AUSTRALIAN Securities Exchange (ASX) listed medtech firm, MedAdvisor, is continuing to see growth in its in-app payment function.
In its latest quarterly update for the three months to 31 Mar the company reported a 481% increase in revenue, compared with the same period in 2020.
The company noted that the initial integration between MedAdvisor and Adheris Health in the US (PD 02 Nov 2020) was "progressing well", and will drive revenue growth in the US market.
In the locally, MedAdvisor reported that its share of the Australian pharmacy market had hit 65% with "annual pharmacy churn steady at about 5%".
The company also revealed that the Mar quarter had seen "record usage of MedAdvisor's in-app payment with approximately 28% of all orders now made through" the app.
MedAdvisor also reported that it is working with HealthEngine to rollout a streamlined booking system ahead of in-pharmacy influenza and COVID-19 vaccination activities, with the company getting a revenue share where pharmacies use both systems.
The company's latest update revealed continued growth of its health program offering.
"Thirty-one health programs funded by pharmaceutical companies were live during the quarter," the company said.
"Closed deals for the year-to-date now exceed $2 million with [a] growing health pipeline."
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