NEW pharmacy programs in Australia for services such as uncomplicated UTI treatment continue to drive demand for the MedAdvisor platform, according to an update from the firm today.
The ASX-listed medication management technology firm this morning reported a strong start to the financial year, with $25.4 million in operating revenue for the three months to 30 Sep, a year-on-year increase of 27%.
In Australia and NZ the company grew its gross profit by 35% to $5 million after cutting costs through the consolidation of GuildLink into its operations, while recent price increases also saw subscription revenues increase.
Overall subscriptions in Australia rose "as MedAdvisor's role solidifies as the preferred partner enabling community pharmacies to take advantage of new scope of services", the company said.
In the USA MedAdvisor also grew, attributing the expansion to the growth and diversification of vaccine programs as well as new chronic medication programs such as diabetes.
CEO Rick Ratliff said, "despite the economic and operational changes affecting our customers both in the USA and ANZ, we are witnessing a strong demand for our services as our customers rely on us to navigate these challenges effectively".
He said recent restructuring in both regions as well as the recent addition of a US-based Chief Operating Officer positioned MedAdvisor to deliver growth.
"Our focus on pharmacy-driven patient engagement solutions in the US and ANZ will continue to support community pharmacies as market economics and structure of the healthcare industry changes," Ratliff concluded. BP
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