Omnicell Explained

Omnicell, Inc.
Type:Public
Industry:Health technology
Founder:Randall Lipps
Revenue Year:2023
Operating Income: US$-35 million
Income Year:2023
Net Income: US$-20 million
Net Income Year:2023
Assets: US$2.23 billion
Assets Year:2023
Equity: US$1.19 billion
Equity Year:2023
Num Employees Year:2023
Footnotes:[1]

Omnicell, Inc. is an American multinational healthcare technology company headquartered in Mountain View, CA. It manufactures automated systems for medication management in hospitals and other healthcare settings, and medication adherence packaging and patient engagement software used by retail pharmacies. Its products are sold under the brand names Omnicell and EnlivenHealth.

Company history

1992–1999

Omnicell Technologies, Inc. was founded in September 1992 by Randall A. Lipps after his daughter was hospitalized at birth and he observed nurses had difficulty locating medical supplies. With the help of graduate students from Stanford University, he developed a prototype of a system that automated inventory management tasks performed manually by nurses.[2]

With Lipps as the chairman of the company, it commercially began developing automated supply cabinets in 1993. The cabinets were capable of tracking transaction data, inventory levels, expenses, and patient billing. Sales figures reached $7.7 million by the end of 1995 and increased the following year to $21.5 million. The company expanded services by developing pharmacy automation systems for dispensing medications in 1996. They expanded their product line in 1999 by acquiring the SureMed line of pharmacy cabinets from Baxter Healthcare Corp.

2000–2020

By the end of the 1990s, the company had installed more than 14,000 automated dispensing cabinets in more than 1,300 healthcare facilities, and sales grew to $50 million. Omnicell went public in August 2001, changing the company’s name to Omnicell, Inc.[3]

In 2002 Lipps assumed the role of CEO, replacing Sheldon D. Asher. In 2003, Omnicell acquired BCX Technology, Inc., a maker of wireless, handheld bar-code scanners that could track pharmaceutical dispensation. The company further expanded with more acquisitions. Its purchase of MTS Technologies added multiple-dose medication blister cards used by retail pharmacies to encourage medication adherence. The acquisition of Aesynt Inc. added pharmacy robots for inventory management, specialized IV compounding robots to remove human error, and pharmacy data intelligence software. The acquisition of Ateb, Inc., which provided patient engagement and patient communication systems to retail pharmacies, led to the formation of the EnlivenHealth business segment in 2020.[4] [5]

Acquisitions and partnerships

Finances

YearRevenue
in mil. USD$
Net income
in mil. USD$
EBITDA
in mil. USD$
Total Assets
in mil. USD$
Total Equity
in mil. USD$
Price per Share
in USD$
Employees
2011246102536228317
2012314164544230815
2013381245649334926
2014441317156039033
2015485317157940231
201669317393543234
20177162161980517492372
2018787381001081680612501
2019897611421241845822698
20208923211718259681202862
2021113278230214211471803800

Notes and References

  1. Web site: Omnicell, Inc. 2023 Annual Report (Form 10-K) . 28 February 2024 . SEC.gov . U.S. Securities and Exchange Commission.
  2. Web site: Profile - Omnicell, Inc. . www.encyclopedia.com.
  3. News: Staff . Omnicell IPO up 36% . . August 7, 2001.
  4. News: Levy . Sandra . Omnicell acquires Pharmaceutical Strategy Group's 340B software-enabled service business . Drug Store News . October 2, 2020 . en.
  5. News: Salazar . David . Omnicell to acquire Ateb . Drug Store News . November 29, 2016 . en.
  6. News: Zacks Equity Research . Omnicell Completes MTS Acquisition . Yahoo! Finance . May 29, 2012.
  7. Omnicell, Inc. Signs Agreement with Bupa Care Homes (CFG) plc to Acquire UK-Based SurgiChem Limited . Omnicell . Fierce Healthcare . December 9, 2013 . en.
  8. Omnicell, Inc. Closes Acquisition of Germany-based MACH4 Pharma Systems . Omnicell . news.thomasnet.com . April 24, 2015.
  9. Omnicell and AVANTEC Launch Europe's Largest Deployment of Automated Medical Supply Systems . Omnicell . BioSpace . October 23, 2008.
  10. News: Demaitre . Eugene . Omnicell Buys Automated Pharmacy Firm Aesynt for $275M . Robotics Business Review . November 23, 2015.
  11. Omnicell Acquires InPharmics . Omnicell . Pharmaceutical Processing World . April 19, 2017.
  12. Omnicell Completes Acquisition of Pharmaceutical Strategy Group's Leading 340B Software-Enabled Service Business . Omnicell . . October 1, 2020 . en.
  13. Omnicell to Partner with Guy's and St Thomas' NHS Foundation Trust, London on Development of European Technology-Enabled Intelligence Centre as Part of Expansion of Omnicell Systems . Omnicell . BioSpace . January 4, 2021.