Custom Health acquires Spencer Health tech, cuts hardware costs in half

Custom Health Holdings (TSX:CHLT) CEO Shane Bishop tells Proactive that the company's acquisition of Spencer Health Solutions has cut hardware costs roughly in half, delivering an immediate margin improvement at the per-patient level. Bishop says the move eliminates duplicated support and cellular coverage costs that existed when the two companies operated separately, and gives Custom Health full control over the product roadmap. Bishop explains that Custom Health had been integrating Spencer Health's medication management device into its core clinical model for several years, and that the technology had already become embedded in the company's operations. With a second-generation device already developed, the priority now is directing its AI and voice-activation capabilities to collect more real-time patient data and feed it into clinical workflows. On growth strategy, Bishop says that knowing the exact baseline cost of the device means Custom Health can now be more aggressive in pursuing new provider and health plan contracts. He describes previous hesitation in the market as partly linked to cost uncertainty, and says that barrier has now been removed following the acquisition. Custom Health Holdings (ticker: CHHC) is a medication management and clinical services company. Shane Bishop is the CEO. #CustomHealth #CHHC #medicationmanagement #digitalhealth #healthtech #SpencerHealth #AIhealthcare #smallcap #investornews #ProactiveInvestors