SMRxT, a medical information technology and services company, chose to relocate its corporate headquarters from New York to Orlando. The relocation will create 55 new jobs and make a $582,000 capital investment to the region.
SMRxT specializes in prescription medication adherence with real-time information and smart sensor technology and has developed a solution that precisely records, monitors and quantifies the time and dose of patient has taken their medication, which allows healthcare providers and doctors to more closely monitor prescription medication intake and ensure the best method of treatment for patients.
Mike Huffer, R.Ph. M.S. President and CEO of SMRxT, said, “We are extremely pleased with our decision to move SMRxT Inc. to Orlando. We have also relocated our medication bottle manufacturing from Virginia and have been able to reduce manufacturing costs by 40%. The Central Florida community has welcomed us with open arms and is the exact healthcare and technology hub we were looking for.”
The SMRxT expansion was made possible through partnerships between Enterprise Florida, the Florida Department of Economic Opportunity, the Orlando Economic Development Commission, City of Orlando, and IQ Orlando, the new corporate partnership between Florida Hospital, UCF, Tavistock and the AHG Group.
“The American Heart Association estimated that three out of four Americans do not take their medication as directed,” Orlando Mayor Buddy Dyer said. “With this technology from SMRxT, we hope to reduce the nearly $300 billion a year cost to the health care system in additional doctor visits, emergency department visits and hospitalization from medical non-adherence.”
“SMRxT’s inventive new technology expands on the recent growth of medical innovation in the region,” Rick Weddle, president and CEO of the Orlando Economic Development Commission (EDC) said. “We are very excited to see the forward progression of this company and the positive impact it will have on the community.”
“Our vision is to grow Central Florida’s life science and healthcare cluster through a new corporate partnership that’s focused on launching, recruiting and funding companies that ultimately improve the health of the population, increase access and lower the cost of health care,” said Rick Wassel, Managing Director of IQ Orlando. “SMRxT, with its smart sensor and software technology, is pioneering medical products to reduce healthcare costs and improve individual health outcomes.”
IQ Orlando (IQO) was launched in early 2015 focused on building and developing Orlando’s life science and healthcare cluster by bringing together four strategic partners including the University of Central Florida, the Tavistock Group, AHG Group and Florida Hospital.