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Mednow Signs Franchise Agreement to Open Quebec Pharmacy
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Rhea-AI Summary
Mednow Inc. has launched a new pharmacy distribution center in Quebec, expanding its reach with fast, free prescription delivery. The 6,300 sq. ft. facility features virtual and in-person consultations, enhancing holistic patient care. Led by Director of Pharmacy Raji Al-Kurdi, Mednow aims to provide comprehensive services for chronic condition management. This expansion aligns with Mednow's goal to establish a national presence, supporting sustained business growth.
Positive
Launch of a new pharmacy distribution center in Quebec, enhancing service reach.
Facility includes virtual consultations, improving patient care access.
Partnership with Pharmacie Raji Al-Kurdi Inc. supports holistic patient management.
Negative
None.
Mednow’s Quebec location serves all of Quebec with its pharmacy delivery distribution center plus virtual and in person patient consultation space.
TORONTO & SAINT-LAURENT, Quebec--(BUSINESS WIRE)--
Mednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW) (OTCQX:MDNWF) Canada’s on-demand virtual pharmacy, is officially open to serve patients in Quebec. This newest Mednow location will serve as the pharmacy distribution center (the “Quebec Pharmacy Distribution Center”) for all Mednow customers in Quebec, offering Mednow’s fast, free prescription delivery and deep commitment to holistic, pharmacist-led patient care.
In addition to creating space for in-person pharmacist consultations and clinics, the ~6,300 sq. ft. facility prioritizes virtual patient care with a thoughtfully designed space for multiple pharmacists to do real-time private virtual patient consultations and medication reviews and provide virtual clinic services and prescriptions for minor ailments.
Mednow Director of Pharmacy, Quebec Raji Al-Kurdi, PharmD, is a Certified Diabetes Educator (CDE) and joins other Mednow CDEs in furthering Mednow’s commitment to holistic patient care, including managing chronic conditions such as diabetes. This latest expansion for Mednow is made possible in part through an affiliation with Pharmacie Raji Al-Kurdi Inc.
“I studied to become a pharmacist out of a deep desire to help people,” said Raji Al-Kurdi, Mednow Director of Pharmacy Operations, Quebec. “Mednow and Pharmacie Raji Al-Kurdi Inc. are deeply aligned on this commitment to the best patient care, built on a solid online pharmacy foundation which made joining together an easy decision.”
“We’re thrilled to serve Quebec. Launching in Quebec is in line with our goal of being a truly national virtual pharmacy operating all across Canada, serving Mednow patients where they live and work,” said Ali Reyhany, Mednow CEO. “The goal of having a physical presence serving each province ensures we are able to deliver on our core commitment of providing the highest level of care for individual patients and benefits plan administrators, in turn driving sustainable business growth for Mednow.”
Mednow is focused on improving delivery of pharmacy services in Canada through digitization to provide better patient access to pharmacists, doctors and other healthcare professionals.
“We believe patients have the right to benefit from technological advances and enjoy the same level of convenience and efficiency as other industries, and that’s why we have strived the build a progressive pharmacy,” Reyhany said.
The Quebec Pharmacy Distribution Centre is located at 4800 Dobrin Street, local 101, Saint-Laurent, QC. It is powered by modern automated prescription fulfillment and dispensing technology. This newest addition to Mednow’s growing national footprint enables fast, free prescription delivery often the same day to Montreal Island, North Shore and South Shore, next day delivery to other major centers and two+ day delivery to rural areas.
The Quebec Pharmacy Distribution Center is owned by Pharmacie Raji Al-Kurdi Inc. and is operated pursuant to a franchise agreement (the “Franchise Agreement”) between Mednow and Pharmacie Raji Al-Kurdi Inc. ("Franchisee").
Pursuant to the Franchise Agreement, Mednow will provide the Franchisee with the following: (1) access to technological infrastructure, including the Mednow web and mobile application, (2) future access to Mednow’s telemedicine/virtual care online platform, (3) access to purchase medications from large suppliers and wholesalers, (4) access to Mednow’s shared support functions such as human resources/payroll and finance, (5) the ability to benefit from Mednow's national marketing campaigns, and (6) access to use some of the Mednow's pharmacy equipment.
About Mednow
With the Mednow app (Apple | Android | web browser) or by calling 1-855-MEDNOW-1 (1-855-633-6691) Mednow patients — including busy parents juggling multiple prescriptions, caregivers, and seniors — can interact with pharmacists for things like medication reviews, care plans and consultations. Mednow patient’s vital prescription medications are delivered fast and free, often the same day depending on location. Refills arrive automatically. Over-the-counter medications and supplements also ship free when accompanying a prescription delivery.
Mednow patients can also easily view their full medication history and receive automatic prescription refills.
Mednow’s PillSmart™ makes daily medications and supplements easy to take and hard to forget. PillSmart safely packages medications into easy to open individual packs, each printed with the contents, date and time of the next dose. This helps ensure patients don’t forget their important medications and supplements and helps eliminate accidental double-dosing. Mednow also offers Karie, an automatic medication dispenser that organizes, schedules, and delivers medication with the touch of a button.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to: the capabilities of the Quebec Pharmacy Distribution Centre, the goal to have a physical presence serving each province, Mednow’s focus on improving delivery of pharmacy services in Canada through digitization to provide better patient access to pharmacists, doctors and other healthcare professionals, Mednow’s ongoing plan to build a progressive pharmacy, Mednow’s obligations to the Franchisee and of the Franchisee under the Franchise Agreement and the capabilities of Mednow’s PillSmart™ and nutraceutical offerings.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Franchisee will comply with its obligations under the Franchise Agreement, that the Franchise Agreement will not be terminated early, that the Quebec Pharmacy Distribution Center and the partnership between Mednow and the Franchisee will be successful, that there will be no adverse changes in government regulations of the healthcare industry, stability in financial and capital markets, that Mednow will be successful in opening additional fulfillment centers, integrating and optimizing technologies, growing its network of patients, doctors and pharmacies, and lowering costs and expectations regarding the level of disruption as a result of the COVID-10 pandemic and the conflict in eastern Europe.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation that the Franchise Agreement will be terminated, that the Franchisee will fail to comply with its obligations under the Franchise Agreement, or act or omit to act in a way that adversely impacts the Quebec Pharmacy Distribution Center or Mednow’s reputation, that Mednow will not be successful in opening additional fulfillment centers, integrating and optimizing technologies, expanding its network of clients and partners, and other risk factors set out in the Company’s annual information form dated February 11, 2022 for the year ended July 31, 2021 available for review on the Company’s profile at www.sedar.com . Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
