With the aim of strengthening its foothold in the lucrative Middle East market, Omnicell, Inc. (OMCL - Analyst Report), recently announced its decision to showcase its newly launched fourth-generation G4 solutions in theDubai International Pharmaceuticals and Technologies Conference and Exhibition (DUPHAT), scheduled from March 12 to 14, 2012 at the Dubai International Convention & Exhibition Centre. The DUPHAT is recognized as a major pharmaceutical event in the Middle East and North Africa.
The entire suite of solutions includes a single unified medication database, Savvy Mobile Medication System and the newly designed Anesthesia Workstation. The company will also display its new Medication Label Printer, which enhances perfection in medication administration with patient-specific labels. Omnicell is highly optimistic about this comprehensive set of applications developed on the industry leading G4 platform.
This decision on Omnicell’s part is concurrent with the company’s earlier participation at the Arab Health 2012 Congress and Exhibition in January 2012. Given the fact that very few hospitals have adopted medication control systems in the international market, Omnicell is presently working hard to establish its presence in the global arena, especially in markets with huge potential.
With several strategic choices, Omnicell is presently focused to drive growth and profitability, especially in the Middle East, which is gradually emerging as a strong medication and supply management solutions market. Earlier in May last year, Omnicell had set up its Middle East regional office and training center in Dubai, which is considered to be path breaking for medication and supply automation industry in that region.
Presently, outside the US, Omnicell operates in Canada, Europe, South America, Australia and Asia with supply chain sourcing in Asia. In November last year, Omnicell launched its Mandarin-language versions of the G4 platform for clinical use in China.
Notwithstanding the concerns arising from several macroeconomic uncertainties as well as intense competition from major players such as CareFusion Corporation ((CFN - Analyst Report) and McKesson Automation ((MCK - Analyst Report)), we are encouraged by Omnicell’s growth prospects globally.
Currently, Omnicell retains a short-term Zacks #3 Rank (Hold rating). Over the long term, we remain Neutral on Omnicell.