OPTEL acquires Verify Brand to set the stage for end-to-end traceability
QUEBEC CITY, Dec. 7, 2017 /CNW Telbec/ - OPTEL GROUP, a leading global provider of traceability systems for the pharmaceutical and medical device industries, announced today that it is expanding its traceability offering through the acquisition of Verify Brand.
Strategically, this acquisition allows OPTEL to not only complete its traceability offering and provide end-to-end solutions, but also expand its portfolio to cater to a wide range of diverse industries. "Our plan is to optimize supply chains to increase our customers' performance while at the same time building a sustainable economy in the long term," states Louis Roy, President of OPTEL GROUP. "This acquisition allows us to quickly attain a crucial part of that goal, which is to connect the supply chain," adds Mr. Roy.
This acquisition combines OPTEL's experience in deploying characterization and data-capturing solutions in industrial environments with Verify Brand's proven data management and analytics expertise, which complements OPTEL's offering perfectly.
The addition of Verify Brand's L4/5 serialization capabilities to the OPTEL solution set enables the connectivity required for pharma companies to implement Track & Trace across the entire supply chain (L1 to L5).
"With increased global regulations and consumer demand for greater transparency, brands need solutions that deliver true end-to-end supply chain visibility," said Verify Brand CEO, Michael Howe. Combining our mature, flexible serialization platform with OPTEL's Track & Trace capabilities will open up access to the data, analytics and reports that brands need to finally enable this level of visibility. We believe that the innovations we can deliver, in combination with the OPTEL team, will create solutions that meet the demands of brands both today, and into the future."
Market Impact
OPTEL has always used artificial intelligence in its automated solutions. This capability can now be used to automatically analyze the big data that is generated throughout the supply chain and allow customers to transition into the fourth industrial revolution, or the digitization of manufacturing. OPTEL's solutions will provide ultimate business intelligence to optimize processes and build greater proximity to suppliers and customers.
Never shying away from complexity, OPTEL aims to solve difficult problems for its customers, and the acquisition of Verify Brand provides access to the innovative technologies to do exactly that. OPTEL believes it is among the only companies in the world to have this unique combination of expertise and go this far to help industry face an increasingly competitive and ever-changing landscape.
These complementary solutions will enable OPTEL to develop a cross-functional platform that will meet the needs of numerous industries. "OPTEL has created a systemic view of industrial processes and supply chains that takes into account customer business requirements as well as sustainable development, and with all this expertise, I'm confident that 2018 will be an incredible year for product launches at OPTEL. Our solutions will revolutionize methods and provide even more groundbreaking tools to companies and consumers alike," concludes Mr. Roy.
About OPTEL GROUP
Now a Certified B Corporation, OPTEL is a leading multinational provider of traceability systems, and its mission is to use its innovative technologies to create a better world. The company's renowned solutions ensure the quality of consumer health products and help stop counterfeiting of pharmaceuticals and medical devices. With a global team of approximately 850 employees, four locations across four continents—Canada, Ireland, India and Brazil—as well as support in over 20 countries, OPTEL serves an international market. OPTEL is also adapting its technologies to create efficiencies in various other sectors—from health-related industries to smart manufacturing and more, all can benefit from end-to-end traceability. OPTEL's expertise will allow diverse industries to measure, inspect, control and track a variety of elements to improve quality and make better use of resources. OPTEL President, Louis Roy, was named Canada's Entrepreneur of the Year 2017 by EY. For more information, visit www.optelgroup.com.
About Verify Brand
Since 2004, Verify Brand has helped organizations secure revenue streams and safeguard brand reputation by eliminating fraudulent activity along the supply chain and in the end-user market. The company's leading serialization and traceability software, The Verify Platform, empowers the world's best-known B2C and B2B brands to gain visibility into supply chains and partner networks, achieve global compliance, operationalize business data and drive brand value. For more information, visit www.verifybrand.com.
SOURCE Optel Group
For further information: Erica Boisvert, Director, Corporate Communications and Public Affairs, OPTEL GROUP, Tel.: 418 688-0334, ext.6431, Cell.: 418 456-2704, [email protected]
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