- Shares in pharmacy software specialist MedAdvisor (MDR) tacked on as much as 23 cents today following an endorsement from the U.K.’s National Pharmacy Association (NPA)
- The new agreement will see the NPA recommend MedAdvisor’s digital database to its member pharmacies
- According to MedAdvisor, this endorsement carries significant weight; the NPA represents 80 per cent of the U.K.’s independent pharmacies
- That already exceeds the size of the current Australian pharmaceutical space
- Shares in MedAdvisor have soared 53.45 per cent this afternoon with stock trading for 48 cents each
Britons could soon manage their medication online after pharmacy software specialist MedAdvisor (MDR) was endorsed by the U.K.’s National Pharmacy Association (NPA).
Under the new agreement, the NPA will recommend MedAdvisor’s digital database to its member pharmacies.
According to MedAdvisor, this endorsement carries significant weight; the NPA represents 80 per cent of the U.K.’s independent pharmacies.
“To have the endorsement of the NPA will really support our efforts to promote MedAdvisor to the UK’s independent pharmacy market,” MedAdvisor CEO Robert Read said.
“The NPA membership base on its own is larger than the Australian pharmacy market and therefore creates a significant opportunity for the business,” he explained.
The MedAdvisor software helps patients stick to their prescriptions and take their medication while improving health literacy among patients.
Currently, it’s the leading platform of its kind in Australia.
Jamal Butt, Managing Director of MedAdvisor U.K., says the partnership with the NPA can change the way digital medicine information is stored and supplied.
“It has never been more important to educate patients about their medication, with coordinated delivery of education materials an issue in a fragmented pharmacy market,” Jamal stated.
The new agreement isn’t the first of its kind for MedAdvisor. In fact, the company has also partnered with the Day Lewis Pharmacy Group, one of the U.K.’s largest independent pharmaceutical chains.
Day Lewis services more than one million U.K. customers across its 270 pharmacies and is set to launch its own branded version of the MedAdvisor app in the near future.
Speaking on the recent MedAdvisor agreement, acting NPA chair Andrew Lane said the organisation had looked globally for the best digital pharmacy solutions.
“We were really impressed with what MedAdvisor has delivered in other markets globally and we can see the value that MedAdvisor’s tried and tested digital solutions can bring to our member pharmacies,” Andrew continued.
“We are passionate about improving medication adherence and this partnership will help us do that in a more impactful way,” he concluded.
Shares in MedAadvisor have soared 53.45 per cent this afternoon on the news. Shares are trading for 48 cents each at 1:48 pm AEDT.