Australian digital medication management company MedAdvisor has completed the formation of its 50-50 joint venture with Zuellig Pharma Holdings, one of the largest healthcare services groups in Asia.
Zuellig Pharma’s $US13 billion ($18.5 billion) business provides healthcare services to more than 350,000 medical facilities across Asia and works with more than 1,000 clients, including the top 20 pharmaceutical companies in the world.
The Singapore based joint venture, named ZP MedAdvisor (ZPM), aims to commercialise MedAdvisor’s medication management platform across Asia.
ZPM will initially provide SMS based digital adherence programs in two markets (Philippines and Malaysia), leveraging MedAdvisor’s approach in the US. ZPM will also market MedAdvisor’s leading pharmacy and patient medication management solution within the region.
ZPM has entered into two initial agreements:
- A software licence agreement for its medication management solutions on an exclusive basis for eight key markets. Under the agreement, MedAdvisor will provide a localised version of its global platform for pharmaceutical manufacturers to fund medication adherence related programs and digitally connect pharmacies and their patients to make medication management more accessible.
- A promotional agreement with Zuellig Pharma to provide support for its market entry ambitions in Asia. Under the agreement, Zuellig Pharma will market to its network of 350,000 pharmacies and medical clinics across ZPM’s key markets to introduce MedAdvisor’s medication management products and build up ZPM’s addressable patient pool. Additionally, Zuellig Pharma will work with its existing manufacturer clientele to run adherence programs through the joint venture.
“The strong partnership is based on a shared purpose to improve patient health,” MedAdvisor CEO and ZP Chair Robert Read said. “MedAdvisor’s global technology platform combined with Zuellig Pharma’s network and client reach will be a formidable combination and the formation of this joint venture with a company of Zuellig Pharma’s size, reach and reputation represents a strong validation of MedAdvisor’s global reputation as a leader in its field.”
Zuellig Pharma CEO John Davison said: “The MedAdvisor platform has the potential to help millions of people manage their medications safely and effectively. Pharmacies have an essential role in providing healthcare to the community and we’re committed to helping them serve their patients better.
“This joint venture expands Zuellig Pharma’s growing suite of digital solutions that address key pain points in delivering quality healthcare. We look forward to building a successful partnership with MedAdvisor, as we work together to make healthcare more accessible in Asia.”