MedAdvisor expands to Asia through Zuellig Pharma joint venture
Australian digital medication management company MedAdvisor has partnered with Zuellig Pharma in a joint venture that will see MedAdvisor expand its operations and platform to Asian markets
The JV, based in Singapore, will be split evenly between MedAdvisor and Zuellig as MedAdvisor seeks to tap into the 560mn people and US$69bn pharmaceutical spend across defined markets.
According to MedAdvisor’s press release, the firm will exclusively license its core intellectual property to the JV on a royalty-free basis, as well as developing and launching localised versions of its platform for the South Korean and Filipino markets.
“This is one of the most significant developments in our Company’s history,” said Robert Read, MedAdvisor CEO, in the firm’s statement.
“As one of the largest healthcare businesses in Asia, Zuellig Pharma is the perfect partner to take our offerings into the region. We are also genuinely excited that the global product platform we are developing for the US and UK, will work just as well in Asia.”
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Zuelling Pharma operates a $12bn business, working with 1,000 corporate customers and providing healthcare services to more than 350,000 medical facilities across the APAC region.
In the press release, 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.
“This Joint Venture expands Zuellig Pharma’s growing suite of digital solutions that address key pain points in delivering quality healthcare. We look forward to building a successful partnership with MedAdvisor, as we work together to make healthcare more accessible in Asia.”