Pharmacies across the country will benefit from a deal that will see medtech company MedAdvisor Limited acquire GuildLink Pty Limited (GuildLink).
MedAdvisor Chair Linda Jenkinson said MedAdvisor’s acquisition of GuildLink, including its myPharmacyLink app and GuildCare software, will enable MedAdvisor to create an enhanced platform to increase efficiencies for pharmacies.
Pharmacies provide an important role in communities right around Australia. We are committed to supporting them with the best possible health management software solutions,” Linda said.
Once the integration of GuildLink is completed, the Australian pharmacy network will be supported by MedAdvisor’s best-of-breed platform that will be best placed to improve pharmacy services and increase patient adherence to medications.”
MedAdvisor will purchase GuildLink in exchange for the issue of 15% of the fully paid ordinary shares in MedAdvisor to Guild Group Holdings Limited (Guild Group) at an issue price of $0.16 per share, valuing GuildLink at $9.14 million. In addition, the Guild Group has committed to take up its entitlements in full and to sub-underwrite the institutional entitlement offer, totaling to approximately $4.9 million.
The Guild Group will become the largest shareholder in MedAdvisor and have board representation, nominating Anthony Tassone onto MedAdvisor’s Board of Directors. The Guild Group is wholly owned by The Pharmacy Guild of Australia (PGA).
As well as reducing workloads for pharmacies, Linda said everyday Australians will also benefit, as pharmacy services will become more convenient to access.
MedAdvisor has invested heavily in improving the workflow of pharmacists, so they can deliver better care to their patients in the most efficient way. As pharmacies widen their scope of practice, and governments seek a more consistent approach to engaging with the pharmacy sector, our strong belief is that a best-of-breed platform is the best way to enable the industry to achieve these objectives.
MedAdvisor’s acquisition of GuildLink deepens our relationship with The Pharmacy Guild of Australia, and the many pharmacies supported by GuildLink. There is compelling strategic rationale for the acquisition as it ensures Australian pharmacists have access to the world’s best technology platform that integrates patient bookings, clinical services, vaccinations and medication management, while also having the additional benefit of being supported by the Guild to ensure they are remunerated appropriately for delivering these services.”
The transaction will also see the PGA work in partnership with MedAdvisor to deliver new and ongoing commitments to health service initiatives, including government programs to provide and support the health needs of communities across Australia.
National President of The Pharmacy Guild of Australia Professor Trent Twomey said the PGA was looking forward to a strong working relationship with MedAdvisor.
This transaction provides certainty for our ability to continue to deliver health service initiatives aimed at improving the health and wellness of Australians whilst providing an enhanced medications management technology platform that meets the ongoing needs of community pharmacy. It’s a positive step forward for the pharmacy community and for all Australians,” Professor Twomey said.
Following the acquisition, MedAdvisor will work with the GuildLink team to fully integrate all functions of the two businesses.
This marks MedAdvisor’s second strategic acquisition within two years. In 2020, MedAdvisor acquired US company Adheris, which has now been integrated into the business.