MedAdvisor scores three-year Chemist Warehouse contract
14 October 2019, Written by David Simmons
Listed med-tech company MedAdvisor (ASX: MDR) has signed an agreement with one of Australia's leading pharmacies for three years.
Chemist Warehouse will partner with MedAdvisor for a period of three years and will see the pharmacy giant take advantage of MedAdvisor's PlusOne pharmacy software.
The two have already been working together for eight years, with MedAdvisor having provided Chemist Warehouse with its SMS services.
The new agreement will see Chemist Warehouse's retail pharmacies use PlusOne to drive more services to improve health outcomes for patients.
PlusOne is a platform for the delivery of 6CPA funded professional services for pharmacists, a Federal Government funded initiative that pays pharmacists for a range of health-related services to the community.
Chemist Warehouse will be able to invite, book, record and claim for 6CPA services delivered to customers using PlusOne.
The agreement with Chemist Warehouse is expected to deliver $5 million over the next three years for MedAdvisor.
"MedAdvisor is a truly agnostic player with a focus on developing the best software to help pharmacy link with patients and provide better health services," says MedAdvisor CEO Robert Read.
"As the largest pharmacy retailer in Australia and experts in execution Chemist Warehouse will drive improved health outcomes through the range of Health Programs available via MedAdvisor, which will be delivered both digitally and in-pharmacy."
The deal follows MedAdvisor's recently completed $17 million placement that was strongly supported by US healthcare solution provider HMS Holdings Corp who invested $11 million in the raise.
The funds are to go toward MedAdvisor's international expansion plans in the US, South East Asia and the UK, as well as driving domestic growth through sales, marketing and technology development.
Chemist Warehouse also recently expanded its partnership with Chinese B2C marketplace Tmall, operated by the Alibaba Group.
The deal extended Chemist Warehouse's agreement to sell via Tmall and included three new multi-brand stores: My Chemist, My Beauty Spot, and Discount Vitamin Warehouse.
Chemist Warehouse also announced that it would open a store on Alibaba-owned Lazada, the leading e-commerce platform in Southeast Asia, to reach consumers in Singapore and Malaysia.
Chemist Warehouse is the top-selling company on Tmall Global, offering more than 200 brands and over 3,200 stock keeping units.
Shares in MedAdvisor are up 1.89 per cent to $0.05 per share at 11.15am AEDT.
Business News Australia
Author: David Simmons