MedAdvisor will be investing $1.9 million (£1 million) into UK-based pharmacy dispensary app Charac, while securing a 7.4 per cent shareholding in the later
company.
Under this new agreement, MedAdvisor CEO Rick Ratliff will become a Non-Executive Director (NED) on the board of Charac.
Both MedAdvisor and Charac provide digital medication adherence solutions that allow customers to file prescription orders to their local pharmacy through mobile apps.
The investment is seen as part of MedAdvisor's cost saving strategy, as the Australian company has decided to discontinue its UK operations, and transfer its
existing pharmacy relationships to Charac.
Charac, an NHS-integrated one-stop platform for independent community pharmacies, has secured £1 million strategic investment from the Royal Mail Group,
enabling its time-saving platform to assist more local pharmacies and patients across the UK to easily manage their prescriptions and consultations online.
The company said this new money will enable it to leverage strong levels of trust that pharmacists enjoy within the communities they serve in and will ensure
pharmacies remain a cornerstone of vibrant high streets and an invaluable provider of frontline healthcare products and services, including vitally needed
consultations.
Charac says it is aiming to sign up over 1,000 UK pharmacies in the next 12 months by expanding its geographic footprint beyond current cities, including London,
Manchester and Birmingham, and targeting small multiple and independent pharmacies, accounting for almost 40 per cent of the UK's community pharmacy network.
The announcement also sees the addition of Stefan Kulik, a managing director at Royal Mail, to the Charac board. Stefan is responsible for leading Royal Mail's
expansion into the healthcare industry and brings a breadth of experience, having previously worked in healthcare with companies including Johnson & Johnson.
Digital pharmacy app Charac has raised over £1 million in debt and equity, bringing total funding to date for the London-based startup to £2.5m.
Pharmacy Business understands while the majority of the new finance, worth about £1.2 million, comes from the National Pharmacy Association (NPA) coffer, the
remainder is put forward by a number of individual pharmacy businesses.
The pharmacy sector is in a state of crisis, experiencing nearly two closures per week over the past two years, Charac said in a statement.
According to data from the NHS Business Services Authority, there are now only 11,026 community pharmacies in England, the lowest number since 2015. The current
crisis is attributed to escalating operational costs, a shortage of staff, and diminished government financial support.
harac, an NHS-integrated one-stop platform for independent community pharmacies, and the National Pharmacy Association (NPA) have announced their long-term
partnership to allow pharmacies to deliver the broad range of services needed to support the public.
The NPA and Charac will collaborate with members of the NPA and beyond to accelerate the necessary digital transition of independent community pharmacies,
particularly given their importance to poorer communities and less advantaged individuals at high risk due to potential pharmacy closures.
The partnership is part of the NPA's efforts to improve the online presence of community pharmacies, including patient application, online booking, website design,
and a delivery service. With Charac similarly dedicated to bettering digital interaction with patients, the new joint ecosystem will provide pharmacies with the
necessary funding and cutting-edge technology to aid delivery of primary care.
Charac, an NHS-integrated one-stop platform for independent community pharmacies, and Positive Solutions, the fastest growing pharmacy IT provider in the UK,
have agreed on a collaboration to support community pharmacies through new integrated technology platform - MyHealthHub.
The tech platform aims to give pharmacies a powerful and compelling tool to both help retain and attract new patients. The app will also allow the over 7,200
independent high street pharmacies which are lacking a digital footprint to compete with larger online pharmacies by providing them with an online presence.
The long-term strategic partnership brings together Charac's innovative approach to patient relationship management and Positive Solutions trusted expertise in
digital solutions for pharmacy.
With Positive Solutions' Analyst PMR used daily by 16,000 pharmacy team members to process over 87 million scripts and 180 million items, the collaboration will
help transform patient engagement and continue driving service business to pharmacies across the UK using a new innovative, integrative technology platform,
MyHealthHub.
MyHealthHub will not only integrate with Analyst PMR, but also forms part of an entire new technology ecosystem from Positive Solutions, the Hx platform and will
be entirely interoperable.
Community pharmacy chain Jardines Pharmacy has partnered with patient relationship management platform Charac to launch a new app designed to digitalise
its services, enhance operational efficiency, and elevate customer satisfaction.
The app allows patients to order repeat prescriptions, access medicine home delivery and book consultations with their pharmacist all in one place, enabling
faster pharmacist-to-patient care.
By incorporating Charac's platform into its business, Jardines is able to boost prescription dispensing efficiency, helping reducing wait times for patients.
Additionally, its delivery feature enables patients to track their orders directly through the app, thereby streamlining the overall patient experience.
The app also minimises administrative and manual tasks for pharmacists, giving them more time to focus on helping patients and delivering the outstanding
customer service.
Patients of Jardines can also use the app to book appointments digitally for Pharmacy First consultations, blood pressure checks, earwax removal, travel
vaccinations, and emergency contraception services.
Santosh Sahu, Founder and CEO of Charac, said: "We are pleased to support Jardines Pharmacy and its patients across England. Our mission is to ensure that
community pharmacies are empowered to digitalise, making care easier and more accessible for patients.
A recent report by the Company Chemists' Association (CCA) has revealed a significant disparity in patient engagement with the Pharmacy First service across
the UK.
In response, Santosh Sahu, Founder and CEO at Charac, has emphasised the need for technological reform to address "the interoperability gap between pharmacists
and GPs".
Sahu identified the lack of GP referrals for Pharmacy First consultations as a key issue, attributing it to inadequate IT infrastructure.
He urged the sector to "implement technological reforms to enhance interoperability between pharmacists and GPs, enabling them to share patient records, identify
care pathways, and address health needs more effectively".