MedAdvisor's Growth Plan

Digital medication adherence company MedAdvisor says its platform continues to surge in popularity, with CEO Robert Read claiming a “nearly 45% share of the pharmacy market” following the recently announced acquisition of rival HealthNotes.  According to an ASX update issued yesterday, Read said during the last financial year patient numbers on the MedAdvisor platform had doubled. “One of the most important focuses for us is to connect more patients to the platform and to realise the multiple revenue streams that can be generated from this,” he said.

The Healthnotes deal “takes us 12 months ahead in our landgrab initiative,” he said, lifting the group’s customer base to nearly 500,000 patients.  Read said that with 50% of Australians suffering a chronic disease “the addressable market is significant”.  

“For people to look after and manage medications has to date been a very manual process, much like the banking process used to be.  “Today we wouldn’t dream of having to visit a branch to view our bank balance,” he said, with MedAdvisor continuing to disrupt the sector. 

The MedAdvisor smartphone app allows patients to manage all their scripts and medications, linking to their local pharmacy and providing reminders when they need to take a dose, fill a repeat or see a doctor for a new prescription.  Learn more about MedAdvisor and how it works in the education module below.

Source: Pharmacydaily.com.au, Friday 23 September 2016