The agreement provides for the integration with MedAdvisor’s patient management and pharmacy software.
MedAdvisor says completion of the integration will enable it to provide pharmacies using PDX software with a complete solution to manage important digital customer interactions, including ordering through its SaaS app.
Once integrated with PDX’s systems, MedAdvisor’s pharmacy software can be easily deployed into the 10,000-plus pharmacies that use PDX’s software, which the company says makes it faster and simpler to commence rollout in the US market and begin customer acquisition.
The integration is planned to start in H1 FY19, following the scale-up of the development team to increase capacity to manage the integration and additional compliance, regulatory and operational effort for the US.
MedAdvisor says integration with a major dispensary is the first key step towards the company’s international expansion, and as a result, its underlying operating expenses are expected to increase in H1 FY19.
According to MedAdvisor, the company is well funded to complete the integration, with a current cash position of $10.8 million as of 30 March, and it has significant capacity to continue its domestic expansion and to progress international opportunities.
Robert Read, chief executive of MedAdvisor, said the agreement was the first step on the path towards commercialisation in the US.
“Our product has received fantastic feedback from pharmacy chains throughout the region and 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 and integration with a market-leading dispensing software in the US provides us with the first piece of the puzzle to securing a position in the US market.”