Medication Adherence Platform, MedAdvisor, Lists on the ASX
November 30 2015 - 7:30PM
Business Wire
• MedAdvisor raises $5m in oversubscribed
public offer
• MedAdvisor commences trading under ticker
code MDR
• MedAdvisor announces new medication training
relationship with Amgen
MedAdvisor Limited (MedAdvisor or Company) an
Australian software developer focused on improving health outcomes
by placing patients at the centre of connected health platforms,
has been re-admitted to the Australian Securities Exchange.
MedAdvisor, trading under ticker code MDR, commences trading today
following a reverse takeover of Exalt Resources Limited (ASX:ERD)
by MedAdvisor International Pty Ltd.
The Company also announces it has entered a new marketing and
training relationship with Amgen, the world’s largest independent
biotechnology company, which currently markets eight products in
Australia for the treatment of cancer, kidney disease, bone disease
and other serious illnesses.
MedAdvisor has created a software platform that helps
individuals to monitor their medication use, connecting to their
pharmacy of choice, automatically retrieving medication records and
activating an intelligent training, information and reminder system
to ensure correct and reliable medication use.
Poor medication adherence has been identified as one of the most
significant and costly problems faced by governments and major
healthcare providers in developed nations. Just 50-60 per cent of
medication prescribed in Australia is taken correctly, which
contributes to poor health, including unnecessary hospitalisations,
as well as significant missed revenue for industry.
The Australian pharmaceutical market is valued at over $10
billion annually and 288 million prescriptions are issued in
Australia each year. MedAdvisor is directly addressing an issue
which is estimated to cause nearly $500 billion USD in avoidable
cost internationally each year, improving medication adherence by
up to 20 per cent.
MedAdvisor serves a number of different stakeholder audiences,
including consumers wishing to improve their personal medication
management, as well as pharmacies and pharmaceutical manufacturers
seeking an opportunity to improve prescription adherence and
provide training and information to prescribed users of their
medications.
MedAdvisor CEO, Mr Robert Read, said: “As a company, we’ve
achieved a lot in a short space of time, including establishing
important marketing partnerships with pharmaceutical companies GSK,
AstraZeneca, UCB and Apotex, and most recently Amgen. We are very
pleased to be working with Amgen and view this as yet another
industry validation of our technology and its efficacy.
“A quarter of all Australian pharmacies are subscribers to the
MedAdvisor platform and we garnered strong support from pharmacists
who invested in our recent capital raise. We have more than 100,000
users managing their medication via our free app, which has been
the most downloaded medication-related app in Apple and Android
stores in Australia in 2014 and 2015.
“We are delighted to be listed on the ASX and look forward to
delivering a number of exciting initiatives in 2016.”
MedAdvisor is led by CEO, Mr Robert Read who has joined the
board of Directors, along with MedAdvisor Founder and CTO, Mr Josh
Swinnerton and Mr Jim Xenos. The Company continues to be Chaired by
Mr Peter Bennetto, and Mr Carlo Campiciano has been appointed to
act as joint Company Secretary. Mr Steve Brockhurst and Mr Peter
Dykes have resigned from the Board.
The Company successfully raised $5 million in October 2015 in an
oversubscribed public offer led by Corporate Advisor, Peloton
Capital.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151130006421/en/
MedAdvisorRobert Read, +61 3 9095
3036robertr@medadvisor.com.auorBuchan ConsultingCatie Corcoran, +61
2 9237 2807ccorcoran@buchanwe.com.auorExalt Resources LtdPeter
Bennetto, +61 8 9481 0389info@exaltresources.com.auorPeloton
CapitalNicholas Downes, +61 2 8651
7802nicholas.downes@pelotoncapital.com.au
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