Business Interests
GeneCheck
MediStac
MediStac Tech
Health Awareness
Momentum for Personal Health: With readily available health information, individuals are increasingly invested in understanding their health metrics and taking proactive measures, aligning with our mission to help people save money and live better.
Investing in Wellness: This will be compounded into people being more open to investing in testing as an investment in their health.
Awareness that early detection of issues leads to better outcomes.
Provider Incentives: Private Health Cover and Life Cover providers motivated to having mechanisms that offer added benefits to customers and potential customers to have marketing edge and reduce payouts for more significant interventions for later stage illnesses.
The Market
Identifying Market Needs: There is therefore gap in market developing for testing outside of being associated with doctor visits or healthcare settings and having it an annual or biannual activity.
There is need for convenient and accessible method for blood tests and a local pharmacy is convenient and accessible.
Leveraging Community Pharmacies: Our pharmacies provide high-quality, accessible, and affordable points of healthcare, playing an integral role in our community's well-being. However, local pharmacies see the potential threat to business if slice of revenues is eroded, necessitating additional efforts to connect patients to the brick-and-mortar locations.
Business Innovation Opportunity: There is existing infrastructure in retail pharmacies of consultation rooms for a range of activities. There is no business case for use of these treatment rooms.
Business case for creating consultation/testing pod that is marketed as a business unit with promoted services.
Pod could be branded “Randox” consulting and testing centre.
Pharmacists/healthcare staff of pharmacy trained in range of procedures – specifics developed by Pure.
Financials
Investment Opportunity: Retail pharmacies are now being sold at between 4 to 5 times EBITDA which is a +20% IRR.
Revenue: Increasing pharmacy revenues by 20% through innovation and promotion via onsite “Randox” centre creates IRR of 33% and so highly profitable business can be built using established businesses being repositioned.
Randox’s Impact
Better health is key to longer lifespans and earlier diagnosis is key to better health.
Randox Roll-out: Rolling out a network of “Randox” centres within retail pharmacies leverages existing infrastructure and creates a distributed local “testing centre” which can be widely rolled out at scale and very quickly by appropriate investment and partnering arrangements.
Brand Repositioning: Reposition “Randox” brand from being global leader in testing to being a brand that helps with keeping people healthy and living longer. This benefits humankind in numerous ways including, individual wellbeing, throughputs and capacities of healthcare settings and cost to the public purse of delayed medical interventions.
Technological Innovation: Associated technology will give further competitive advantage. At present no patient centred Tech exists which allows patients to hold the necessary information and control flow of information to various healthcare professionals. Updated lab results and vitals here play a key part of this information along with drug history and other inputs.
Health Passport