Yahoo Finance - Intent Solutions™ Well Positioned to Address U.S. Opioid Crisis
Intent Solutions™ Well Positioned to Address U.S. Opioid Crisis
Company Expands Executive Team to Become Commercial Ready
ATLANTA, Oct. 17, 2017 /PRNewswire/ -- Intent Solutions™, creator of the breakthrough medical device technology, tad™, has rounded out its executive team in preparation for going commercial later this year, which puts the company in a promising position to address the ongoing national opioid crisis. The commercialization efforts follow the company's successful $1.5 million seed round capital raise in 2016.
tad, for "Take As Directed," is a smart, mobile medication dispenser that supports patients' efforts to achieve better health outcomes by helping them take the right dose at the right time. The medical device would ensure that patients receiving analgesic treatment are appropriately using the medications they are prescribed. It would help to end the sale of street drugs and bring patients who seek street drugs into legitimate treatment.
tad, which can be programed to a specific regimen and schedule, incorporates biometric access and is fully tamper resistant, which could help to prevent countless numbers of pain management patients from accidentally turning into patients who need treatment for addiction or dependence.
The CDC estimated that up to one-half of all prescription medications are not taken as prescribed. This adherence problem results in the death of more than 125,000 individuals per year and a staggering $300 billion in additional costs to the nation's healthcare system, according to the US Surgeon General. It also results in the pharmaceutical industry losing $564 billion in global revenue, reported by CapGemini. The adherence problem may include taking more or less medication than prescribed or skipping doses, as well as the abuse, misuse, and diversion of medications.
"Even with great doctors and groundbreaking medications, patient results will be ineffective if they don't take their medication as directed," said Sam Zamarripa, Intent Solutions CEO. "We have a mission inside healthcare and research — we're looking to alter the very definition of what it means to be adherent."
In addition to helping address the national opioid crisis as reported by the Atlanta Journal Constitution, the medication dispenser helps facilitate clinical trials with its ability to record adherence data, which is sent to a cloud database for analysis, reducing errors and simplifying data reconciliation. The device's uses can span the breadth of pharmaceutical trails.
"We developed our technology to improve adherence in a variety of markets including clinical research, chronic pain management, and specialty pharmacy," said Dr. L. Van Crisco, Intent Solutions' board chairman. "In addition, we've seen how our technology can be used in hospice settings and with patients who are on medications for life, such as those who have had transplants. We think it's a versatile technology that can improve health, reduce the misuse and abuse of certain drugs, and provide an economic benefit to our customers."
Since his promotion to CEO from his previous post as president, Zamarripa has led the development of Intent Solutions' market strategy, helped to attract serious investments, and hired experienced executives to complete its management team, giving the company an edge as it looks to go commercial.
"The board's mandate to me is to grow the company and successfully take it to market," Zamarripa said. "With the addition of new key executive members, Intent Solutions is poised for commercial success in the areas of addiction, pain treatment, clinical trials, and beyond."
Recent staff additions include:
- Ward Broom, chief operating officer: Broom co-founded a healthcare business and has experience in taking a product from development to an exit. Broom has two degrees from the Georgia Institute of Technology and is currently completing his MBA with a focus in management of technology.
- Paul Quiner, chief strategy officer and general counsel: Having spent his entire career in healthcare, both on the law and business development sides, Quiner most recently oversaw acquisitions for his former employer, McKesson, a Fortune 5 company. He brings a unique perspective on regulatory issues and overall strategy. His role with Intent Solutions will include helping to prioritize all the opportunities the company has in healthcare, putting together a solid strategy for success.
With the new energy and expertise of its additional hires, Intent Solutions is pushing into the final frontier of medicine. Knowing the need for a solution in addition and clinical trials, the company also is studying other markets including oncology drugs, specialty pharma, chronic pain, and tracking medication for adolescents and the elderly.
Intent Solutions, which was founded 2013 as a startup, is a member company in the Advanced Technology Development Center's ATDC Accelerate portfolio. A program of the Georgia Institute of Technology, ATDC is the technology incubator for the state of Georgia.
"We accepted Intent Solutions into our ATDC Accelerate portfolio because we believe its technology is a promising solution to a problem that is clearly growing," said Kirk Barnes, an ATDC startup catalyst.
"We work with companies such as Intent Solutions to improve their overall strategies, both commercial and marketing, while also connecting them to the resources at Georgia Tech in all areas of science, engineering, and research," Barnes said.
About Intent Solutions:
Headquartered in Atlanta, Georgia, Intent Solutions is a technology, software, and data service company focused on developing solutions for clinical research, pain management, and specialized pharmacy. Its products markedly improve the monitoring and management of medication adherence and provide real time behavioral data to more accurately measure compliance and efficacy. For more information, visit: intentsolutions.com.
View original content with multimedia: https://finance.yahoo.com/news/intent-solutions-well-positioned-address-181800016.html