You may not have heard much about or indeed much from ASX-listed Jayex Healthcare (ASX:JHL) since it listed on the ASX back in 2015, and there’s a reason for that.
The company has been busy building a suite of integrated healthcare services and platforms and a solid customer base.
JHL has a strong presence in the UK with its patient workflow solutions being used by multiple NHS hospitals and thousands of medical centres nationwide.
It has also made a footprint in Australia and New Zealand with its appointment booking solution Appointuit and Enlighten patient management system, being used by approximately 600 customers across both countries.
The company reported revenue of $6.87 million in its 2018 financial year and, over the past 12 months, it has undertaken and completed a product development program for new healthcare solutions that deliver an improved user experience for both patients and healthcare professionals.
Enter new technologies
JHL has developed an ‘end-to-end’ suite of solutions which, on completion, will include a new prescription delivery service, Pharmacy 2 U (P2U®), and a prescription processing and remote dispensing terminal named BluePoint®.
Both technologies are aimed at helping patients access their medications more simply and faster.
The P2U prescription delivery service platform will enable electronic script processing and ‘click and collect’ services to be implemented.
When integrated with the remote dispensing terminal, BluePoint®, the patient is able to very simply access their approved prescribed medicines.
“The technologies will eliminate barriers that currently prevent a patient from conveniently accessing their medications and ensures patients are able to access their medications in a simple, fast and effective manner,” said JHL CEO Nick Fernando.
New Zealand is a prime and ideal market
JHL announced today an update to its New Zealand medical cannabis and technology commercialisation strategy – in which it has said it intends to progress with the commercialisation of its P2U® prescription delivery service platform and BluePoint® remote dispensing terminal in the medical cannabis sector.
It says it is in ongoing commercial discussions to produce medical cannabis products for distribution via its prescribing and dispensing technologies.
JHL has submitted an application to New Zealand’s Ministry of Health to establish a medical cannabis research facility – where it intends to test specific medical cannabis strains selected for the development of its own medical cannabis products designed for sale and distribution in its proprietary BluePoint® remote dispensing terminal.
New Zealand is an emerging medical cannabis market following the passing in December 2018 of the necessary legislation to permit the use of medical cannabis for palliative care and terminally ill patients.
The new law is expected to make medical cannabis available to potentially thousands of patients.
Subject to the passing of further regulations that would allow companies to manufacture medicinal cannabis products JHL is also seeking to commence medical cannabis cultivation activities in the region.
New Zealand has also proposed a referendum in two years’ time on personal medical cannabis use.
“The favourable regulatory environment and the fact that the New Zealand medical cannabis market is sophisticated but smaller market than the UK or the US makes it the ideal market for a new entrant to help support and enable patient access via new technologies to approved medical cannabis products,” said CEO Nick Fernando.
Once the regulations are in place, the company intends to provide the integrated P2U® and BluePoint® system for use by doctors and pharmacists who are approved for the prescription and sale of approved medical cannabis products.
The Company is exploring sale and third-party leasing opportunities for the roll-out of the new technologies to lower the entry level cost and increase the take-up opportunities, with ongoing software and prescription processing fees are part of the proposed revenue model.
Building blocks in place
JHL has already identified and leased the premises for its medical cannabis research facility at Papamoa at the Bay of Plenty on the North Island, which is at the heart of the world famous NZ kiwi fruit and intensive horticultural industry.
JHL has also established a wholly-owned New Zealand subsidiary and appointed a highly qualified local board to lead the commercialisation strategy in New Zealand.
The subsidiary is named Whakaora Hou – the Maori meaning for New Healing.
The Board comprises of Denis McMahon, a successful property developer and fund manager and chairman of the Property Managers Group; Dr Wayne Beilby, a corporate governance expert and a prominent figure in Maori law, politics and business; and Dr Franz Strydom, a skin cancer surgeon and general practitioner who is also a high-profile educator on potential medical cannabis therapies.
Speaking on the appointments Nick was pleased with the quality of the board of Whakaora Hou and is looking forward to the Company building a successful medical cannabis and healthcare technology business in New Zealand.
This content is produced by Star Investing in commercial partnership with Jayex Healthcare. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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