MedAdvisor Ltd (ASX: MDR) Nominate 2 New Advisors to Advance Global Expansion Strategy

KEY TAKEAWAYS:

• MedAdvisor has nominated two regional advisors, Mr Jamal Butt and Mr Keith Kiarsis to accelerate its global expansion strategy.
• Mr Butt and Mr Kiarsis will play a major role in implementing and shaping the go-to-market strategies in the US and UK.

Australia’s foremost digital medical management company, MedAdvisor is glad to divulge that it has nominated two regional advisors, Mr Jamal Butt and Mr Keith Kiarsis who will accelerate its global expansion strategy. These advisors will guide MedAdvisor’s market entry strategies into the US and UK with Mr Keith guiding the market into the US while Mr Jamal Butt will guide the market into the UK. They will identify and develop relationships with potential customers and partners to move the global expansion of the company.

Mr Jamal Butt has great experience working with the most significant pharmacy groups in the UK. These include Head of Healthcare Solutions with Boots UK, Head of Healthcare Services and Business Development with Celesio UK and Head of Pharmacy with Walgreens Boot Alliance. He is a qualified pharmacist having studied at the Oxford University and the University College London and is currently iWantGreatCare Business Development Director, an online review site for healthcare providers and a Non-Executive Director having a local UK National Health Service Trust.

Mr Keith Kiarsis has a decade of experience in improving medication adherence in the US and abroad. He has co-authored three papers that have been published in peer-reviewed journals and worked in healthcare research at Harvard Medical School. Also, he has conducted a number of leadership roles. He led the Strategic Business Development, Business Analytics and Healthcare population management. This made him perfect to lead MedAdvisor’s US expansion strategy.

The Australian market is similar to the UK market. However, the UK market presents less fragmentation as a result of differences in legislation that allows corporate ownership of pharmacies. The integration points are also less (only two key dispense vendors) in the UK than in Australia.

In the US, the market is multi-layered as a result of its health system in which besides large pharmaceutical manufacturers and distributors and corporate pharmacy chains, the players such as pharmaceutical benefits managers, health insurers and third party service providers of the support programs and patient engagement operate with great numbers of patients across each network.

Different elements of MedAdvisor technology stack in both the US and the UK attract various providers. The Company is aware of the demand to exploit local knowledge and have pertinent expertise available on the ground to determine and move forward customer opportunities and potential partners to intrude these potential markets. Mr Butt and Mr Kiarsis will play a major role in implementing and shaping the go-to-market strategies for every region. Their work is too closely work with Mr Saurabh Mishra who is MedAdvisor’s International Business Development Manager.

Since the evaluation phase aligns with MedAdvisor’s internal budgets, it will not cause accelerating burn. MedAdvisor stays focused on laying the groundwork for growth in FY18 and is expected to work jointly with its new UK and US advisors. The Company is excited to offer updates on progress as its plans continue to grow all through the year.

According to MedAdvisor’s CEO, Robert Read, the expansion beyond the Australian market is a primary part of the company’s growth strategy and that its track record in Australia is highly considered by companies globally.

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