QuVa Pharma Completes Acquisition of LogicStream Health Combination Creates Integrated Platform of Compounded Medications, Distribution Services, and AI-Powered Data Solutions
Uniquely empowers customers to proactively combat drug shortages and rising pharmacy costs through predictive analytics and insights that support inventory management, clinical utilization, and provide benchmarking so health systems can achieve greater value through operating more effectively and efficiently
SUGAR LAND, Texas, July 25, 2024 /PRNewswire/ — QuVa Pharma, Inc. (“QuVa”), announced today the acquisition of LogicStream Health, Inc. (“LogicStream”), the Minneapolis, MN, based SaaS software informatics platform providing market-leading, cloud-based intelligence to healthcare system pharmacies. LogicStream’s machine learning and predictive analytics generate differentiated insights needed for customers to solve their most difficult problems, including addressing drug shortages. LogicStream will operate as a wholly owned subsidiary of QuVa.
The combination establishes a progressive platform of integrated healthcare solutions combining the national scale of QuVa’s market leading sterile compounding services and direct distribution capabilities, with LogicStream’s innovative clinical process improvement pathways, drug shortage predictive analytics and management workflow, and robust drug diversion detection expertise. As QuVa is the largest 503B Outsourcing company serving U.S. hospitals and health systems, the combination offers QuVa’s customers unparalleled support harnessing data and insights through earlier detection and mitigation of drug shortages, and efficient formulary management review and peer health system benchmarking. Debt funding for the acquisition was provided by funds managed by Blue Owl Capital.
“QuVa is singularly focused on solving our customers’ pharmacy concerns. We recognize that improving patient safety and meaningful sustained expense reductions will deliver value creation for health system pharmacies. The key to achieving this is through the combination of smart data analytics and high quality ready-to-administer medications,” said Stuart Hinchen, QuVa co-founder and CEO. “As one of the largest purchasers of sterile generic medications from pharmaceutical companies in the country, our purchasing experiences will greatly enrich the predictive analytics of LogicStream’s core drug shortage management solution. With over 3,000 hospitals and ambulatory clinics as our customers, LogicStream’s clinical utilization product will be able to offer customers an opportunity to compare and benchmark their formulary guidelines and management activities with those of other health systems to understand best practices,” added Lynn Eschenbacher, PharmD and Chief Pharmacy & Strategy Officer, and Mike Scouvart, Chief Commercial Officer.
LogicStream’s solution leverages advanced AI models to meticulously analyze vast clinical datasets and provide deep and powerful insights into real-time drug utilization trends, emerging and existing drug shortages, diversion behavior, and patient outcomes to help health systems make informed and timely decisions, reduce costs and improve compliance and outcomes.
“We focus every day at the intersection of technology and healthcare and I believe this area has immense potential for improving patient outcomes while simultaneously driving clinical, financial and operational efficiencies,” said Patrick Yoder, PharmD and Co-founder and CEO of LogicStream. “Innovation isn’t just a buzzword, it’s the lifeline that propels us forward to shape the future of healthcare delivery and transform pharmacy management and operations for years to come. My team and I are excited to join QuVa. We are committed to the combination of the leading 503B pharmacy services platform coupled with intelligent insights gained from our models and software designed to drive real improvement and generate stronger health system financial sustainability for health system pharmacy partners.”
For 503B product ordering inquiries, please contact QuVa Customer Service at 888-339-0874 or via email at: Customer.Service@QuVaPharma.com. For software and data services inquiries, please contact LogicStream at 877-270-5795 or via email at: sales@logic-stream.net.
About QuVa Pharma, Inc.
QuVa is a national, industry-leading, FDA registered 503B outsourcing services company that provides hospitals with essential medications in ready-to-administer injectable formats that are critical for effective patient care. QuVa was purpose-built to change the 503B industry for the better and is leading the way with its significant expertise in cGMPs and sterile pharmaceutical manufacturing, and a focus on ensuring compliance with the highest quality and safety standards so hospitals can more confidently and reliably focus on patient care. While leading cGMP processes, broad sterile-to-sterile product portfolio, and expansive capacity of 300,000 sq. ft. across multiple facilities are the foundation of our success, it is with customer-focused services, transparency, and a patient-safety orientation that we help hospitals better meet their patient care and operational needs. For more information, please visit www.quvapharma.com or follow QuVa on LinkedIn at https://www.linkedin.com/company/quvapharma-inc-/.
About LogicStream Health, Inc.
LogicStream is trusted by a growing community of high-performing healthcare providers and partners to generate clinical insights from clinical data. The Company’s cloud-based clinical intelligence platform gathers, normalizes, and connects clinical data. It houses years of experience in its automated processing, advanced analytics, and machine learning. This platform serves as an underpinning for the company’s software-as-a-service (SaaS) clinical insights, data services, and life science products. As a result, customers reduce cost, improve outcomes, improve the supply chain, and accelerate research and development. Customers are generating millions of dollars in ROI from clinical intelligence from the LogicStream platform. The professionals at LogicStream work hard every day to improve health by precisely translating clinical data into clinical intelligence. For more information, visit our home page.
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SOURCE QuVa Pharma, Inc.
