AUSTRALIAN-LISTED digital medication management software company MedAdvisor has announced it has signed a deal to integrate its platform with US pharmacy dispensing software company PDX Inc (PD Breaking News yesterday)
PDX services more than 10,000 pharmacies in the US representing around 15% of the total 60,000+ pharmacy market, which is 10 times the size of the Australian market.
MedAdvisor's announcement said, "Once integrated with PDX's systems, MedAdvisor's pharmacy software can be easily deployed into the 10,000 and more pharmacies that use PDX's software, making it faster and simpler to commence roll-out in the US market and begin customer acquisition".
Consequently, this agreement will enable instant penetration with MedAdvisor products to a significant proportion of the US market, creating a footprint from which to more broadly roll-out and commercialise in the US.
The non-exclusive co-marketing and licence deal is expected to be completed this calendar year, the company said, and PDX clients will be the first targets.
"The integration is planned to commence in H1 FY19, following the scale up of the development team to increase capacity to manage the integration and additional compliance, regulatory and operational effort for the US."
MedAdvisor says that although the agreement will put pressure on the company's underlying operating expenses which will increase in H1 FY19, the company is "well funded to commence integration and to continue its domestic expansion activities".
MeAdvisor ceo Robert Read commented, "This agreement is the first step towards commercialisation in the US.
"Our product has received fantastic feedback from pharmacy chains throughout the region and to get our product into their stores it is important that it is connected to the key dispensing systems in the US," Read explained.
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