, and statements by Optimus Healthcare Services, Inc.'s management, including, but not limited to, Optimus Healthcare Services, Inc.'s estimate of the sufficiency of its existing capital resources, Optimus Healthcare Services, Inc.'s ability to raise additional capital to fund future operations, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Optimus Healthcare Services, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Optimus Healthcare Services, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
About PainScript
PainScript's (www.painscript.com) medical treatment compliance platform, which is focused on creating a personalized pathway to support chronic care management (CCM) interventions for patients suffering from opioid and other substance use disorders (SUD). The platform is a technology based clinically validated (9-separate published and peer-reviewed clinical trials) protocols. PainScript's approach is very accessible and user-friendly via a digital platform to provide the physician and patients daily, evidence-based telehealth monitoring interventions designed to effectively improve patient compliance with treatment protocols, leading to better health outcomes and a reduction in related healthcare costs.
The platform uses daily contact between scheduled therapy treatments as the evidence demonstrates greater adherence to clinical protocols that, in turn, leads to an improved health benefit. The PainScript platform is designed with a HIPAA compliant, "concierge medicine" approach, allowing for real-time doctor-patient interactions, remote monitoring and communication, appointment scheduling and an early warning of treatment complications. Near-term additions to the platform include AI/ML analysis and Electronic Healthcare Record (EHR) transcription.
CONTACT:
Optimus HealthCare Services, Inc
Marc Wiener, CEO
mwiener@researchcra.com
516-669-6555
PainScript
Dan Cohen, CEO
dlc@painscript.com
202-329-1825
SOURCE: Optimus Healthcare Services, Inc.
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FAQ
What is the acquisition value of PainScript by Optimus Healthcare Services?
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