Omnicell Stock: Investing in Automated Pharmacy Tech

Those of a certain age may remember actor Matt Dillon’s greatest performance of his career as a drug addict who, with his drug-addled gang, busted into pharmacies to get a fix and make some cash. “Drugstore Cowboy” came out in 1989, but what the medical industry euphemistically calls “medication loss due to drug diversion” is still a problem for modern-day pharmacies, along with all of the challenges of managing medication in today’s highly regulated and inefficient medical system. But it requires more than just an app. A company that’s been around almost as long as that Gus Van Sant movie is building a platform to power the automated pharmacy. You had us at “drug diversion.” Let’s take a look at what Omnicell stock (OMCL) has to offer.

About Omnicell Stock

The origin story of Omnicell reportedly goes back to 1992 when a guy named Randall Lipps (no, really) saw nurses fumbling around to locate medical supplies while his daughter was in the hospital. Like any good father, he saw a business opportunity. He enlisted some grad students at Stanford University to develop an automated inventory management system for nurses, which could track transaction data, inventory, expenses, and even patient billing. This was 1993, and the company never looked back. A few years later, it developed automated medication dispensing systems for pharmacies, raised all of $20 million in 2000, and th