PHARMX Technologies has secured a landmark multi-year strategic alliance with Sigma Healthcare, becoming the preferred Electronic Data Interchange (EDI) service provider across Sigma's wholesale operations and retail outlets in Australia, New Zealand and selected international markets.
With over 3,000 pharmacy customers in Australia, including Chemist Warehouse, Amcal and Discount Drug Stores franchises, this alliance embeds Pharmx into one of Australia's largest pharmacy distribution networks.
The partnership aims to improve the reliability, efficiency and transparency of ordering and supply chain interactions and goes beyond day-to-day ordering with collaboration on global EDI capabilities and a range of digital services designed to modernise pharmacy supply chains and support industry-wide efficiency.
As part of the deal, Sigma will gain a stake in Pharmx as it subscribes to approximately 10% of Pharmx's shares and gets a seat on the Pharmx board.
Pharmx will pay Sigma an establishment fee of approximately $8.7 million.
"This strategic, multi-year partnership with Sigma reflects a shared commitment to strengthening important infrastructure that underpins the pharmacy sector, whilst looking to create efficiencies in supply and ordering," said Pharmx CEO Tom Culver (pictured).
"By simplifying connectivity across the supply chain, driving data-led insights and delivering modern ordering solutions, we are aiming to improve the everyday lives of those managing pharmacies [...] giving them more time to spend focused on patient and community care."
Sigma CEO Vikesh Ramsunder commented that Pharmx'sproduct suite and the alignment in growthobjectivesmake the alliance "a compelling strategicfit".
"Byinvesting inPharmx, we move beyond a traditional supplier-customer relationship to a scalable partnership that reduces complexity, enhances supply chain performance, drives deeper analytics and createsvalueand growth opportunitiesfor both organisations," he concluded.
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