Digital medication management company MedAdvisor’s 50:50 joint venture with Zuellig Pharma (ZPM), is off and running with the signing of its first customer.
The customer, MedExpress Drugstores, is the leading hospital outpatient pharmacy chain in the Philippines, serving 1.5 million customers in 50 key hospitals nationwide. MedExpress is also the country’s leading delivery-service pharmacy.
The agreement with MedExpress is for ZPM to provide a digital adherence program to its customers via SMS as well as a ‘MedExpress’ white labelled mobile medication management app to help customers track their medication and order refills from MedExpress.
The agreement is for an initial 18-month term from the date of deployment of the MedAdvisor app at the first MedExpress pharmacy. The contract is to be renewed for further 24-month extensions thereafter. ZPM will receive an agreed share of the revenue from orders processed, and services provided via the MedExpress app.
The commercial terms with MedExpress remain confidential, but MedExpress will be paying fixed and variable amounts for access to the software, which will be immaterial to MedAdvisor’s revenue in FY20. Potential revenue from pharma manufacturers is unknown at this stage.
“I’m delighted to have MedExpress Drugstores join us as our first customer in Asia,” MedAdvisor CEO Robert Read said. “MedExpress is a highly innovative and [well] reputed business in the Philippines and we look forward to helping them deliver unprecedented service and convenience to their customers with the MedAdvisor platform.”
MedExpress Drugstores CEO Robert Lim said: “Partnering with ZP MedAdvisor provides us with an outstanding opportunity to elevate the professional services we provide our customers, especially in the area of patient medication adherence. We believe this partnership will further cement our status as the leading innovator in the pharmacy industry in the Philippines”.