TCGRx acquires Parata Systems
In a move aimed at cornering a solid share of the pharmacy technology market, TCGRx, a Powers Lake, Wis.-based Frazier Healthcare Partners company, has acquired Parata Systems. Both companies offer medication adherence packaging and high-speed automated robotic dispensing technology.
“TCGRx’s merger with Parata provides a major growth opportunity for both our businesses through extended solution and service offerings for our customers,” said Duane Chudy, founder of TCGRx. “As pharmacies elevate their role in the healthcare ecosystem, we will be best positioned to support them on their journey.”
Together, the companies said they have more than 4,500 packagers, inspection systems and vial-filling robots across retail, long-term care, hospital, government and mail-order pharmacies in North America. As part of their merger, they said their focus would be on growth around central fill, inventory control and automated blister-card packaging solutions.
“Pharmacies are under intense pressure to deliver exceptional service in the most cost-effective manner possible, all while enhancing the patient experience,” said Mark Longley, Parata executive vice president of sales. “The combination of our collective resources will allow us to accelerate the pace of innovation and better meet the rapidly evolving needs of our pharmacy customers.”
The combined company will operate under the Parata Systems brand and be headquartered in Durham, N.C., with additional facilities in Wisconsin. TCGRx CEO Rob Kill will head the organization, with Chudy serving as vice chairman and a leadership team comprised of executives from both companies. D.J. Dougherty, formerly Parata CEO, has decided to pursue other interests.
“We are thrilled that we were able to bring these two outstanding organizations together and look forward to an exciting future for the company,” Kill said. “D.J. and team have done a tremendous job of building a market leader known for innovative technologies supported by an exceptional customer-centric organization. We are grateful to D.J. for his leadership and years of outstanding service to Parata.”
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