SOURCE: TabSafe Medical Services, Inc.

TabSafe Medical Services, Inc.

April 20, 2009 13:56 ET

TabSafe Announces Merger and New Technology

ROSWELL, GA--(Marketwire - April 20, 2009) - TabSafe Medical Services, Inc., a medical device company that manufactures a leading medication dispenser and vital sign monitor for individuals living independently, has completed a definitive merger agreement with CHV I, LLC, an investment group that focuses on socially-responsible companies that provide innovative healthcare solutions. TabSafe Medical Services, Inc. is the surviving entity. This transaction will allow the company to accelerate the release of its newest system designed specifically for the home market in November. TabSafe's Model 102 will be more streamlined and will be enhanced to allow the recording of health data from a wide array of plug-in or wireless peripherals for the monitoring of vital signs such as blood pressure, blood sugar, and weight. The new TabSafe system will provide unlimited customizable reminders, three follow-up telephone calls if a medication is missed or a vital sign reading is out of range, and provides telephonic or web-enabled interoperability between the patients, their families, healthcare providers, and pharmacies. The medications can either be loaded by the individual, a caregiver, home care agency, or pharmacy, allowing for flexibility and choice to a wider range of consumers.

The TabSafe management team, led by James N. Chiavetta, its founder, will continue in their current roles. The team will be strengthened by the addition of Stephen L. Axelrod, M.D., a physician with a very successful track record of starting, operating, and selling innovative healthcare delivery companies.

"This is game-changing telemedicine technology," stated Dr. Axelrod. "I have been in healthcare for over thirty years and the TabSafe medication dispensing system is one of the most exciting things I have seen. These mHealth technologies will facilitate the movement to the patient-centered medical home. Managing medications, with alerting, monitoring and active follow up, has been proven clinically to be much safer and more cost-effective. It could save billions of dollars and more importantly, thousands of lives."

Dr. Axelrod continued, "Jim's vision and his committed team, coupled with strategic investors including a leading owner and operator of senior living communities, and Aircom Manufacturing with its wholly-owned subsidiary, Medivatives Technology, a well-established contract manufacturer for cutting edge medical device and pharmaceutical companies, has enabled TabSafe to produce this cost-effective, best-of-breed system. I'm just sorry my parents didn't have a chance to benefit from it."

James N. Chiavetta said, "TabSafe is well positioned in the high growth segment of healthcare information services where the use of technology to record medication adherence and then link to other health monitoring is finally being recognized and valued. Dr. Axelrod adds an in-depth knowledge of the complex healthcare landscape. This will enable TabSafe to more effectively respond to the needs of seniors who wish to maintain independence in their homes."

For more information regarding TabSafe, please visit www.tabsafe.com

Contact Information

  • Contact:
    James Chiavetta
    678-990-8450 X-3038