Hicks Holdings Acquires 40 Percent Stake in SafeMed Inc., an Emerging Leader in Clinical Decision Support Systems
DALLAS & SAN DIEGO--(BUSINESS WIRE)--Hicks Holdings, LLC, a Dallas-based, family-owned private investment enterprise headed by Thomas O. Hicks, and SafeMed Inc., of San Diego, an emerging leader in clinical decision support systems, today announced that Hicks Holdings has acquired a 40 percent stake in SafeMed. The investment, financial terms of which were not disclosed, will enable SafeMed to accelerate the continuing implementation of its business strategy and the realization of its full growth potential.
“We welcome this investment by Hicks Holdings and the confidence it reflects in our team, technology, business strategy and growth prospects.”
Launched in 2000 by its founder and chief executive officer, Ahmed Ghouri, M.D., SafeMed addresses the fundamental challenge in healthcare: improving quality of care while maximizing affordability. SafeMed has developed, and a growing number of healthcare enterprises are already using, a suite of SafeMed products that provide comprehensive, immediately usable information at the point of care, empowering healthcare providers to make optimal decisions based on safety, efficacy, and affordability on a patient-specific basis.
Thomas O. Hicks, chairman and chief executive of Hicks Holdings, said: “When SafeMed first came to our attention earlier this year, we quickly recognized that this is a company with a truly unique, real-time, advanced clinical decision support (CDS) system—a system that not only works but is already being used by a growing number of doctors to make better-informed clinical decisions. We fully share the view of Dr. Ghouri and his team that SafeMed has the ability to revolutionize clinical decision making, benefit thousands of doctors and their patients, and create significant value for SafeMed investors and business partners.”
SafeMed's patient-specific and payer-specific analysis provides a foundation for better-informed clinical decisions, transforming the practice of medicine and the economics of healthcare. Physicians benefit from accurate and comprehensive information on therapeutic alternatives, reduced medical error, reduced liability, improved operating efficiencies, and the potential for increased revenue through payer Pay-for-Performance (P4P) programs. Most importantly, patients benefit from the knowledge, beginning at the point of care, that their health is better safeguarded while their costs of healthcare are being reduced.
Dr. Ghouri said: “We welcome this investment by Hicks Holdings and the confidence it reflects in our team, technology, business strategy and growth prospects.”
He continued: “We are at the beginning of an exciting yet precarious era in healthcare. Medicines are being developed each day that give hope to those suffering from life-threatening diseases. Patients are increasingly becoming better-informed by accessing vast amounts of information on the Web. The medical community is focusing more than ever on preventive care.
“Such advances can often be overshadowed, however, by the information silos that exist in healthcare today. More than ever, physicians must take into account a patient's medical history, co-existing diagnoses and conditions, laboratory data, drug interactions, preventive care standards, clinical best practices, and insurer benefit information to determine the safest, most effective, and most affordable treatment for any given patient. The sheer number of variables is immense and the slightest error can have profound human consequences.
“It is therefore imperative to have split-second answers to complex questions at the moment they are needed. That's what SafeMed is all about: Empowering patients and physicians with lifesaving answers in seconds. Our clinical decision support platform was designed by doctors, for doctors, and performs hundreds of thousands of computations in real time so that patients can receive the most effective and safest treatment possible,” Dr. Ghouri said.
SafeMed currently offers three products:
The growing list of SafeMed partners currently includes Blue Cross Blue Shield of Massachusetts; Beth Israel Deaconess Medical Center; 4Medica; RxHub, and several leading electronic medical record (EMR) vendors. Information on these partners, on the SafeMed team, and on SafeMed's mission, products and technology, may be found at www.safe-med.com.
About SafeMed Inc.
SafeMed is the developer of healthcare's most powerful decision support system, capable of analyzing virtually all patient attributes, regardless of volume or complexity, in real-time. SafeMed is founded upon a proprietary, ultra-high-performance analytical engine that reasons across a patient's electronic health record to prospectively evaluate all possible treatment decisions simultaneously. For each patient, the SafeMed engine typically performs more than 100,000 safety and cost computations, enabling physicians to find the safest, most appropriate, and most affordable treatments instantly. SafeMed delivers lifesaving answers in seconds. For further information, visit www.safe-med.com.
About Hicks Holdings LLC
Hicks Holdings was formed in January 2005 as a holding company for the Hicks family’s sports, real estate and other assets and investments, including Major League Baseball’s Texas Rangers, the National Hockey League’s Dallas Stars and the Liverpool Football Club. In addition to SafeMed, its portfolio of corporate investments currently includes Latrobe Specialty Steel Company, a leading producer and distributor of specialty steels and alloys; Greatwide Logistics Services, a leading, Dallas-based third-party logistics services company; DirecPath, a company formed in May 2006 to provide bundled DIRECTV programming, broadband voice and data services, security and other locally based services to multiple dwelling units (MDUs) across the United States; Ocular LCD, Inc., a leading designer, manufacturer and marketer of high-performance liquid crystal displays, modules and systems; and Grupo Pilar, a leading animal and pet food company in Argentina.