QuVa Pharma Completes Acquisition of LogicStream Health

Author Archives: Betsy Keenan-Brown

  1. QuVa Pharma Completes Acquisition of LogicStream Health

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    Combination Creates Integrated Platform of Compounded Medications, Distribution Services, and AI-Powered Data Solutions

    Uniquely empowers customers to proactively combat drug shortages and rising pharmacy costs through predictive analytics and insights that support inventory management, clinical utilization, and provide benchmarking so health systems can achieve greater value through operating more effectively and efficiently

    Sugar Land, TX – July 25, 2024 – QuVa Pharma, Inc. (“QuVa”), announced today the acquisition of LogicStream Health, Inc. (“LogicStream”), the Minneapolis, MN, based SaaS software informatics platform providing market-leading, cloud-based intelligence to healthcare system pharmacies. LogicStream’s machine learning and predictive analytics generate differentiated insights needed for customers to solve their most difficult problems, including addressing drug shortages. LogicStream will operate as a wholly owned subsidiary of QuVa.

    The combination establishes a progressive platform of integrated healthcare solutions combining the national scale of QuVa’s market leading sterile compounding services and direct distribution capabilities, with LogicStream’s innovative clinical process improvement pathways, drug shortage predictive analytics and management workflow, and robust drug diversion detection expertise. As QuVa is the largest 503B Outsourcing company serving U.S. hospitals and health systems, the combination offers QuVa’s customers unparalleled support harnessing data and insights through earlier detection and mitigation of drug shortages, and efficient formulary management review and peer health system benchmarking. Debt funding for the acquisition was provided by funds managed by Blue Owl Capital.

    “QuVa is singularly focused on solving our customers’ pharmacy concerns. We recognize that improving patient safety and meaningful sustained expense reductions will deliver value creation for health system pharmacies. The key to achieving this is through the combination of smart data analytics and high quality ready-to-administer medications,” said Stuart Hinchen, QuVa co-founder and CEO. “As one of the largest purchasers of sterile generic medications from pharmaceutical companies in the country, our purchasing experiences will greatly enrich the predictive analytics of LogicStream’s core drug shortage management solution. With over 3,000 hospitals and ambulatory clinics as our customers, LogicStream’s clinical utilization product will be able to offer customers an opportunity to compare and benchmark their formulary guidelines and management activities with those of other health systems to understand best practices,” added Lynn Eschenbacher, PharmD and Chief Pharmacy & Strategy Officer, and Mike Scouvart, Chief Commercial Officer.

    LogicStream’s solution leverages advanced AI models to meticulously analyze vast clinical datasets and provide deep and powerful insights into real-time drug utilization trends, emerging and existing drug shortages, diversion behavior, and patient outcomes to help health systems make informed and timely decisions, reduce costs and improve compliance and outcomes

    “We focus every day at the intersection of technology and healthcare and I believe this area has immense potential for improving patient outcomes while simultaneously driving clinical, financial and operational efficiencies,” said Patrick Yoder, PharmD and Co-founder and CEO of LogicStream. “Innovation isn’t just a buzzword, it’s the lifeline that propels us forward to shape the future of healthcare delivery and transform pharmacy management and operations for years to come. My team and I are excited to join QuVa. We are committed to the combination of the leading 503B pharmacy services platform coupled with intelligent insights gained from our models and software designed to drive real improvement and generate stronger health system financial sustainability for health system pharmacy partners.”

    For 503B product ordering inquiries, please contact QuVa Customer Service at 888-339-0874 or via email at: Customer.Service@QuVaPharma.com. For software and data services inquiries, please contact LogicStream at 877-270-5795 or via email at: sales@logic-stream.net.

    For media inquiries please contact

    Forrest McCaleb at media.relations@QuVaPharma.com

    About QuVa Pharma, Inc.

    QuVa is a national, industry-leading, FDA registered 503B outsourcing services company that provides hospitals with essential medications in ready-to-administer injectable formats that are critical for effective patient care. QuVa was purpose-built to change the 503B industry for the better and is leading the way with its significant expertise in cGMPs and sterile pharmaceutical manufacturing, and a focus on ensuring compliance with the highest quality and safety standards so hospitals can more confidently and reliably focus on patient care. While leading cGMP processes, broad sterile-to-sterile product portfolio, and expansive capacity of 300,000 sq. ft. across multiple facilities are the foundation of our success, it is with customer-focused services, transparency, and a patient-safety orientation that we help hospitals better meet their patient care and operational needs. For more information, please visit www.quvapharma.com or follow QuVa on LinkedIn at https://www.linkedin.com/company/quvapharma-inc-/.

    About LogicStream Health, Inc.

    LogicStream is trusted by a growing community of high-performing healthcare providers and partners to generate clinical insights from clinical data. The Company’s cloud-based clinical intelligence platform gathers, normalizes, and connects clinical data. It houses years of experience in its automated processing, advanced analytics, and machine learning. This platform serves as an underpinning for the company’s software-as-a-service (SaaS) clinical insights, data services, and life science products. As a result, customers reduce cost, improve outcomes, improve the supply chain, and accelerate research and development. Customers are generating millions of dollars in ROI from clinical intelligence from the LogicStream platform. The professionals at LogicStream work hard every day to improve health by precisely translating clinical data into clinical intelligence. For more information, visit our home page.

  2. A Milestone in Innovation and Customer-Centricity

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    Unveiling our 3rd Generation Drug Shortage Prediction AI Model

    Greetings,

    LogicStream reached a significant milestone the other day! I am super-excited to announce the launch of our third-generation drug shortage prediction AI model. This is much more than a regular update; it’s a major advance of technology born from dedication, innovation, and an unwavering commitment to our customers.

    A Journey of Innovation

    When we embarked on the journey to create a software solution to help health systems manage drug shortage, our mission was clear: make it easy to know which drugs are on the ASHP and FDA drug shortage list and support management and communication workflows. This was a great first step built in collaboration with our customers. We quickly knew the product needed more though and we embarked on the development of our v1 AI prediction model which laid the groundwork, introducing robust capabilities that began transforming workflows. The second generation refined these capabilities, incorporating more sophisticated algorithms and broader applications.

    Today, with our third-generation model, we’ve entered a new era. This model isn’t just advanced; it’s a mature and validated ensemble of models with a ‘glass-box design’. This means not only does this model predict drug shortages 30, 60 or 90 days in advance of traditional reporting mechanisms, predictions are presented in our SaaS application with the context of the important factors that drove the prediction, with the severity and predicted duration. It’s a testament to our commitment to continuous improvement and our dedication to pushing the boundaries of what AI can achieve.

    Listening to Our Customers

    The true power of our AI model lies in the voices of our customers. Over the past 10+ years, we have actively sought and incorporated feedback from you. We’ve listened to your challenges, your needs, and your aspirations. Each piece of feedback has been a building block in the development of this model.

    You asked for greater accuracy and reliability. We responded by enhancing our machine learning algorithms and expanding our training datasets. You needed more understanding around why our software made certain predictions, so we implemented what AI data scientists commonly call a glass-box design exposing the predictive factors. You wanted seamless integration. We worked hard to ensure our AI will dovetail with your existing systems and workflows.

    Looking Ahead

    The launch of our third-generation AI model is a significant step forward. We are committed to innovation and excellence, always striving to stay ahead of the curve and deliver unparalleled value to our customers.

    We are deeply grateful to our community of users, partners, and stakeholders who have supported us and provided invaluable insights. Your collaboration has been instrumental in shaping this model, and we are excited about the possibilities it opens for you.

    As we move forward, we encourage you to continue sharing your feedback and experiences. Together, we will keep pushing the boundaries of what’s possible, driving progress and creating solutions that truly make a difference.

    Thank you for being a part of this incredible journey. Here’s to a future powered by innovation, collaboration, and the limitless potential of AI. Better data, better healthcare.

    Until Next Time,

    Patrick

    Next Step: Schedule your personalized demo

    Let us show you how LogicStream Health is helping other health system Pharmacies use clinical data to make sound decisions about drug shortages, and drug supply in general. Read an overview about the Shortage Navigator, get answers to your questions and schedule your demo by clicking the button below!

    Schedule Demo

  3. Biopharma Optimization

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    My last post summarized the insightful conversation among a group of pharmacy execs at leading health systems across the U.S.  In that session Biopharma was a popular topic – specifically biopharma optimization.  Today, I am excited to share LogicStream’s latest innovations in his area. I believe our progress will lead to the betterment of healthcare systems and patients alike.

    At LogicStream, every day we focus on the intersection of technology and healthcare. It is an area where I believe there is immense potential for improving patient outcomes while simultaneously driving operational efficiencies.  This vision drives our journey to developing cutting-edge solutions tailored for healthcare’s complex dynamics, particularly within pharmacies serving the biopharma sector.

    Today, one of our flagship offerings is locked into population analytics of biologic drugs and their biosimilars.  Our AI platform meticulously analyzes vast clinical datasets to provide deep and powerful insights into drug utilization trends, efficacy profiles, and patient responses. By empowering healthcare providers with this knowledge, our software enables them to make informed and timely decisions regarding treatment protocols. Health care systems can then maximize their profit margin potential while providing high quality patient care.

    LogicStream’s commitment to healthcare optimization doesn’t stop there. Understanding the importance of payer mix and the broader economic landscape surrounding biopharma treatments is a key requirement. LogicStream’s technology platform goes beyond mere analytics.  It wraps contextual information around departments and physicians prescribing these drugs. It also provides insight into patients – for example where they are receiving their treatments. This advanced technology also digs into the intricacies of healthcare economics, by analyzing factors such as the 340B program, care settings, and cost impacts.  This is truly amazing stuff!

    At LogicStream, we firmly believe profitability and patient well-being are symbiotically linked. Optimizing operational efficiencies and treatment protocols delivers dual objectives, financial sustainability and improved healthcare outcomes. Our platform provides a holistic approach to biopharma optimization by prioritizing economic viability AND patient-centric care.

    LogicStream is driven by a commitment to leveraging data for the betterment of humanity. The power of AI and analytics will usher in a new era of healthcare excellence—one where data-driven insights pave the way for transformative change.

    As we continue to innovate, I invite you to join us on this remarkable journey. Together, we will redefine the possibilities of biopharma optimization with data and create a healthier, more prosperous world for all. Better data, better healthcare.

    Until Next Time,

    Patrick

  4. Unveiling Tomorrow’s Solutions: A Pharmacy Roundtable Event 

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    LogicStream hosted an event recently that, for me, illuminates the path to the future. Several of the most accomplished pharmacy operations executives in the business joined the roundtable discussion. It was a platform for current and potential customers to talk about market forces their teams are facing.  And it was a chance for our team to discuss several innovations we’re developing to address opportunities and challenges in the market. In the bustling landscape of pharmacy operations, innovation isn’t just a buzzword; it’s the lifeline that propels the industry forward, shaping the future of healthcare delivery. 

    Leaders from several health systems kicked things off by discussing the top market forces driving their strategic priorities. These executives provided valuable perspective and insight on topics like bio-pharma optimization, supply chain transparency, and measuring and reducing the impact of drug shortages. It was an energetic, dynamic, collaborative discussion covering real challenges and a range of innovative solutions.  I am confident these insights will drive real improvement for health system pharmacy teams in the near future.  

    One key highlight was the review of advanced AI models being developed by LogicStream’s data scientists. The models promise to help health systems proactively manage risks of drug shortages before they occur. The pharmacy executive response to the insights generated by these models was very positive. As a group, a shared sense of active partnership emerged, with strong interest driving the immediate direction of these innovations. Collaboration like this is energizing and powerful! 

    Bringing together these thought leaders regularly, I believe, will ignite transformation and shape the future of pharmacy management and operations for years to come.  Indeed, it will lead to improved patient care and safety, as well as stronger health system financial performance. We are looking forward to the first two of many roundtable breakout sessions scheduled in the coming weeks, where as a community we will continue this process of advanced solution design in partnership. 

    Stay tuned for future posts.  I’ll be dropping more details about the emerging innovations from these leaders and our team. Together, with the meaningful application of data and AI, we will build a future of drug supply chain safety, efficiency, and resiliency. Better data, better healthcare.

    Until Next Time,

    Patrick

  5. LogicStream Health Highlighted by KLAS for Drug Shortage Software 

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    MINNEAPOLIS – April 09, 2024 – LogicStream Health, the leading drug shortage management software firm supporting hundreds of hospitals nationwide, today announced the company has been highlighted by KLAS in the research firm’s latest report analyzing drug shortage software. LogicStream’s Shortage Navigator software achieved high scores by customers, according to KLAS, for its capability to deliver “significantly improved shortage recognition, navigation, and communication. LogicStream Health is highlighted for their strong support team that listens to feedback and delivers on requests.” 

    One director interviewed by KLAS noted, “When we have a shortage, there is a lot of information available to us. The system tells us whether the shortage is getting better or worse or whether it is staying the same. It also helps determine where the item is used and adjust order sets so that we diminish the amount that we are using for the shortage. The system is good at tracking.”  

    “Drug shortages are a significant, persistent problem that represent a serious risk to patient safety and health,” said Patrick Yoder, PharmD, LogicStream Health CEO and co-founder. “We are honored to be recognized by KLAS in its report for our groundbreaking software innovations that have been consistently helping our healthcare customers since 2018 provide the highest quality of care to their patients.” 

    LogicStream’s Shortage Navigator software received an overall performance score of 87.8 (limited data) from KLAS in its March 2024 “Emerging Company Spotlight”.  The report reveals an overwhelming number of customers as satisfied or highly satisfied with Shortage Navigator. In addition, more than 80 percent of customers surveyed indicated to KLAS that they would buy the LogicStream Shortage Navigator software again. Other notable customer comments in the KLAS report show LogicStream Health as a highly responsive vendor that “keeps all promises” and delivers a product that “works as promoted.”  Said one analyst customer: “I admire LogicStream Health’s connectivity. The vendor offers so much meeting support. That is great. Every time I have an opportunity for improvement for LogicStream Health, I give the opportunity to them, and they do it.” 

    About KLAS 

    KLAS is a research and insights firm on a global mission to improve healthcare. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software and services to deliver timely reports and performance data that represent provider and payer voices and act as catalysts for improving vendor performance. The KLAS research team publishes reports covering the most pressing questions facing healthcare technology today, including emerging technology insights, that provide early insights on the future of healthcare technology solutions. KLAS also fosters measurement and collaboration between healthcare providers and payers and best practice adoption. Learn more at klasresearch.com. 

    About LogicStream Health 

    LogicStream Health is trusted by a community of high-performing healthcare providers across the United States. The company’s software-as-a-service (SaaS) platform stands alone in its ability to help customers gain instant insights to improve vital clinical processes and patient care. As a result, customers reduce cost and improve outcomes. Healthcare customers are saving millions of dollars with the LogicStream Health software. LogicStream’s Shortage Navigator software is used by hundreds of hospitals because it is ‘must-have’ technology enabling clinical teams to quickly respond to and manage drug shortages. For more information, please visit www.LogicStreamHealth.com.