LISTED pharmacy software supplier Corum Health has today formally launched a new platform described as a "feature rich tailored digital sales and marketing solution available for use by all pharmacies".
The new PharmXchange Platform caters for a wide range of use cases, including promotional options for brands and products, electronic invoicing compliant with the company's PharmX ordering gateway, integrated payments in partnership with Zenith Payments, supplier access to electronic transactions without the need for full PharmX integration, and "improved pharmacy efficiency through reduced requirement for manual order and invoice".
Launch commercial partners include GlaxoSmithKline Consumer Healthcare Australia and nine other suppliers including Revlon.
Corum Executive Chairman Nick England said the new system was a "key step in our strategy to enable trade between pharmacies and their suppliers through enhanced PharmX services...we are delighted that several key pharmacy industry suppliers have recognised the opportunity that PharmXchange represents".
The new system has been developed by Corum following the acquisition of the intellectual property rights of a cloud hosted software platform called AlchemX, purchased from a company called Alchemy Healthcare, where England is also a director.
Corum said England did not vote on or participate in the negotiation of the transaction, which includes a revenue share agreement whereby Alchemy receives 10% of turnover.
There's also an option to acquire the revenue share from Alchemy under a pre-determined formula, with the minimum total amount payable being $200,000 and a maximum of $1.15 million.
PharmXchange is now live in a pilot phase with a concentrated group of pharmacies and suppliers, ahead of an imminent full commercial launch.
Corum said the new platform expands the service offering of PharmX "which has operated as the trusted and reliable electronic ordering and invoicing gateway of the Australian pharmacy industry for over 18 years".
More than 99% of Australian pharmacies connect via PharmX to order from their wholesaler and other key industry suppliers.
"As a managed service platform, PharmXchange offers an incremental growth opportunity for PharmX in addition to its existing technology solutions," Corum said.
"Engagement with a broad range of industry suppliers is ongoing to promote the scale up of the PharmXchange platform as an additional service to PharmX following pilot completion," the company added, saying it would update investors "in due course" on revenue estimates as the platform rolls out.
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