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Omnicell Inc. (OMCL) is a pioneering company that has been enhancing efficiencies in healthcare since 1992. As a leading supplier of comprehensive automation and business analytics software, Omnicell focuses on patient-centric medication and supply management across the entire healthcare continuum. This includes acute care hospital settings, post-acute skilled nursing and long-term care facilities, as well as home care settings.
Omnicell's automated hardware/software systems for medication dispensing provide seamless solutions from the point of hospital entry to the central pharmacy, nursing units, operating rooms, and patient bedsides. Their supply management systems are designed to promote cost control, ensure charge capture for payer reimbursement, and facilitate efficient inventory management and reordering.
Omnicell's range of products includes high-security, closed-cabinet systems, open-shelf systems, and combination systems that are used in nursing units, cath labs, and operating rooms. These solutions empower pharmacists and nurses to concentrate on patient care rather than administrative tasks, driving improved clinical, operational, and financial outcomes across diverse care settings. With over 3,200 customers worldwide, Omnicell continues to be a trusted partner in the healthcare sector.
In recent years, Omnicell has made significant strides in advancing their technology and expanding their service offerings. Their commitment to innovation is evident in the development of new products and partnerships that aim to further streamline medication management processes. Financially, the company generates the majority of its revenue in the United States, reflecting a strong market presence and consistent performance.
Omnicell reported Q3 2021 revenues of $296 million, a 38.7% year-over-year increase, with net income of $29 million or $0.61 per share. For the nine months, total revenues reached $821 million, up 27.7%. Non-GAAP results showed similar trends with net income of $49.9 million or $1.08 per diluted share. The company expects Q4 2021 revenues between $308-313 million, driven by strong commercial momentum and the acquisition of FDS Amplicare, which enhances its SaaS offerings for pharmacies.
Omnicell, Inc. (NASDAQ: OMCL) will report its third-quarter 2021 financial results on November 2, 2021, before market open. A conference call is scheduled for 8:30 a.m. ET the same day to discuss these results. As a leader in medication management solutions, Omnicell aims to enhance pharmacy care delivery through automation and technology. The company has over 7,000 facilities utilizing its solutions to improve operational efficiency, patient safety, and adherence to prescriptions.
On October 6, 2021, FDS Amplicare announced a webinar aimed at helping pharmacists assist patients in selecting appropriate Medicare plans during the open enrollment period from October 15 to December 7. Hosted by Nathan Shanor, the webinar emphasizes utilizing online tools and collaboration with licensed insurance agents to ease the enrollment process. FDS Amplicare, recently acquired by Omnicell (OMCL), enhances pharmacists' capabilities with its Match solution, empowering them to provide informed plan choices to seniors. For more details, visit FDS Amplicare's website.
Omnicell has announced the acquisition of FDS Amplicare for $177 million, enhancing its EnlivenHealth division with advanced SaaS financial management and analytics solutions. This acquisition integrates FDS Amplicare's tools into Omnicell's offerings, aimed at reducing DIR fees for retail pharmacies. The deal is expected to be immediately accretive to Omnicell's non-GAAP EBITDA and earnings per share, leveraging a network of over 15,000 independent pharmacies.
Omnicell (NASDAQ:OMCL) has opened a new software development center in Bangalore, India, enhancing its cloud-based solutions for healthcare. This center aims to innovate products supporting the Autonomous Pharmacy strategy, which integrates pharmacy systems into a single cloud platform. Led by Ved Singh, who has over 24 years of experience, this initiative seeks to improve efficiency, reduce costs, and enhance patient outcomes. Omnicell continues to advance its mission of transforming medication management through intelligent technology.
Omnicell, Inc. (Nasdaq:OMCL) announced its Summer 2021 Release, enhancing its medication management solutions to improve efficiency, expand automation, and provide better intelligence for healthcare workflows. Key features include improved operating room workflows, decentralized IV compounding, enhanced controlled substance management, and advanced inventory optimization through Omnicell One. This release aims to help healthcare partners maximize technology investments and leverage cloud technology for better scalability. The effort aligns with Omnicell's goal of progressing towards an Autonomous Pharmacy.
Omnicell, Inc. (Nasdaq: OMCL) has announced a partnership with Spartanburg Regional Healthcare System to implement its medication management platform, aiming for enhanced efficiency and safety. The collaboration includes Omnicell’s Central Pharmacy Dispensing and IV Compounding Services, powered by the Omnicell One™ cloud-based intelligence service. This technology aims to improve inventory visibility and reduce medication errors, waste, and costs. Spartanburg Regional is part of nearly 50% of the Top 300 U.S. health systems that are working with Omnicell towards achieving a fully autonomous pharmacy.
Omnicell (NASDAQ:OMCL) reported a strong second quarter for 2021, with total revenues of $272.7 million, up 36.6% from the previous year. GAAP net income surged to $20.4 million ($0.43 per diluted share), compared to a net loss in Q2 2020. Non-GAAP net income also rose significantly to $44.1 million ($0.97 per diluted share). The company expects Q3 2021 revenues between $281 million and $286 million and projects total 2021 revenues to range from $1.100 billion to $1.115 billion, reflecting strong demand and plans for acquisitions.
Omnicell (NASDAQ:OMCL) has announced a definitive agreement to acquire FDS Amplicare for $177 million. This acquisition aims to enhance Omnicell's EnlivenHealth division by integrating a suite of financial management, analytics, and population health solutions. The deal is anticipated to broaden Omnicell’s service offerings, allowing pharmacies to improve patient outcomes and expand clinical services. The acquisition, subject to regulatory approvals, is expected to close in the second half of 2021 and will be immediately accretive to Omnicell's non-GAAP earnings.
Omnicell has expanded its Board of Directors from 9 to 10 members with the appointment of Edward P. Bousa as an independent director. Mr. Bousa, a former executive at Wellington Management Company, brings nearly 40 years of asset management experience, including significant expertise in healthcare investments. His addition is part of Omnicell's strategy to refresh its board, enhancing its governance capabilities with a focus on improving health outcomes and operational efficiencies in medication management. The board now features 8 independent directors.
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