Wizzard Acquisition of MedivoxRx Technologies Moves Ahead
PITTSBURGH - Wizzard Software (OTCBB:WIZD) announced that it is in the final stages of its document preparation and due diligence review to acquire all outstanding shares of MedivoxRx Technologies Inc. Wizzard's management anticipates that, subject to completion of the matters described above, the acquisition will close by April 20, or sooner, as circumstances permit.
As the transaction has been moving forward, MedivoxRx's management has been busy executing on their business plan including the completion of its first "Rex" talking bottle incorporating speech technology. In private viewings at both the CSUN Accessibility Conference in Los Angeles and the AVIOS~SpeechTEK conference in San Francisco in recent weeks, management felt the new product was well received. Additionally, MedivoxRx completed its second round of submissions for FSS governmental pricing and is in the midst of completing a pilot program introduction shipment to more than 150 pharmacies across the United States.
There are approximately 3.2 billion prescriptions filled each year in the United States and pharmaceutical errors create $45-$80 billion in additional medical spending with the number one error being identified as labeling problems and education. The problem of non-compliance is expected to escalate as the number of elderly double in the next 25 years. Wizzard plans to use "Rex" as an initiating technology for its overall compliance to prescription medication solution that, in future offerings using speech technology,
- Up to 30 different speech synthesized languages for domestic and international markets
- Audio volume control for people with hearing impairments
- Audio "time to take your medicine" reminders
- Audio "exceeding dosage amount" warnings
- Audio refill prescription reminder
- Automated telephone consumption reminder
- Automated telephone refill reminder
- Automated telephone refill ordering system