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Athena Global Technologies Subsidiary MedleyMed Enters the Global Market with a Suite of Digital Solutions for Both Pharmacy and Patient Care

Posted On: 2021-09-27 17:23:11 (Time Zone: IST)

MedleyMed, a subsidiary of Athena Global Technologies Ltd (BSE: 517429, ATHENAGLO), has entered U.S. and other global markets with a suite of digital health solutions for both pharmacy businesses and patient care. The company which is present in the niche segment is also expanding its operations within India and has strong plans to launch its exclusive epharmacy and telemedicine services by the end of 2021 and offline pharmacy presence through a franchisee network under MedleyMed brand.

Some of the key features of MedleyMed include -

MedleyMed offers end-to-end digital health products and solutions, keeping in mind the digital requirements of every stakeholder in the pharma and healthcare ecosystem. It provides varied solutions that are customisable to any specific content and workflow and Plug and Play Solutions that can integrate with existing software, thus providing superior customer-patient engagement.

- B2B, B2C solutions and telemedicine platform enables both consumers and pharmacies to purchase pharmaceuticals/ medicines at the lowest price

- SaaS based Tele medicine Platform to hospital

- SaaS based ERP and POS platform to medical stores

- Business model easily scalable to international markets

Since the outbreak of coronavirus disease (COVID-19), globally the demand for digital healthcare products and solutions has increased tremendously. Primarily, there are three entry points: Direct to Consumer (retail health and wellness), Direct to Patient (care management), Direct to Employee (some combination of the other two). All three are growing rapidly during COVID-19 and it is in these markets that MedleyMed has found opportunities. To tap into this potential business opportunity, Athena Global Technologies, the parent company of MedleyMed, took the strategic decision of strengthening the business operations of its subsidiary MedleyMed, by setting its footprint in the U.S. and other countries.

Announcing the business expansion plans of MedleyMed, Mr. M. Satish (Satyendra), Managing Director, Athena Global Technologies and MedleyMed said, "Globally, Covid-19 has facilitated and accelerated a massive uptake of digital health solutions and the healthcare providers and consumers continue to view digital solutions as an important modality for their future care needs. With an existing suite of business offerings in B2B and B2C healthcare platforms, we see great potential in the global market and have decided to expand our business operations."

"MedleyMed's advantages include flexibility in its business model- deployed as SaaS, PaaS, license, white-label or OEM - and the ability to do needed customisation to the existing platform to fit US market and customer needs," he further added. Benefits to Pharmacies: MedleyMed's platform currently enables retail pharmacies to purchase drugs directly from manufacturers or lowest cost distributors, leading to considerable cost savings. The platform's eScripts functionality will enable patients to fill their scripts from the lowest cost pharmacies and have' the scripts delivered' directly to them.

Benefits to Pharmacies comes in the form of: Best pricing on drugs real-time access to inventory and pricing, Analytics based intelligent ordering, Single interface to order and track products and Visibility into patient habits, family profiles among other benefits.

Benefits to Consumers & Hospitals: MedleyMed's Telemedicine and eprescriptions Platform for hospitals and consumers to create and sell new products and services. While the platform makes the entire doctor consultation process easy and convenient at a click of a button, it also helps the hospitals in setting up custom design virtual clinics.

Shares of Athena Global Technologies Limited was last trading in BSE at Rs. 63.95 as compared to the previous close of Rs. 61.5. The total number of shares traded during the day was 3191 in over 46 trades.

The stock hit an intraday high of Rs. 65.7 and intraday low of 57. The net turnover during the day was Rs. 200899.

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