Baker McKenzie has recently acted for the Nasdaq listed HMS Holdings Corp., a leading US-based provider of healthcare technology, analytics and engagement solutions, on its cornerstone 13% stake investment in the ASX-listed MedAdvisor, an advanced software platform that makes medication management easier for patients.
Baker McKenzie's head of mergers & acquisitions in Australia and lead partner on the transaction, Richard Lustig, stated: "The future of healthcare delivery is rapidly evolving to better meet the needs of patients given new technologies underpinned by constant innovation. We were delighted to assist HMS Holdings Corp. on this cross-border deal, which will meet the strategic needs of their business."
MedAdvisor offers an advanced software platform that helps make medication management easier by organizing all of a patient's medication and prescription information on the patient's smartphone, tablet or PC. MedAdvisor connects to each patient's pharmacy to provide automatic details of the patient's medication and prescriptions to help them take medication safely, effectively and on time. The MedAdvisor app reminds patients when they need to see their doctor for a new script, reminds them to take each dose and reminds them when they need to refill their script.
According to HMS Holdings Corp., the investment also marks the launch of a strategic relationship with MedAdvisor to tackle the global issue of medication non-adherence. Patient non-adherence to their medications is a global issue, and improving adherence benefits patients as well as doctors, and pharmacists and payers. The World Health Organisation estimates adherence to long-term medication therapies in developed nations to be 50%, and that increasing the effectiveness of adherence interventions may have a far greater impact on the health of the population than any improvement in specific medical treatments.
Richard was assisted by a Baker McKenzie team including Xavier Keary and Ben McLaughlin.
HMS Holdings Corp. is based in Irving, Texas, employing more than 2,500 employees in 25-plus offices across the United States.