Jayex ready to commercialise remote medical cannabis dispensary tech in NZ
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Special Report: Jayex Healthcare Limited is ready to take advantage of the opportunity in the emerging NZ medical cannabis market to commercialise its remote medication dispensing technologies.
Jayex (ASX:JHL) is underway with its commercialisation program for its proprietary P2U® electronic script processing and BluePoint® remote dispensing technologies in New Zealand, with modifications to suit medical cannabis and the NZ market planned to be ready by the end of the third quarter this year.
Modifications include a cheaper price point to make it more attractive to the doctors and pharmacists who will be crucial to its acceptance.
Jayex has now put in place the infrastructure and team to start commercialising the technology in New Zealand.
It has also set up a wholly-owned local subsidiary to retain management and financial control over its New Zealand operations, and won’t have to rely on third-party licensees.
Jayex’s NZ subsidiary, which is managing the New Zealand expansion, is named Whakaora Hou, which means ‘new healing’ in Maori.
The NZ subsidiary is led by an experienced board of directors comprising leading New Zealand business, medical and corporate governance experts.
Chairing the NZ business is Denis McMahon, a well-known and successful property developer and property fund manager in New Zealand. He is the founder and now chairman of the Property Managers Group.
He is joined by Dr Wayne Beilby, a respected former lawyer, corporate governance expert, and a prominent figure in Maori law, politics and business, and Dr Franz Strydom, who will be the medical director and head of research. He is a skin cancer surgeon, specialist GP, and a co-founder of the New Zealand Skin Cancer College with expertise in potential medical cannabis therapies.
Whakaora Hou has leased premises near the major North Island Port city of Tauranga which, subject to licences being granted by the NZ Ministry of Health, will become the medical cannabis research facility and, later, part of the proposed commercial medical cannabis cultivation infrastructure.
Jayex is looking to capitalise on New Zealand’s rapid move to legalise medical cannabis.
Their commercialisation strategy, depending on licensing from the Ministry of Health, involves a medical cannabis research and cultivation arm, but the more innovative route is by offering an ancillary service.
This is the remote dispensing tech.
CEO Nick Fernando says their initial plan is to sell or lease 5 BluePoint® remote dispensing terminals, as part of their strategy to engage New Zealand doctors and pharmacists in the technology based prescribed sale and distribution of medical cannabis to potentially thousands of palliative care and terminally ill patients.
The final, BluePoint® terminal pricing will be finalised once the medical cannabis regulations come in.