MedAdvisor Australia has signed a co-marketing and licence agreement with a US provider of pharmacy management software and services, PDX.
The agreement is to integrate with its patient management software. MedAdvisor says it will provide pharmacies using PDX software a complete solution to manage important digital customer interactions, including ordering through the MedAdvisor app.
Once integrated with PDX’s systems, MedAdvisor’s pharmacy software can be deployed into the 10,000-plus pharmacies that use PDX’s software, making it faster and simpler to begin rollout and customer acquisition in the US market.
PDX is a large provider of specialist pharmacy solutions, servicing about 15 per cent of the total 60,000-plus pharmacy market in the US, and will support MedAdvisor in marketing its proposition.
The integration is expected to begin in the first half of FY19. MedAdvisor says it is well funded to complete the integration, with a cash position of $10.8 million as of March 30, and accordingly has significant capacity to continue its domestic expansion and to progress international opportunities.
“This agreement is the first step on the path towards commercialisation in the US,” MedAdvisor CEO Robert Read said. “Our product has received fantastic feedback from pharmacy chains throughout the region, and to get our product into their stores it’s important that it’s connected to the key dispensing systems in the US.
“Dispensing systems are the backbone that enables 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.”