WINNIPEG, Manitoba--(BUSINESS WIRE)--Intelligent Hospital Systems, Ltd., today announced it has been acquired by the Van Humbeck family, Winnipeg natives who have been substantial and longtime investors in the company. The transaction structured as an asset sale closed April 15.
The new company, Intelligent Hospital Systems, Inc. (IH Systems), will continue developing industry-leading pharmacy automation technology, including RIVA, the only fully-automated IV compounding system on the market today. The sale is expected to be seamless from an operations standpoint. Customers, employees, vendors and contractors can anticipate business as usual.
"With the success of RIVA technology firmly established and demand for pharmacy automation increasing rapidly, IH Systems is poised for unprecedented growth," said Ed Van Humbeck on behalf of the family. "As an investor in the company for many years, it has been exciting to see RIVA’s proprietary technology become the gold standard in pharmacy automation. I look forward to increasing sales of RIVA around the world and seeing IH Systems become the global leader in providing pharmacy automation solutions."
The Van Humbecks have been significant investors in IH Systems, Ltd., since 2008. Recognized for their business acumen and entrepreneurial spirit, the family founded and later sold Winnipeg company Vansco Electronics after building it into a global manufacturer of high-tech electronic systems for construction machines and other heavy equipment. Vansco grew to employ more than 1,000 people under the Van Humbecks’ leadership. As investors in IH Systems Ltd., the Van Humbecks provided vital support to the development of RIVA’s pioneering automation technology. The company’s expansion into international markets is expected to accelerate under their ownership.
"This transaction is vital to IH Systems' ability to continue implementing its strategy for global growth," said Dr. Niels Erik Hansen, who will continue in his role as president and CEO of IH Systems, Inc. "We are thrilled that Mr. Van Humbeck and his family, who have been among our most ardent supporters, are now taking full ownership. We are confident this transaction will facilitate our ability to make strategic decisions more effectively and assist our existing customer base to reach the next level of success. Further, it will allow us to expand the products being offered to the marketplace and enter emerging markets more efficiently."
Since its introduction in 2008, RIVA technology has safely and accurately prepared millions of medication doses globally, with systems sold in the U.S., Canada, Australia, Qatar, Saudi Arabia and elsewhere. RIVA, which is USP<797>-compliant, can process individual or batch doses in an ISO Class 5 environment, and is the only system with true walk-away capability. The system’s ability to handle extended production runs with no staff intervention required enables hospital pharmacies to prepare specific medication doses ahead of orders, while improving safety for patients and staff and reducing costs and waste.
About Intelligent Hospital Systems
Founded in 2006, Intelligent Hospital Systems (IH Systems) is a medical device company focused on the design and development of automated solutions for the hospital environment. Based in Winnipeg, Manitoba, IH Systems manufactures RIVA, a fully-automated IV compounding system that prepares medications for syringes and IV bags in an aseptic environment. Using RIVA, hospitals enhance patient safety, lower the cost-per-dose of medications, reduce their vulnerability to medication shortages and cut waste. For more information, visit http://www.intelligenthospitals.com/.
