Canadian digital health software company Think Research has acquired the assets of Irish software venture Pharmapod Limited through a receivership process.
A deal was agreed on Thursday between Think, Pharmapod, a receiver appointed to the company and Think’s European Union subsidiary, Think told investors.
Toronto-based Think said the acquisition would extend its clinical electronic data capture footprint. Pharmapod, which was active in the Canadian market, offers a cloud-based platform to reduce medication errors for patients and improve patient safety.
Think, which listed on the Toronto Stock Exchange last December, said the deal would help it service pharmacies, hospitals and long-term care facilities around the world, building upon its current reach. Pharmapod, founded in 2012, services more than 9,000 pharmacies throughout Canada, the UK, the Republic and Australia, including more than 7,400 pharmacies in Canada, representing 65 per cent of all Canadian retail pharmacies.
"We see great synergies with Pharmapod and are eager to increase our offerings to our growing network of international clinicians," said Think chief executive Sachin Aggarwal.
