Pfizer, Inc. (NYSE:PFE) has introduced the very first patient-controlled analgesica (PCA) infusion system that comes along with an electronic medical record (EMR) integration known as the LifeCare PCA 7.0 Infusion System. It is the only PCA pump integrated with bar code identification of both pre-filled and pharmacy-filled drug vials.
Significance of PCA Pump
According to Hospira, the LifeCare PCA 7.0 Infusion System improves the safety and efficiency of administering pain management medication with device auto-programming and infusion data documentation.
Annually, about 1.50 million patients suffer from medication errors, costing up to $21 billion. This is basically why the EMR integration is already a necessity. The bar code identification system ensures prevention of the occurrence of such cases. As a result, patients can be confident that only the right dosage of the right drug is being administered to them.
What PCA 7.0 Infusion System Means for Pfizer
Pfizer recently acquired Hospira in a deal worth nearly $16 billion. Since its establishment more than three decades ago, Hospira has been known to revolutionize pain management medication. Accordingly, Pfizer is taking bids for the subsidiary’s new PCA pump solutions, which can amount up to $2 billion.
Prominent bidders as of this writing include medical technology companies Fresenius Medical Care AG & Co. (NYSE:FMS) and Smiths Group plc (LON:SMIN), and private equity group Pamplona Capital. However, not all companies have yet confirmed any reports. The decision of Pfizer to offload the acquisition not so long after closing the deal has been justified after the company realized that the medical device business is not within its traditional pharmaceutical scope.
Julia Sawyer Montgomery, Hospira President for Infusion System, reiterated that the company is delighted to bring the very first PCA pump integrated with the EMR into reality. Furthermore, the new technology is an existing proof of Hospira’s commitment to delivering quality products that meet the varying demands of patients.
The LifeCare PCA 7.0 Infusion System can now be availed on a pre-order basis.