Companies will combine digital communications and card based validated solutions, to provide integrated approach to increasing patient medication adherence
TORONTO, April 28, 2015 /CNW/ - MEMOTEXT Corp. announces today the formation of a strategic alliance with STI Technologies Limited to provide state-of-the art digital communications platform and smart-card technology, to improve patient compliance with medications.
The two Canadian companies are collaborating to integrate their technologies to solve a very costly healthcare problem. Despite operating in different spaces of the healthcare industry, both companies have evidence-based methodologies and validated solutions that complement each other. MEMOTEXT's JAMA published clinically validated digital adherence solutions have been shown to increase patient adherence by 31.4%. While STI's recent "STI Reimbursement Programs Correlate with Higher Medication Possession Ratios" discussion paper, demonstrates a 30% relative improvement in medication possession ratio (MPR) over a 12-month period for patients benefiting from a reimbursement solution program. By combining MEMOTEXT's experience in digital health with STI Technologies' reimbursement solution technology, the two offer a supercharged adherence program that achieves far greater increases in adherence and MPR than either company could accomplish on its own.
This new partnership will integrate MEMOTEXT's communications platform and personalized behaviour change messaging, with STI Technologies' personalized reimbursement solutions. The result is an intervention with far greater increases in adherence and MPR. "We are excited that the findings validate what we've been hearing from patients and healthcare professionals for years. Patients highly value these reimbursement programs" says Tim Gillis CEO of STI Technologies "Both STI and MEMOTEXT have a focus on personalized healthcare and a proven track record in improving patient's adherence and their MPR. It's exciting to see what we can accomplish in the coming years. By combining our technology, methodologies and offerings into integrated solutions, our partnership will revolutionize patient adherence programs in Canada."
The alliance brings together STI's reimbursement support programs, which helps patients with their prescriptions and other healthcare expenses, with MEMOTEXT's proprietary clinical algorithms and evidence based personalized digital communications. The resulting platform integrates financial assistance for health related services and products with personalized adherence reminders to create a system that delivers validated outcomes, real-time, data-driven, support and behaviour change. The end result is a holistic patient adherence program unlike any other offered in Canada.
"With STI's expertise in helping patients manage their healthcare expenses and our experience in improving adherence, we complement each other extremely well" said Amos Adler, M.Sc., Founder and President of MEMOTEXT "It's great that two Canadian digital health companies are collaborating to provide integrated, more affordable, and more effective health interventions. It is a truly exciting time for both of our companies."
MEMOTEXT Corp. improves outcomes for patients and the bottom line for healthcare stakeholders by ensuring patients adhere to their treatment. With a proprietary, evidence-based self-learning algorithm and communications platform, MEMOTEXT integrates behavior change into the everyday lives of patients with personalized, secure, interactive voice, text, and mobile communications. Visit www.memotext.com
STI Technologies Limited is the largest intelligent reimbursement solutions provider to the Canadian healthcare industry, implementing innovative programs on behalf of major pharmaceutical companies. STI's flagship solution, innoviCares, is a free program that provides additional financial coverage for nearly 100 brand-name medications and other healthcare products, providing patients with greater choice and access. Visit www.smartsti.com
SOURCE MEMOTEXT Corporation
For further information: or media inquiries, please contact: Noah Nemoy, Team Lead Corporate Communications, MEMOTEXT Corp., 1-877-636-6898 ext. 106, [email protected]; Erin Solomon, Marketing Associate, STI Technologies Limited, 902-442-2071, 902-877-1849, [email protected]