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 $4,500,000 as of the market close on March 24, 2021. The transaction closed on March 24, 2021.
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."
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.
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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.
Optimus HealthCare Services, Inc
Marc Wiener, CEO
Dan Cohen, CEO
SOURCE: Optimus Healthcare Services, Inc.