ClearScribe licenses Drugmagnet
TORONTO – ClearScribe Inc. (www.clearscribe.com)
announced that it has signed an exclusive licensing agreement with
Drugmagnet.ca Holdings Limited, a leading Canadian provider of mobile
electronic prescription technology and has closed a private round of
financing to commercialize Drugmagnet’s regulatory-compliant technology.
The agreement provides for an exclusive intellectual property agreement
between the companies permitting modifications, sub-licensing and
selling agreements in North America and Europe.
ClearScribe is further pleased to announce that both Stephen Kahn,
founder of Drugmagnet and Rodney Dobson, founder and former President &
CEO of RxRite, a BlackBerry-based ePrescribing company, have joined the
ClearScribe commercialization team.
Clear communication is the cornerstone of error prevention. When
healthcare professionals communicate effectively, there is a lower
incidence of error and a significant improvement in the overall quality
of patient care.
It is well accepted that e-Prescribing has the greatest potential to
eliminate illegible, misread or misinterpreted prescriptions (e.g.,
sound-alike drugs), reduce adverse drug reactions, hospital admissions,
deaths and unnecessary costs that occur as a result of traditional
Implementing error reducing technology around the prescribing process
will improve patient safety and will alleviate some of the strain placed
on Canada’s overburdened healthcare system, reducing medication errors.
The Canadian Pharmacists Association estimates that 25% of hospital
visits by people over the age of 65 are due to medication errors,
according to Pharmacy Trends Report, 2006. The Pharmacy Trends Report
also asserts that 79% of retail pharmacists and 86% of hospital
pharmacists support moving to e-scripts, so that physicians can send
“The momentum in the marketplace is clearly accelerating” said Rodney
Dobson, the newly appointed Director of Channel Sales for ClearScribe.
“After seven years of research, technical development, beta projects,
pilot studies and the regulatory-compliant transmission of over
1,000,000 prescriptions, the Drugmagnet technology is primed for the
organized and rapid commercialization by the ClearScribe team. We are
already experiencing a marked increase in opportunities for physician
adoption and technology partnerships.”
The desire of both Health Canada and provincial regulatory authorities
to implement regulatory-compliant tools that will reduce medication
errors and improve patient-safety set the stage for ClearScribe to
leverage an increasing base of electronic prescribing physicians in the
commercialization of the Drugmagnet technology.
Drugmagnet’s foundational technology permits ClearScribe to deliver a
superior regulatory-compliant electronic prescription solution.
“We are delighted to add the Drugmagnet regulatory-compliant
point-of-care infrastructure technology to our suite of healthcare
said Stephen Boston, President of ClearScribe.”
The licensed mobile technology solutions offered through ClearScribe are
specifically designed to provide simple, affordable and efficient
methods to create and transmit prescription orders as well as receive
medical information via the ClearScribe Network. The ClearScribe Network
is a robust communications infrastructure comprised of data servers and
communication servers, web servers, Mail Exchange Servers, traditional
DNS and dynamic DNS Servers and ActiveFax servers.
The ClearScribe network facilitates and manages the secure and timely
communication of sensitive healthcare information, including
prescription medication orders, laboratory results and critical health
warnings amongst members of the healthcare industry.
The technologies offered by ClearScribe permit participating physicians
and clinics to prepare, sign, fax and transmit patient prescriptions
directly to pharmacies. Benefits occur to the patient, the physician and
the pharmacy in terms of accuracy and patient safety.
In addition, ClearScribe’s licensed technology platforms can be used to
transmit and receive other critical information between physicians,
medical laboratories and government health organizations.