Frost & Sullivan Recognizes Compliance Meds Technologies' CleverCap™ with the 2013 North American New Product Innovation Award for Medication Compliance
-- CleverCap™ delivers a next-generation, device-enabled medication adherence solution for patients taking chronic oral medications
MOUNTAIN VIEW, California, April 16, 2013 /PRNewswire/ -- Based on its recent analysis of the Integrated Device Platforms for Medication Compliance market, Frost & Sullivan recognized Compliance Meds Technologies, LLC (CMT) with the 2013 North America Frost & Sullivan Award for New Product Innovation for its CleverCap™ platform.
Recent research suggests as little as 25 percent of prescription medications are taken as directed, driving a total economic cost of $300 billion per year in the United States, rivaling the burden of cardiovascular disease. CleverCap™ offers a next–generation, device-enabled medication adherence solution for patients taking chronic oral medications. Pharmaceutical manufacturers, health plans, employers, pharmacies, care management organizations and other stakeholders have a significant vested interest in managing medication non-adherence for all applicable patient populations.
"CleverCap™ operates by allowing exact medication regimens to be digitally configured by the dispensing pharmacist for use by the patient in the outpatient setting," said Frost & Sullivan Industry Analyst Prasanna Vadhana Kannan. "Unique features include recording of time and date of each dose dispensed, audio and visual reminders when a dosage is due and tamper-proofing capabilities to improve medication safety. In addition, CleverCap™ provides real-time feedback to patients, physicians, and healthcare stakeholders on medication utilization behaviors, making it a novel care management information solution that can facilitate medication adherence, enhance dosage control, and track patient behavior," said Kannan.
The Frost & Sullivan award is granted to only a select group of organizations that demonstrate breakthrough innovation. To achieve this award, CleverCap™ underwent a comprehensive multi-step evaluation process by expert analysts, including in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
"We are very pleased to be recognized by Frost and Sullivan with this award," stated Moses Zonana, Chief Executive Officer of Compliance Meds Technologies. "Such a distinction underscores the uniqueness and value proposition of the CleverCap Technology to address medication adherence and safety concerns in the healthcare system."
"We applaud the staff and leadership of CleverCap™ for demonstrating national market distinction in their quest for solving the problem of medication adherence," Kannan said. "Being judged a recipient of this award demonstrates outstanding achievement and superior performance in technological innovation and strategic product development for the healthcare industry."
About Compliance Meds Technologies, LLC
Compliance Meds Technologies is an emerging health management service company in the U.S. that specializes in the design and implementation of innovative new technology to solve common medication use challenges for pharmaceutical manufacturers and prescription stakeholders. The Company's lead product is CleverCap™, a novel device-enabled medication adherence solution that passively engages patients, prescribing physicians, and dispensing pharmacies in an intuitive medication compliance solution. CleverCap leverages a combined digital device and wireless-data communication platform to help patients take prescriptions as directed and avoid medication misuse. For more information, visit www.clevercaprx.com.
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