A Bristol health tech firm has sold off its electronic medication records system to a care home management firm for an undisclosed sum.
Invatech Health's software platform - known as Atlas - has been bought by Person Centred Software (PCS). Guildford-based PCS, which operates some 3,000 UK care homes, will retain Atlas’s full team of 15 staff, all of whom work remotely.
Atlas is currently used in 700 care homes across the UK and is serviced by a 165-strong network of independent pharmacies.
The acquisition marks the end of a 20-year journey for Invatech Health chief executive Tariq Muhammad, a pharmacist who started working on care homes in 2002 and first conceived the concept of an electronic medicines system for the sector in 2006.
Following the transition of Atlas to new ownership, Eastville-based Invatech Health has said it will concentrate solely on the further growth of Titan, its software for pharmacy management.
The cloud-based tech helps pharmacies manage medicine dispensing and control of business activities in an effort to speed up the user experience for patients and practice owners.
Mr Muhammad said he was proud to see Atlas given an opportunity for further progress. He said: "I set up Atlas to tackle a dire need in the care homes sector for a system which could prevent incorrect dosing, mismanagement of prescriptions and administration errors of important medication.
“For me Atlas has always been about the end user – care homes and their residents. It’s taken a long time to perfect it and, as with any business, there have been bumps along the way. Now I’ve taken Atlas as far as I can, so I’m delighted to see it under new ownership, with a company whose values I share and who can allow it to reach greater heights as part of a new ecosystem."
Mr Muhammad's management team will oversee the transition over the coming months, Invatech Health said.
Jonathan Papworth, co-founder of PCS, said: “I have been impressed with the proven capabilities built into Atlas, alongside the unique level of integration across GPs and pharmacies.
“Atlas is joining our family of social care products to provide best-in-class clinical software for our global customers, from digital care records to medication management and beyond."
The acquisition was negotiated and facilitated in-house between at Invatech Health and PCS with support from accountants GS Verde and legal firm GL Law, both based in Bristol.
Mr Muhammad added: “This deal has come at the right time for both parties and, as such, the process has been quick, and straightforward."
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