Thursday, 21 June 2018 01:02

MedAdvisor tackles global market in first-up US deal with PDX

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Australian digital medication management company MedAdvisor is looking to expand globally, announcing its initial entry into the US market via a marketing and licensing agreement with US-based PDX, a provider of clinical software and pharmacy solutions.

The agreement provides for the integration with MedAdvisor’s patient management and pharmacy software.

MedAdvisor says completion of the integration will enable it to provide pharmacies using PDX software with a complete solution to manage important digital customer interactions, including ordering through its SaaS app.  

Once integrated with PDX’s systems, MedAdvisor’s pharmacy software can be easily deployed into the 10,000-plus pharmacies that use PDX’s software, which the company says makes it faster and simpler to commence rollout in the US market and begin customer acquisition.

PDX is a large provider of clinical software and specialist pharmacy solutions, servicing 15% of the total 60,000-plus pharmacy market in the US and will support MedAdvisor in marketing its proposition.

The integration is planned to start in H1 FY19, following the scale-up of the development team to increase capacity to manage the integration and additional compliance, regulatory and operational effort for the US.  

MedAdvisor says integration with a major dispensary is the first key step towards the company’s international expansion, and as a result, its underlying operating expenses are expected to increase in H1 FY19.

According to MedAdvisor, the company is well funded to complete the integration, with a current cash position of $10.8 million as of 30 March, and it has significant capacity to continue its domestic expansion and to progress international opportunities.  

Robert Read, chief executive of MedAdvisor, said the agreement was the first step on the path towards commercialisation in the US.

“Our product has received fantastic feedback from pharmacy chains throughout the region and to get our product into their stores it is important that it is connected to the key dispensing systems in the US," he said.

“Dispensing systems are the backbone that enable pharmacies to order and receive medications for their patients and integration with a market-leading dispensing software in the US provides us with the first piece of the puzzle to securing a position in the US market.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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