The InforMedix-TEOCO alliance will be used to further develop InforMedix's e-health business, and TEOCO's Healthcare Solutions Group, including enterprise-wide software applications for the entire health care industry. The alliance will jointly develop, market, and license InforMedix's patented, patient monitoring software applications to a wide variety of health care companies. This will be combined with TEOCO's Internet-accessible database applications which enable worldwide access to secure data across multiple platforms.
InforMedix's will utilise its Internet-enabled patient monitoring database, which combines its Med-eMonitor system with TEOCO's DREAM or Dynamic Rapid Enterprise Application Method platform, to provide ASP services to its customers. The Med-eMonitor system incorporates TEOCO's DREAM to manage business logic and screen generation rules.
Bruce A. Kehr, M.D., Chairman and CEO of InforMedix, and inventor of the Med-eMonitor system, commented: "We are extremely pleased that our expanded relationship with TEOCO will drive new revenue opportunities for both companies. The alliance will further InforMedix's intellectual property strategy of filing early, filing often, as well as pursuing license revenue opportunities beyond our Real-Time Patient Monitoring Services."
John Beresny, General Manager of TEOCO's Healthcare Solutions Group, stated: "We are very excited about combining the pre-existing software, know how and intellectual property of both companies, to provide lower-cost, cutting-edge solutions to health care customers who will be integrated into their heterogeneous systems and existing platforms."
InforMedix Inc., headquartered in Maryland, manufactures and markets the Med-eMonitor system, a portable, patient-based e-health and telemedicine technology which monitors medication compliance and electronically links patients and health care professionals to improve health outcomes, and reduce medical errors and health care costs for multiple diseases.
The Med-eMonitor system can perform all of these functions for e-health companies, pharmaceutical companies, pharmacies, Health Management Organisations, managed care organisations, clinical research organisations, home health companies, health care providers, and adult children with elderly parents.
TEOCO, The Employee Owned Company, based in Fairfax, Virginia, is a provider of Web-based software solutions and professional consulting services to some of the world's largest companies in the health care, energy, and telecommunications industries. TEOCO, named to this year's Inc. 500 list of fastest growing companies, is specialising in the development of Web-based business solutions, network cost management solutions, as well as enterprise systems. TEOCO is an incubator for start-up Internet technology companies and recently successfully launched NetgenShopper.com and Eventrix.com.