03 December 2018 | News
Initial launch in Philippines and South Korea with other markets to follow.
Image credit- techrepublic.com
MedAdvisor Limited, Australia’s leading digital medication management company, is pleased to announce it has signed a Heads of Agreement to form a joint venture with Zuellig Pharma Holdings Pte Ltd (Zuellig Pharma), one of the largest healthcare services groups in Asia.
With close to 100 years of operating history, Zuellig Pharma’s $12 billion business provides healthcare services to over 350,000 medical facilities (pharmacies, medical clinics, hospitals) across Asia and works with over 1,000 corporate clients, including the top 10 pharmaceutical companies in the world. It also operates large-scale patient engagement programs on behalf of pharmaceutical companies and provides employee health management services to corporate employers. Zuellig Pharma puts emphasis on providing pharmacy and medical clinic customers with state-of-the-art digital customer service capabilities to help cater to the growing convenience and service expectations of patients; and considers MedAdvisor a strong partner with the ability to support an extensive number of its customers in the region.
MedAdvisor will form a 50:50 joint venture based in Singapore with Zuellig Pharma to commercialise MedAdvisor’s medication management platform in Asia.
MedAdvisor will license its core intellectual property to the JV on an exclusive, royalty-free basis and will develop localised versions of its platform for pharmacies and patients in the Filipino and South Korean markets. Both parties have conducted in-depth product-market fit assessments and are confident that MedAdvisor’s technology can be effectively rolled out in these countries, which share a similar prescription model as Australia.
Zuellig Pharma will market the JV’s offering to its extensive network of pharmacies, medical clinics and pharmaceutical manufacturers, initially focussing on the Philippines (total c. 27,000 pharmacies) and South Korea (total c. 21,000 pharmacies) in FY20, followed by launches in additional Asian markets.
MedAdvisor will retain ownership of all Intellectual Property in the platform, including any customisations for specific countries.