Today CareDx (Nasdaq: CDNA), announced it has agreed to acquire OTTR Complete Transplant Management (“OTTR”), the leading provider of organ transplant patient tracking software.
OTTR Complete Management provides comprehensive solutions for transplant patient management, which are currently used in over 60 leading transplant centers in the US. OTTR’s solutions enable integration with electronic medical records (EMR) systems, including Cerner and Epic, providing patient surveillance management tools and outcomes data to transplant centers.
CareDx will pay approximately $16.0 million to acquire OTTR and intends to fund the transaction with cash on hand. For the full year 2019, OTTR’s revenue is projected to be in the range of $6.0 million to $8.0 million, and its net income is expected to be breakeven. The transaction is expected to close in May 2019.
“CareDx and OTTR are very aligned in their dedication to improving outcomes for transplant patients,” said Peter Maag, CEO of CareDx. “The integration of OTTR solutions into transplant center EMR systems will simplify the logistics of ordering AlloSure or AlloMap testing for patients. This acquisition marks the beginning of CareDx’s leadership in transplant artificial intelligence as we integrate surveillance management tools and provide a solution for individualized patient outcomes.”
“This is a perfect fit for our organization, we bring the solid organ transplant patient tracking and data management tools that will simplify the ordering process for CareDx’s leading surveillance tests, optimize transplant patient safety, increase efficiency and facilitate compliance. Together we will make a major difference, not only in individual centers but to individual transplant recipients,” says Mike Donnell, Co-CEO and Chief Marketing Officer of OTTR.
