iZafe Group AB ("iZafe Group") hereby announces that the company has signed an exclusive collaboration agreement with Targeted Outcomes for the rights to sell and market the pharmaceutical robot Dosell in the United Kingdom for a period of 5 years. Targeted Outcomes' minimum commitment over a five-year period amounts to SEK 18.7 million, after which a recurring license revenue of at least SEK 7.9 million annually will be generated.
Targeted Outcomes' annual minimum commitment for the purchase of Dosell increases annually during the agreed 5-year period. The minimum agreed sales volume amounts to a total of 1,810 Dosell units.
"We are pleased that more players want to take part in our products outside of Sweden. The United Kingdom is a very interesting market with great potential, expected to show increased demand for digital aids for safer medication at home. We have long been searching for the right partner to enter the UK market. The choice to collaborate with Targeted Outcomes is due, among other things, to their solid experience in medical technology and their broad industry contacts," says Anders Segerström, CEO of iZafe Group.
Targeted Outcomes is a medication management company that helps patients and prescribers better adhere to medication regimens and thus improve patients' health. The company was founded by Andrew Burr, an independent prescriber and clinical pharmacist with experience in implementing medication management programs in both private and public health sectors, and Andy Beesley, with experience in helping pharmacies distribute automated solutions to improve medication adherence.
"The agreement with Dosell supports a range of initiatives that will begin in 2023 to test the service in home care, nursing homes, and virtual care wards. The most expensive medication for the NHS is the one the patient is prescribed but does not take. If we succeed in improving medication adherence, we will directly improve the outcomes patients experience. Dosell has enormous potential to achieve this and improve pharmacists' contribution to patient care overall," says Andrew Burr.
"Our agreement with Dosell enables Targeted Outcomes to deliver a truly innovative and cost-effective solution. Through collaborations, we aim to prove that a holistic approach to medication management by bringing together pharmacies, care agencies, and service users will deliver benefits for all parties," says Andy Beesley.
About Dosell
The medicinal robot Dosell is a Swedish-made digital aid for safer medication at home and for people living in nursing homes. Dosell is integrated into welfare platforms and is sold as one of several integrated digital aids via partners.
In a Swedish report, it is estimated that 3,000 Swedes die annually from drug-related injuries and that 6–16 percent of hospital admissions are drug-related. The costs for drug-related injuries that can be avoided are estimated at SEK 5.6–24.6 billion per year.
Dosell notifies the patient when it's time to take the medicine, and if the medicine is not taken despite the reminders, Dosell alerts healthcare professionals or relatives who can quickly prevent an injury and improve compliance, thus minimizing drug-related injuries.
Read more at www.dosell.se
