SINGAPORE - Australian medication platform MedAdvisor and healthcare service provider Zuellig Pharma have formed a 50:50 Singapore-based joint venture (JV) ZP MedAdvisor (ZPM) to commercialise MedAdvisor's platform across Asia.
For a start, the JV will provide SMS-based digital adherence programmes in two initial markets - the Philippines and Malaysia.
ZPM has signed a software licence agreement for its medication management solutions on an exclusive basis for eight key markets - Singapore, Thailand, Indonesia, South Korea, Taiwan, Hong Kong, the Philippines and Malaysia.
Under the pact, MedAdvisor will provide a localised platform for pharmaceutical manufacturers to fund medication adherence related programmes and digitally connect pharmacies and their patients to make medication management more accessible.
Zuellig Pharma, under a promotional agreement, will market MedAdvisor's medication management products to Zuellig's network of 350,000 pharmacies and medical clinics across ZPM's key markets, and help the JV build up its patient pool. Additionally, Zuellig Pharma will work with its existing manufacturer clientele to run adherence programmes through ZPM.
Singapore-headquartered Zuellig Pharma will provide initial funding to the JV, while Australian exchange-listed MedAdvisor will invest in stages from November 2019 to July 2020.
"The strong partnership is based on a shared purpose to improve patient health," said Robert Read, CEO of MedAdvisor and chairman of ZP MedAdvisor.
John Davison, CEO of Zuellig Pharma, added: "The MedAdvisor platform has the potential to help millions of people manage their medications safely and effectively. Pharmacies have an essential role in providing healthcare to the community and we are committed to helping them serve their patients better."
