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capnmike

04/13/08 6:10 AM

#25728 RE: sanddollar #25727

Jim Stevenson says the blue machine on his pharmacy's countertop provides peace of mind. Jim Stevenson/pharmacist: "Particularly in a pediatric hospital where you've got high-risk drugs and very small patients." Pharmacists who dispense millions of doses know that even the smallest mistake can be deadly. Valimed takes human error out of the equation. Jim Stevenson/pharmacist: "We put a small sample of the product we want to test into the device. It shoots ultraviolet at the sample." The machine compares the sample to what's called the "fingerprint" of that particular medication. If the dose is mixed just right, the machine validates it. Jim Stevenson/pharmacist: "This technology was initially devised to help detect explosive devices with homeland security." The University of Michigan's Children's Hospital is the first in the country to use this technique to double-check drugs. Phil Mapes/father: "It's comforting to know that they're taking the extra step." For Phil Mapes' 15-year-old daughter Megan, Valimed helps balance some very high-risk medications. Phil Mapes/father: "Dopamine, she's on morphine for pain, I don't know what they all are, but there's a bunch of different ones." Twenty percent of all drug errors have serious consequences. With medication regimens getting more complex every year, Valimed provides an extra layer of safety.

http://abclocal.go.com/wpvi/story?section=healthcheck&id=3587503

The Inpatient Pharmacy Services, consistent with the values of the University of Michigan Hospitals and Health Centers, places a priority on patients and family, teamwork and never-ending improvement.
The Department is responsible for dispensing medications daily for an average inpatient population of 800 patients between the University and Mott Hospitals combined. Additional services are provided to support the outpatient and clinic settings.

Inpatient Pharmacy Statistics
• 3.1 milllion prescription orders processed per year
• 21,000 doses of oral medications dispensed per day
• 5,200 doses of intravenous medications dispensed per day
• 1.4 million doses of medications packaged per year
• 25,600 chemotherapy products prepared annually

Phan H, Pasko DA, Mitchell JF, Shoemaker DS, Glenn DK, Stevenson JG. Beyond the human eye: using the ValiMed system to validate high-risk intravenous medications. Pharmacy Purchasing and Products 2005; 2(6):31.

http://www.pharm.med.umich.edu/public/2006_annual_report/2006_annual_report.pdf

ValiMed™ Product Line

- Saves lives

Validation of Compounded Medications:

ValiMed

High Risk Medications and Narcotics

Price: $25,000 – $50,000 (varies by the requested formulary)

Consumables/services over $15,000 per year

Initial target market is large hospital pharmacies (over 10,000 worldwide)

http://www.sec.gov/Archives/edgar/data/1173738/000121465907001919/ex99_1.htm

Consumables/services over $15,000 per year per machine eh?