Digital & Innovation

Medication adherence company to acquire digital health platform

Health Industry Hub | August 1, 2022 |
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Digital & Innovation: A medication adherence technology vendor is acquiring an ehealth business, setting up a powerful combined player in the Australian community pharmacy digital health sector.

With a projected revenue of $21 million in FY22, ASX-listed MedAdvisor’s acquisition of GuildLink (owned by The Pharmacy Guild of Australia) will enable the company to provide a consolidated platform that removes duplication and increases efficiencies for Australian pharmacies, and enhances their ability to provide integrated bookings, clinical services, vaccinations and medication management for their patients.

The acquisition will also see the Pharmacy Guild work in partnership with MedAdvisor to develop and deliver new and ongoing health service initiatives, including government programs, to provide and support the health needs of communities across Australia.

The Master Services Agreement entered into by the Pharmacy Guild, MedAdvisor and GuildLink is a long-term arrangement (10 years with Pharmacy Guild having the right to extend for up to a further eight years) under which the parties will work together in respect of proposals within the other parties’ core fields of expertise.

The first program under this arrangement involves the ongoing provision of de-identified information to Pharmacy Guild for community pharmacies that opt-in to the program to assist Pharmacy Guild with health economics modelling and advocacy on behalf of its members and the pharmacy profession generally. The long-term 10-year program involves a “fee free” period for the initial two years, with a right for Pharmacy Guild to end the program on 12 months’ notice.

Commenting on the acquisition of GuildLink and the ongoing partnership with Guild Group* and The Pharmacy Guild of Australia, MedAdvisor Chair, Linda Jenkinson, said “MedAdvisor has invested heavily in improving the workflow of pharmacists, so they can deliver better care to their patients in the most efficient way. As pharmacies widen their scope of practice, and governments seek a more consistent approach to engaging with the pharmacy sector, our strong belief is that a best-of-breed platform is the best way to enable the industry to achieve these objectives.

“MedAdvisor’s acquisition of GuildLink deepens our relationship with the Pharmacy Guild of Australia, and the many pharmacies supported by GuildLink. There is compelling strategic rationale for the acquisition as it ensures Australian pharmacists have access to the world’s best technology platform that integrates patient bookings, clinical services, vaccinations and medication management, while also having the additional benefit of being supported by the Guild to ensure they are remunerated appropriately for delivering these services.”

Chair of Guild Group, Andrew Bloore, said “The Guild Group is committed to supporting Australian pharmacists, in running and growing their businesses and delivering the best possible health and care services to their customers. This partnership with MedAdvisor enables accelerated investment to deliver an enhanced platform to the community pharmacy network. We look forward to being a productive shareholder in MedAdvisor over the long term.”

Commenting on the future working relationship with MedAdvisor, the National President of The Pharmacy Guild of Australia, Professor Trent Twomey, said “This transaction provides certainty for our ability to continue to deliver health service initiatives aimed at improving the health and wellness of Australians while providing an enhanced medications management technology platform that meets the ongoing needs of community pharmacy. It’s a positive step forward for the pharmacy community and for all Australians.”

Consideration for the acquisition is by way of a placement of 15% of the fully paid ordinary shares in MedAdvisor to Guild Group, equivalent to approximately $9.14 million. Following the placement, Guild Group will become the largest shareholder in MedAdvisor and has nominated Anthony Tassone, Victorian Branch President of the Pharmacy Guild of Australia, to the board.

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*Guild Group has been providing general insurance services to pharmacists since its inception in 1963. Since then, the company has expanded its expertise to meet the insurance, superannuation, legal, I.T needs of a wide range of professional groups.

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