U start-up acquired by large pharmacy company, Genoa
Medication Management Systems, a U-based start-up, was recently acquired by Genoa, the nation’s leading telepsychiatry and behavioral health pharmacy company.
Medication Management Systems (MMS) was the first company to get its start from the University of Minnesota’s Venture Center, which launches businesses around ideas and technology that are the offspring of University of Minnesota research.
MMS assists health insurers and patients by creating software that manages and monitors drug regimens, especially for patients who have more complex conditions. Research by Linda Strand, Pharm.D., Ph.D., D.Sc. and Bob Cipolle, Pharm.D., both retired University of Minnesota College of Pharmacy faculty, pioneered Medication Management Systems in 2006.
Genoa focuses on assisting patients with behavioral health issues, especially mental health disorders, to ensure they adhere to treatment plans.
Currently, MMS serves over 30,000 patients via health plans and large company deals, and is licensed by Medicaid and Medicare.
With a growing 370 pharmacies located in community mental health centers, Genoa’s footprint will allow MMS to better service patients across the nation.
Over 100 successful start-up companies have been launched by the Venture Center since its start in 2006. As its very first start-up, the success of MMS is indicative of the Venture Center’s value and potential for innovation in health care and technology.