FERNLEY, Nev.--(BUSINESS WIRE)--Verify Smart Corporation (VSMR) a Global innovator in financial fraud prevention and digital distribution solutions announced today that it has signed a Letter of Intent to acquire an equity stake and exclusive international reseller rights in Med-Con Technologies, LLC for cash and stock.
Med-Con Technologies provides a patented solution (MedSkedTM ) for improved medication adherence. MedSkedTM gives patients the ability to more effectively self-manage and keep track of their daily medication dosing. Med-Con’s solutions are effectively assisting patients in over thirty two countries, and twenty four languages.
Med-Con has also developed MedCon Mobile Smart LabelTM which is a mobile based patient adherence solution for the Pharmaceutical industry and is currently being tested by a major Pharmaceutical company with other pilots scheduled. The cloud based SaaS software manages the patient’s medication dosing schedule via a mobile device while sending vital adherence data to the Pharmaceutical clinical trial teams for analysis via the MedCon CentralTM data portal. Verify Smart and Med-Con believe this product is groundbreaking and a huge first to market play in the Pharmaceutical space.
Pharmaceutical Manufacturing Magazine said “Medication Adherence is arguably the largest problem in healthcare, it is estimated that medication non-adherence causes 30 – 50% of treatment failures and 125,000 deaths annually. The direct cost to healthcare is estimated as high as $289 billion annually. Pharmaceutical companies are motivated to increase adherence because higher compliance equates to better treatment effectiveness and overall better patient health...and of course, higher drug sales.”
Tony Cinotti, President of Verify Smart said “Verify Smart will work closely with Med-Con Technologies to establish Verify Smart as the exclusive international reseller of MedSked and MedCon Mobile Smart Label for Pharmaceutical Companies, Pharmacy chains and Specialty Pharmacy markets. Verify Smart will also, in parallel, build an additional adherence solution specifically for Retail Pharmacies. This will greatly increase Med-Con sales worldwide. Pharmacy customers taking prescription medications can now have the same benefits as Med-Con’s corporate adherence solutions.”
Anthony Londino, President of Med-Con Technologies commented “We are excited about working with Verify Smart to develop new products and broaden our reach into new markets and opportunities. Verify Smart’s sales and marketing expertise, IT partners and extensive contacts in the retail pharmacy space will provide Med-Con with the additional resources to become the world leader in medication adherence and remote patient monitoring data.”
ABOUT VERIFY SMART CORPORATION
Verify Smart Corp is an international technology company that develops and markets innovative solutions for the global digital market. The company also licenses patented technology for the prevention of debit/credit card and electronic transaction fraud. The company is expanding into the growing digital and mobile sector and will market innovative solutions for Pharmaceutical Companies, Consumer Brands, Educational Institutions and the Sports and Entertainment industries.
Verify Smart Corporation
ABOUT MED-CON TECHNOLOGIES
Med-Con Technologies LLC is a global provider of medication adherence solutions and services to the pharmaceutical market. Med-Con Technologies LLC has been helping some of the world’s most prominent pharmaceutical companies to provide medication adherence support to their clinical trial and commercial patients. The company is expanding into the growing digital and mobile sector and has recently launched its MedSked Mobile Smart Label platform, a novel and innovative patient compliance solution.
Med-Con Technologies LLC
1-888-654-0856 ext. 125