Pharmacy Daily | Corum seeks to regain market share

PHARMACY software provider, Corum Group, is primed to regain market share through "head office" products, on the back of a strong 2021 Financial Year.

In a statement to the Australian Securities Exchange (ASX) this morning, the company reported a 208% increase in earnings before interest, tax, depreciation and amortisation (EBITDA), to $3.06 million for the year to 30 Jun, with revenue up 26% to $13.38 million.

Corum noted that the completion of its acquistion of the remaining 57% of equity in pharmacy electronic ordering gateway, PharmX, had aided revenue growth.

The company told the ASX that it was focused on regaining market share through its pharmacy group management solutions - Corum RPM and Corum Clear Enterprise, which is currently in development - with 90% of pharmacies affiliated with a group, banner, brand or buying group.

Corum added it would target groups through its existing relationships and "market-leading head office product", while building "on dispense, point-of-sale and other product opportunities through these partnerships".

The company also flagged further development of PharmX, noting "the past three years of equity holder litigation that was a significant distraction to the strategic focus of PharmX has been resolved through the acquisition".

"Corum will continue to provide PharmX with capital investment to achieve growth ambitions based on expected profitability and managed risk," it said.

"We are further integrating between Corum software products and PharmX to provide a more complete offering, especially to groups."

Announcing the FY21 results, Corum Managing Director, Julian Sallabank, said he was pleased with the business's performance.

"We are strengthening our team, which will enable us to execute our strategy," he said.

"We will continue to focus on profitable growth of our health business and are actively looking to augment that growth through acquisitions."