E-prescribing service provider PocketScript is not getting a new lease on life after all.
On Thursday, New York City-based transaction software developer Medix Resources said it has terminated its previously announced agreement to acquire the cash-strapped PocketScript, based in Mason, Ohio.
According to Robin Schoen, a public relations consultant retained by Medix, company officials concluded during due diligence on PocketScript that the deal would not be as beneficial as previously thought.
"The cost-reward ratio was not favorable," Schoen says.
However, Medix still will be entering the e-prescribing business with its purchase on Wednesday of point-of-care technology previously used by ePhysician, which went out of business in November.
Medix says it bought the prescribing technology from Comdisco Ventures, an ePhysician creditor.
"My understanding is that these two deals are unrelated," Schoen says. She could not provide further details.