Corporate: This small cap is launching a medication delivery service

Medication management tech company MedAdvisor (ASX:MDR) will begin a same-day medication delivery fulfilment service.

The company has partnered with delivery company Kings Transport to ship right to people’s doors on the same day.

The service will begin in the second half of this financial year, initially in the major cities, and MedAdvisor will receive a portion of the shipping fee.

The platform sees $300 million worth of medication orders each year and MedAdvisor’s network consists of 3300 pharmacies.

The news comes only a few weeks after it raised $17 million – the majority of which came from major US healthcare provider HMS.

CEO Robert Read told Stockhead this move was to meet the expectations of customers of his network pharmacies for a personalised and connected customer experience.

“Offering full convenience to consumers has been our ambition from day one to continue to improve the accessibility of medicines in Australia,” he said.

“We have researched and found that for optimal medication management, it requires a tight relationship between pharmacist and their patients that improves convenience solutions to improve access to medications.”

He also told Stockhead there was potential for online pharmacy to capture 10 to 15 per cent of Australian pharmacy business.

The company’s share price rose 2 per cent this morning. Since the start of 2019, shares have been volatile but are currently 40 per cent higher than the start of 2019.

In other ASX small cap corporate news today…

Dual Australian and Hong Kong-listed base metals miner MMG (ASX:MMG) is delisting from the ASX. The company expects this to occur on December 4. It said the regulations and costs were not worth the effort considering the low trading volumes of its shares.

Olivers’ Real Foods (ASX:OLI) finally lodged its audited accounts one month after the due deadline. The company blamed the process of transferring between accounting systems. The final result was a net loss of $15.7 million although the trading loss was only $6.5 million. Shares have not yet been reinstated to trading, presumably awaiting the company’s quarterly report, although chairman Nicholas Dower said the quarterly result was “far better than expected”.

Clean Seas Seafood’s (ASX:CSS) legal fight against fish feed producer Gibsons has continued. The company alleges feeds given by Gibsons between 2008 and 2012 were defective resulting in stock losses. A trial is scheduled in February next year but a one day mediation is scheduled for November 28.