A University of Rochester Medical Center spinoff is one of 17 businesses across the state participating in the new initiative creating tax-free areas around colleges and universities.
PharmAdva LLC, a company launching a medication adherence system designed to extend the independence of elderly patients, is expected to create 132 net new jobs and invest $1.8 million in the region.
“The PharmAdva and University of Rochester partnership will continue to build on the economic momentum we have worked so hard to create by further positioning our region as a global leader in health care technology,” said Assembly Majority Leader Joseph Morelle, D-Irondequoit.
Gov. Andrew Cuomo on Tuesday announced 17 businesses across the state investing $14 million and creating at least 464 jobs. There are now 41 businesses participating in the Start-Up NY program, representing 1,750 new jobs and investments of more than $77 million, the state said.
Aimed at seniors taking multiple drugs, PharmAdva’s automatic pill dispenser— called the DOSEmgr—holds 90-day supplies of up to 16 different medications, doling out doses according to a user-programmed schedule.
When it is time for a patient to take a pill, the DOSEmgr sets off an alarm to prompt users to press a touchscreen that triggers release of the scheduled dose. The device keeps a record of doses dispensed. It also provides notifications when refills or prescription reauthorizations are needed and sends text-message alerts to caregivers if a patient misses a dose.
PharmAdva plans to locate in High Tech Rochester’s Lennox Technology Center. It is ramping up to test the device in the Rochester and Albany areas and expects to have the DOSEmgr on the market in the first quarter of 2015.
(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail [email protected].