OUTGOING MedAdvisor CEO, Robert Read, is set to remain with the medication management platform as an Executive Director, following the appointment of Rick Ratliff as the company's new US-based Managing Director.
The announcement, made to the Australian Securities Exchange (ASX) this morning, came less than three months after Read announced his intention to retire earlier this year, and the company's intention to hire a US-based successor (PD 05 Apr).
Read previously noted that close to 80% of the company's revenues and earnings were now sourced in the US.
MedAdvisor Chair, Linda Jenkinson, said Ratliff would bring significant experience working in both the US and Australian healthcare and pharmaceutical technology markets, having played a pivotal role in making Surescripts the largest electronic prescribing network in the US.
He also delivered the initial versions of the My Health Record for the Commonwealth Department of Health, during his time as Managing Director of Accenture in Australia.
"Rick bring tremendous experience and a strong track record in healthcare, specifically in the pharmacy technology sector, to this role," Jenkinson said.
"His SaaS (Software as a Service) background is directly applicable to MedAdvisor's business as well as the US growth strategy for Adheris.
"Rick is a very strong leader with a track record of growing revenues and margins.
"He has experience in both the US and Australian markets, and understands the importance of bridging cultures.
"With a demonstrated history of scaling companies and creating and leading large effective teams, Rick has a deep understanding of SaaS in the healthcare and pharmacy sectors.
"With Rick leading our great team of people globally, we believe we are very well placed to deliver on the exciting potential we see for MedAdvisor."
Meanwhile MedAdvisor also revealed that Chief Financial Officer (CFO) Simon Glover, has resigned.
General Manager Finance, Annabelle Grant has been named as interim CFO, as an executive search is conducted to appoint an Australian-based CFO.
Outgoing CEO, Read, noted that Glover had played a key role in MedAdvisor's acquisition of Adheris.
"On behalf of the Board I would like to thank Simon for his commitment to MedAdvisor over the past three years, and for his achievements - particularly on the US Adheris acquisition, integration and growth across the US and Australia," Read said.
"Simon leaves having built a strong and capable finance team, and we wish him all the best in his future endeavours."
The above article was sent to subscribers in Pharmacy Daily's issue from 20 Jun 22
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 20 Jun 22
