MedAdvisor pharmacies up
LISTED digital medications management company MedAdvisor now has 55% of Australian pharmacies on board, with numbers at 3,100 after a strong Sep quarter expansion spurt.
Connected users now exceed 1.1 million, the company said.
Cash receipts for the period amounted to $1.86m, up 36% as against Q1 FY 18 at $1.36m.
CEO Robert Read said “we continue to grow our domestic business while scaling up to take advantage of significant growth opportunities in both domestic and international markets”.
Read highlighted the growth in sites using PlusOne and said “the increased engagement will ensure growth of programs that can be delivered to the 7 million-plus patients at these pharmacies, further driving user-based revenue from transactional fees”.
He also commented that while the opportunity in the hospital market is significant, the company is now focused on developing the offering and simultaneously improving its services to GPs.
In addition Read said the company would increase both the global connectivity of the platform and its business development activities in its core international markets, especially in the US where founder and Product Manager International, Josh Swinnerton, has relocated.
“These markets have the potential to rapidly change the scope and scale of MedAdvisor,” Read noted.
“We are optimistic about international opportunities in the markets that we are focusing on and are well advanced in the US,” he said, with the integration of MedAdvisor into the platform of US dispensing software provider PDX “progressing on track.”