Two Montgomery County independent watchdog organizations dedicated to patient safety signed a definitive affiliation agreement Wednesday.
Financial terms of the deal involving ECRI Institute in Plymouth Meeting and the Institute for Safe Medication Practices of Horsham were not disclosed.
Under the deal, the Institute for Safe Medication Practices will become an ECRI Institute subsidiary. It will operate as a wholly-owned subsidiary of ECRI. The closing is tentatively set to occur on Jan 2.
Michael Cohen, the president of the Institute for Safe Medication Practices, said the affiliation will allows both nonprofit organizations to retain their core missions and extend their ability to share life-saving information and help make safe, high-quality health care more readily available.
"We look forward to this new chapter," Cohen said.
Founded in 1994, the mission of the Institute for Safe Medication Practices is devoted entirely to preventing medication errors and being a source for medication safety information. Its advocacy work has resulted in changes in clinical practice standards, public policy, and drug labeling and packaging.
ECRI Institute, founded in 1968, works to improve the safety, quality, and cost-effectiveness of health care across all settings. It conducts evidence-based research and extensive medical device testing to make recommendations for minimizing risk and improving patient care.
