Wolters Kluwer Health has acquired Invistics Corporation, a U.S.-based provider of cloud-based software for drug diversion detection and controlled substance compliance. Invistics’ solution, Flowlytics, uses AI and predictive analytics to identify patterns of behavior consistent with drug diversion in healthcare settings. Drug diversion is a significant challenge in the U.S. healthcare system. The acquisition is expected to have a positive impact on Wolters Kluwer Health’s return on investment and will be integrated into its Clinical Surveillance, Compliance & Data Solutions unit.
What You Should Know:
- Wolters Kluwer Health today announced the acquisition of Invistics Corporation (Invistics), a U.S.-based provider of cloud-based, AI-enabled software for drug diversion detection and controlled substance compliance. Invistics will join the company’s Clinical Surveillance, Compliance & Data Solutions unit, part of Clinical Solutions. Financial details of the acquisition were not disclosed.
- Invistics’ solution, Flowlytics, uses predictive analytics to detect illicit diversion of both controlled and non-controlled medications in patient care settings such as hospitals and ambulatory surgery centers. Flowlytics reconciles drug transactions from purchase to patient and uses AI to rapidly and accurately identify patterns of behavior consistent with drug diversion.
Impact of Drug Diversion
Drug diversion is a growing challenge in the U.S. healthcare system, costing some $70 billion per year. One study estimates 10% to 15% of health professionals will misuse drugs or alcohol at some point in their career, increasing the risk for drug diversion.¹ Drug diversion occurs when a healthcare worker illegally obtains or uses prescription drugs intended for a patient. A five-year National Institutes of Health-funded study found that Flowlytics detected cases of drug diversion faster and with more efficiency than legacy solutions.² In addition to detection, the solution also supports diversion investigation, adjudication, and reporting workflows.
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Acquisition Impact
Wolters Kluwer Health expects the acquisition to deliver a return on invested capital (ROIC) above its weighted average cost of capital (8%) within 3-5 years and expects the transaction to have an immaterial impact on adjusted earnings. Invistics will join the company’s Clinical Surveillance, Compliance & Data Solutions unit, part of Clinical Solutions.
Source: HitConsultant
