Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Friday, February 23, 2024 · 690,750,869 Articles · 3+ Million Readers

AHI completes Formal Agreements with UAE-based E-Script medicine management company Pharmak Direct

Advanced Health Intelligence

AHI

AHI Enterprise Care Platform

AHI Enterprise Care Platform

Matching AHI smartphone-derived biometric health assessment with digital pharmacy across the Middle East with gross revenue share partnership.

Advanced Health Intelligence (NASDAQ:AHI)

SOUTH PERTH, WESTERN AUSTRALIA, AUSTRALIA, December 5, 2023 /EINPresswire.com/ -- Highlights

• AHI has executed formal agreements with Pharmak Direct.
• AHI Technology will be embedded in the e-script process, allowing patient screening.
• Pharmak has a prominent stake in the e-script market throughout the MENA region.
• First-of-its-kind e-script and mobile screening point-of-sale offering.
• Following integration, it has been agreed that AHI will receive 1.6% of the e-script value on e-script partners using AHI’s e-screening.
• AHI now has three strategic partnerships in the UAE.

Advanced Health Intelligence Ltd (ASX/NASDAQ: AHI) (“AHI” or “the Company”) is pleased to inform shareholders that, the Company has executed a Master Services Agreement (“MSA”) with Pharmak Direct, which sets out the terms and conditions of AHI’s partnership with Pharmak Direct.

Further to AHI's strategic partnerships with IntelliGen (see AHI’s announcement dated 14 August 2023) and Bin Farhood (see AHI’s announcement dated 12 September 2023), the signing of the Pharmak MSA in the UAE is a testament to AHI’s establishment of a robust presence within the MENA region. This new end-to-end platform is designed to encompass a suite of services, including AHI’s proprietary risk identification screening with telehealth, e-scripting, pharmaceutical delivery, medication management, fraud detection, and medication waste management.

Dubai-based Pharmak Direct is a prominent stakeholder in the Middle Eastern e-script market, providing innovative digital home and workplace delivery prescription solutions. The company offers a comprehensive platform that enables payers, doctors, and patients to manage prescription compliance seamlessly, delivery and adherence electronically, enhancing the overall healthcare experience.

Pharmak represents a transformative shift in the prescription landscape with its e-script dispensing and packaging system (ESPS), enabling the company’s unique 3-minute e-script-to-packaged capability. By leveraging technology to digitise and streamline the end-to-end prescription process, Pharmak Direct enhances efficiency, accuracy, and patient safety, ultimately improving the overall healthcare experience.

Under the terms of the MSA, with the assistance of AHI, Pharmak will integrate the AHI Biometric Health Assessment capabilities, enhancing the e-script patient experience and facilitating cost-effective medication and health management solutions with the Pharmak Direct ESPS. This is intended to seamlessly provide health data directly into the joint AHI / Pharmak ESPS, further providing Health insurers, government, and healthcare professionals with valuable insights into the patient's overall health status. The parties are targeting Q2-2024 as the initial launch of the combined solution.

Upon completing the integration process, it has been agreed that AHI will receive 1.6% of the gross e-script value. Pharmak expects to achieve a minimum e-script order volume in 2024 of 100,000 e-scripts per month in the UAE and a further 100,000 e-scripts per month in Saudi Arabia. The average e-script value in the UAE is AED550.00 (USD$150.00); in Saudi, the average e-script value is SAR350.00 (USD$93.40).

For extended release details including material terms of the agreement please visit https://www.asx.com.au/markets/company/AHI

About Pharmak Direct https://pharmakdirect.com/

About Advanced Health Intelligence Ltd www.ahi.tech
Advanced Health Intelligence Ltd (‘AHI’) delivers scalable health assessment, risk stratification and digital triage capabilities to healthcare providers, insurers, employers, and government agencies worldwide via our proprietary technology and processes.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains information or statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies, and outlook of Advance Health Intelligence, and includes statements about, among other things, future developments and the future operations, strengths, and strategies of Advance Health Intelligence. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.

The forward-looking statements made, or perceived to be made, in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analysis, and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for Advanced Health Intelligence's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.

The forward-looking information contained in this news release represents the expectations of Advance Health Intelligence as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Advance Health Intelligence undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Scott Montgomery
Advanced Health Intelligence
admin@ahi.tech
Visit us on social media:
Twitter
LinkedIn

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release