Australian digital medication management company MedAdvisor (ASX: MDR) has moved a step closer to international expansion through the signing of a co-marketing and licensing agreement with a United States pharmacy dispensing software company, which could potentially deliver its smartphone application to US consumers.
The non-exclusive agreement will enable MedAdvisor to integrate its technology with patient management and pharmacy software developed by Texas-based PDX Inc, which currently provides a dispensing system to more than 10,000 pharmacies across the US (or 15% of the total US pharmacy market).
Integration with PDX Inc will give MedAdvisor a platform for launch into the US and allow it to offer its innovative medication management tool to pharmacies utilising PDX software.
“Deployment into the pharmacies that use PDX software will make it faster and simpler to commence rollout into the US market and begin customer acquisition,” the company said.
“PDX is a large provider of clinical software and specialist pharmacy solutions, servicing approximately 15% of the total 60,000+ pharmacy market in the US.
“Integration with a major dispensary is the first key step towards our international expansion.”
Since launching its medication management tool to the Australian market in 2013, MedAdvisor has connected with more than one million local users through its pharmacies and medical clinic network.
Available free of charge on mobile and internet devices, the application boasts technology to increase the efficiency of ordering and managing prescription medications, and adhering to dosage and frequency requirements.
When a patient signs up to MedAdvisor at a participating pharmacy, the application keeps track of every prescription as it is dispensed, informing users of how and when a dose is to be taken, how long a supply will last, and when they should visit the doctor for repeat scripts.
The tool can also link to a patient’s medical professional, enabling doctors to track patient adherence to prescribed medication and re-issue scripts if an appointment is not required.
MetAdvisor chief executive officer Robert Read said the PDX agreement is the first step towards commercialisation in the US.
“Our product has received fantastic feedback from pharmacy chains throughout the region and [in order] to get our product into their stores, it is important that it is connected to the key dispensing systems in the US,” he said.
“Dispensing systems are the backbone that enable pharmacies to order and receive medications for their patients.
“Integration with market-leading dispensing software in the US provides us with the first piece of the puzzle to securing a position in that market.”
Mr Read said MedAdvisor will complete dispense integration by year end and plans to initially market its tool to PDX clients.