BD (Becton, Dickinson and Company) has acquired GSL Solutions, a US-based developer for smart medication devices, for an undisclosed amount.
GSL Solutions’ smart medication devices store and track controlled substances and patient-specific medications that boost security and compliance of medication storage. The devices also offer analytic capabilities to boost inventory management.
The deal helps BD to strengthen its advanced medication management capabilities to meet the requirements of retail pharmacies, including those in outpatient settings.
BD Medication Management Solutions worldwide president Mike Garrison said: “This strategic acquisition provides innovative technologies for retail pharmacies and builds on recent acquisitions that have complemented our traditional hospital pharmacy connected medication management solutions.
“Market consolidation, larger numbers of prescriptions written, and changing regulations for controlled substances are intensifying the need for accurate, automated tracking of prescription medications and narcotics. This acquisition will help enable a new suite of BD products and services for retail and outpatient pharmacy customers to meet their current and future needs.”
The RFID-based products of GSL comprise standalone cabinets that offer secure storage for will-call prescriptions and notify patients automatically once prescriptions are ready. They also include secured cabinets for controlled substances. The products enable pharmacies to operate efficiently and reduce wait time for patients.
GSL Solutions co-founder and CEO Shelton Louie said: “GSL utilises advanced technology to create secure medication management systems that give retail pharmacists end-to-end solutions that alleviate the administrative burden while ensuring compliance and patient satisfaction.
“By joining BD, we look forward to maximising the benefits of our products and technology and helping pharmacies manage their increasingly complex business and regulatory environments.”
GSL has around 20 full-time associates based in Vancouver, Washington, US.
It is the fourth tuck-in acquisition completed by BD in fiscal 2021.
The details of the transaction have not been disclosed.