PharmChem, a Fort Worth-based maker of sweat patch drug detection products used in long-term monitoring programs, has been acquired by Colorado-based Alcohol Monitoring Systems in a $3.75-per-share cash deal.
PharmChem (OTC: PCHM) said the share price represents a 22% premium over its $3.07 closing price on Jan. 31, just before it announced plans to explore strategic alternatives.
The acquisition expands Alcohol Monitoring Systems’ presence in compliance-based drug and alcohol monitoring technologies. The Colorado company—known for its SCRAM Systems product line, which includes ankle-worn devices that monitor alcohol levels through perspiration—said the deal enhances its capabilities in drug detection and complements its existing alcohol and location monitoring technologies.
PharmChem’s signature product—the PharmChek Sweat Patch—is a tamper-resistant, continuous-wear patch used to detect drugs of abuse over extended periods. The company, founded in 1971, has operated from Fort Worth for more than three decades and underwent a leadership transition in 2021 aimed at strengthening sales, marketing, and customer experience.
In a statement, Board Chairman Tim Eriksen said the successful outcome of the company’s strategic alternatives process “validates the board’s belief that PharmChem and its products are well positioned in the industry.” He added that the company’s long-term value would be better realized as part of a larger organization.
Interim CEO Thompson Clark said the deal followed a competitive process with multiple interested parties. “It’s not every day that a deal benefits all stakeholders, but this is one of those days,” he said.
Alcohol Monitoring Systems CEO Chris Linthwaite called the acquisition a strategic fit. “Our customers are tackling tremendous complexity in accomplishing their public safety mission,” he said. “This expands our organizational capabilities and supports our commitment to meet those growing needs.”
Financial terms beyond the share price were not disclosed. The transaction is expected to close before the end of the third quarter.
Don’t miss what’s next. Subscribe to Dallas Innovates.
Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.
R E A D N E X T
-
With 2,000 employees across more than 40 offices and eight video monitoring centers, Addison-based Stealth Monitoring says it monitors more than 100,000 cameras every night, resulting in "the deterrence of more than 50,000 criminal activities, more than 1,000 arrests, and the analysis of roughly 70,000 customer videos annually."
-
Principle said its acquisition of the North Texas-based mobile imaging provider underscores its commitment to offering comprehensive, high-quality diagnostic services to the long-term care community.
-
Chris Carrillo will join NTREIS June 1, coming from his role as CEO of Metro MLS in Milwaukee. NTREIS said the real estate industry is experiencing "tremendous innovation and transformation" and that Carillo will provide leadership for the opportunities that lie ahead.
-
Optiphase said the decades of experience brought by Dr. Evgenie Ganev and Dr. Karl Schultz in electrification, aerospace, and propulsion systems will strengthen its efforts to innovate next-generation electric propulsion systems.
-
Ranaan Horowitz has more than 30 years of leadership experience across the defense, commercial aviation, and healthcare sectors. Catalyze said he has a proven track record of driving growth and overseeing strategic acquisitions.
![Erica Kosemund, Chief Brand Officer, Choctaw Nation of Oklahoma; Gillian Breidenbach, Chief Partnership Officer, North Texas FWC Organizing Committee; Chief Gary Batton, Chief of Choctaw Nation of Oklahoma; Monica Paul, Executive Director of Dallas Sports Commission and President of North Texas FWC Organizing Committee; John Hobbs, Senior Executive Officer of Communications, Choctaw Nation of Oklahoma; and Heidi Grant, Senior Executive Officer of Commerce Administration, Choctaw Nation of Oklahoma, celebrate Choctaw Casinos & Resorts becoming an Official Dallas World Cup 2026 Host City Supporter. [Photo: North Texas FWC Organizing Committee/Choctaw Casinos & Resorts]](https://s24806.pcdn.co/wp-content/uploads/2025/12/FIFA-Choctaw-dec-2025-75x69.jpg)
![Erica Kosemund, Chief Brand Officer, Choctaw Nation of Oklahoma; Gillian Breidenbach, Chief Partnership Officer, North Texas FWC Organizing Committee; Chief Gary Batton, Chief of Choctaw Nation of Oklahoma; Monica Paul, Executive Director of Dallas Sports Commission and President of North Texas FWC Organizing Committee; John Hobbs, Senior Executive Officer of Communications, Choctaw Nation of Oklahoma; and Heidi Grant, Senior Executive Officer of Commerce Administration, Choctaw Nation of Oklahoma, celebrate Choctaw Casinos & Resorts becoming an Official Dallas World Cup 2026 Host City Supporter. [Photo: North Texas FWC Organizing Committee/Choctaw Casinos & Resorts]](https://s24806.pcdn.co/wp-content/uploads/2025/12/FIFA-Choctaw-dec-2025.jpg)
