News and Announcements
MedAdvisor Completes OzDocsOnline Acquistion
- Published February 20, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
MedAdvisor Limited (ASX: MDR) is pleased to announce that the company has completed its acquisition of OzDocsOnline. The acquisition was a total cash consideration of A$150,000 and was funded from existing cash at the bank.
KEY TAKEAWAYS:
- Acquisition of the assets of OzDocsOnline (ODO), the online doctor-patient communication platform is now complete.
- Delivers important strategic benefits including:
- Enhancing the range of GP related services offered by MedAdvisor with the addition of online referrals, consultations, appointment books and communication of test results.
- The addition of over 100 new medical practices and 300+ General Practitioners.
- Expected growth in revenue from MDR users with ODO patients paying for transactional fees per service.
- After Healthnotes joined, MedAdvisor was able to add a network of nearly 4,000 GPs.
OzDocsOnline brings a number of key benefits that will expand MedAdvisor’s existing service offering and revenue opportunities. From these new services the company has planned to develop the company’s revenue- fees for OzDocsOnline are paid on a transactional basis, which will support MedAdvisor’s ambition of growing user based revenue as the business scales. OzDocsOnline currently generates approximately $60,000 p.a. from transactional GP fees.
Robert Read, CEO of MedAdvisor commented: “OzDocsOnline is a strategic acquisition for MedAdvisor. We feel confident that existing MedAdvisor users will value the additional services and GPs that can be accessed which will enhance our ability to create further value from this acquisition. We want to make it easier for patients to conveniently access primary health services and this acquisition supports this objective.”
MedAdvisor is a world class medication management platform focused on addressing the gap and burden of medical adherence. Founded with the desire to simplify medication management.
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