Strategic Initiative Expected to Enhance Technological Capabilities, Advance the Practice of Pharmacy & Enable Support of Safe Medication Management

Long Island University and Omnicell, Inc. (Nasdaq: OMCL) (Omnicell), a leading provider of medication management and adherence tools for health systems and pharmacies, announced the opening of the Center for Innovative Medication Management (CIMM), a state-of-the-art laboratory designed to provide an immersive pharmacy technology and analytics experience for LIU pharmacy students. Long Island University is in the top 7% of research institutions in the United States, as designated by the Carnegie Classification.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230420005901/en/

Long Island University President Kimberly R. Cline, Omnicell Chairman, President, CEO, & Founder Randall Lipps, Arash Dabestani, LIU Pharmacy Dean, and other dignitaries open the Center for Innovative Medication Management, a strategic initiative to enhance technological capabilities, advance the practice of pharmacy, and enable support of safe medication management (Photo: Business Wire)

The strategic alliance established by LIU Pharmacy (also identified as The Arnold & Marie Schwartz College of Pharmacy and Health Sciences) and Omnicell will allow the next generation of pharmacy leaders to support the transformation of the pharmaceutical industry’s care delivery model. Through the CIMM, LIU Pharmacy students have early access and exposure to evolving aspects of pharmacy technology, providing them a competitive advantage as they transition to the workplace.

“Long Island University is at the forefront of high-level research through extensive partnerships with transformative leaders in healthcare. The University is appreciative of Omnicell’s commitment to provide students with innovative opportunities as we continue to prioritize engaged learning,” said Long Island University President Kimberly R. Cline.

Through this immersive program, students will gain hands-on experience with innovative technology designed to support various functions within medication management, including central pharmacy dispensing and sterile compounding robotics and point of care medication dispensing systems, as well as advanced software that delivers intelligence and analytics to drive medication inventory optimization.

“The last 25 years have seen the remarkable adoption of robotics, automation, intelligence, and electronic health record management in advancing patient safety. As educators, it is imperative to train well-rounded pharmacists to embrace new career opportunities and lead these changes in the pharmacy technology revolution,” said Arash Dabestani, Dean of LIU Pharmacy. “Through our strategic alliance with Omnicell, our students will have the opportunity to deepen their understanding of how technology can advance the practice of pharmacy, in an effort to prepare them for career development post-graduation.”

In addition to engaging LIU Pharmacy students, the CIMM will also be utilized by Omnicell to train their Advanced Services operational teams, who will go on to support the company’s technology at customer sites.

“We believe technology and intelligence are key to supporting safe, efficient medication management,” said Jeff Schlossnagle, senior vice president and chief revenue officer of Omnicell. “As industry leaders, we are excited to invest in the future of pharmacy practice in order to help improve outcomes and advance care.”

Inaugural CIMM classes are expected to begin in Summer 2023.

About Long Island University (LIU)

Long Island University, founded in 1926, continues to redefine higher education, providing high quality academic instruction by world-class faculty. Recognized by Forbes for its emphasis on experiential learning and by the Brookings Institution for its “value added” to student outcomes, LIU has a network of over 285,000 alumni, including industry leaders and entrepreneurs around the globe. Visit liu.edu for more information.

About Omnicell

Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Healthcare facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. Institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit omnicell.com.

Forward-Looking Statements

To the extent any statements contained in this press release deal with information that is not historical, these statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, statements including the words “expect,” “intend,” “may,” “will,” “should,” “would,” “could,” “plan,” “potential,” “anticipate,” “believe,” “estimate,” “seek,” “predict,” “project,” and variations of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to the occurrence of many events outside Omnicell’s control. Such statements include, but are not limited to, the objectives and expected benefits of the Center for Innovative Medication Management (and any implied financial impact from the foregoing). Actual results and other events may differ significantly from those contemplated by forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, (i) Omnicell’s ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (ii) risks related to Omnicell’s investments in new business strategies or initiatives, (iii) Omnicell’s ability to recruit and retain skilled and motivated personnel, and (iv) other risks and uncertainties further described in the “Risk Factors” section of Omnicell’s most recent Annual Report on Form 10-K, as well as in Omnicell’s other reports filed with or furnished to the United States Securities and Exchange Commission (“SEC”), available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. Omnicell assumes no obligation to update any such statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, new information, future events, or otherwise, except as required by law.

OMCL-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005901/en/