CareRx and AceAge Announce Karie Pilot Study Results with Seasons Retirement Communities: Demonstrates 97% Drug Compliance
TORONTO, September 30, 2021 / CNW / – CareRx Corporation (“CareRx” or the “Company”) (TSX: CRRX), from Canada a leading provider of pharmaceutical services for the elderly and other collective care communities, and AceAge Inc. (“AceAge”), the makers of Karie, a smart pill that supports the independence and well-being of the elderly, today announced the results of a three-month pilot study conducted jointly with Seasons Retirement Communities (“Seasons”). The results of the pilot study demonstrated more than 97% drug adherence, which represents a 38 percentage point increase in adherence from a baseline for patients equipped with electronic monitoring devices (Claxton , AJ 2001).
The pilot study, which involved 24 independent residents in Three Seasons retirement communities located in Ontario, used anonymized data to determine whether a resident’s medications were delivered on time, early, late, or if they had been forgotten altogether. Following the success of the pilot study, CareRx, AceAge and Seasons intend to work together to offer Karie in all of Seasons’ retirement communities through Ontario and Alberta.
“Karie offers Seasons the opportunity to offer a medication adherence support program that is tailored to the specific needs of our residents,” said Leigh Anne Voll, COO of Seasons Retirement Communities. “If a resident misses a dose of their medication regimen, Karie automatically notifies our wellness team so that she can follow up with the resident. Karie is an excellent technological solution that provides all members of a resident’s circle of care with peace of mind while encouraging the resident’s independence. “
“CareRx constantly strives to offer a range of innovative solutions that help our home partners ensure a safe and effective medication management program,” said David Murphy, President and CEO of CareRx. “We are excited about the resounding success of this pilot study and look forward to supporting Seasons and AceAge with the deployment of Karie to other Seasons retirement communities. “
“The results of the pilot study are a strong indication of the effectiveness of Karie in ensuring medication adherence among residents of elderly communities and reducing the risk of hospitalization,” said John simmons, CEO of AceAge.
CareRx has a distribution and supply agreement with AceAge for Karie, as well as a related investment in AceAge under which it currently owns approximately 11% of AceAge.
About AceAge and Karie
AceAge is a health technology company that creates intuitive products to aid the aging process and improve health outcomes. AceAge’s product, Karie, is a smart pill companion that organizes, schedules and delivers pills, ideally suited for those who need to manage 3 or more medications simultaneously. Karie was designed to make medication management as easy as possible to ensure the independence and well-being of the user, while providing peace of mind to caregivers. Designed for people taking multiple medications, especially seniors living independently or without full-time care, Karie is an innovative device that simplifies complex drug regimens by automatically delivering prescription drugs, at the right dosage, at the right time. .
CareRx is from Canada leading provider of pharmacy services for older people living in communities. We serve over 92,000 residents in over 1,500 seniors and other collective care communities (long-term care homes, retirement homes, assisted living facilities and group homes). We are a national organization with an extensive network of strategically located pharmaceutical distribution centers across the country. This allows us to deliver medications in a timely and cost effective manner and to respond quickly to routine changes in medication management. We use cutting-edge technology that automates the preparation and verification of multidose drug compliance packaging, providing the highest levels of safety and adherence for people with complex drug regimens. We play an active role in working with our home operator partners to promote the health of residents, staff training and the quality and efficiency of the medication system.
About the seasons
Founded in 2009, Seasons is a Canadian company that owns and operates retiree communities in Ontario and Alberta. Our management team has extensive experience in the senior housing industry and has developed a culture dedicated to providing residents with superior customer service. We want our residents to feel proud to call us home and to know that they are surrounded by people who genuinely care about us.
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. These forward-looking statements include, among others, statements regarding the business strategy, plans and other expectations, beliefs, goals, objectives, information and statements of CareRx regarding possible future events. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate” or similar expressions suggesting future results or events. These forward-looking statements reflect the current beliefs of management and are based on information currently available to management.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include CareRx’s exposure and dependence on government regulation and funding, CareRx’s liquidity and capital requirements, exposure to an outbreak or pandemic, acquisitions and integrations. undertaken by CareRx, the highly competitive nature of the CareRx industry, the use of key customer contracts and other risk factors described from time to time in reports and briefs filed by CareRx with agencies and commissions Canadian Securities Regulators. These and other factors should be carefully considered and readers should not place undue reliance on CareRx’s forward-looking statements. Due to the foregoing and other factors, no assurance can be given as to such future results, levels of activity or achievements and neither CareRx nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.
SOURCE CareRx Corporation
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