I now have some time to review my notes and post. Apologies if it's a bit jumbled.
First, the boring bits. All motions passed. I didn't see any hands raised to oppose. There were approx a dozen people in 'the crowd'.
DOMESTIC FACTOIDS
- Close to 1M users after 925k were announced at EOFY.
- 24 new team members joined MDR last financial year.
- Funded to break even domestically with current budget into 2018.
- Domestic market position is extremely strong (most integrated platform, scalable, user base revenues improving).
- 50%+ of pharmacies are connected with MDR and they integrate with all dispense platforms.
- Management predict another record year of growth and achievements for FY18.
- MDR have 3 applications with which to connect with GPs - OzDocsOnline, GP Link, GP Connect.
- Mentioned long sales cycles to onboard the big pharma / PEP customers (pen tests, UAT, adoption process).
- One customer took 1 year from signing commercials to passing all security and other onboarding steps.
- MDR will look to improve this to fast track new PEP customers.
- They increased the price of their service with pharmacies and didn't lose a single client, suggesting potential to apply some more wiggle room with additional features in the future.
- Revenue is switching from SaaS to user based revenue (now 350 users per connected pharmacy)
- The domestic acquisitions not only attracted great businesses but amazing people.
- PlusOne is a CRM tool that allows pharmacists to see all patients info and target customers with configurable algorithms to come up with new users that may not have been engaged.
INTERNATIONAL FACTOIDS
- AU market highly fragmented with 3500 pharmacy owners, essentially CEOs of their own business.
- AU market has 13 dispense vendors with which to integrate.
- MDR see the UK as the next logical market for expansion - only 2 dispense vendors.
- MDR already assessing UK market with options - can sell technology elements, not the entire product stack.
- US apps are 'glorified alarm clock reminders' - do not have the integration and white labeling options.
- They are already looking with EBOS to further developments internationally and grow market segments.
- EBOS is now a cornerstone investor buying shares on market and also via placement.
- Plans in place to expand revenue by another $4M this FY.
- EBOS ($2.6B MC) own Symbion, HPS and Zest.
- HPS opens up a hospital channel for MDR.
- The relationship with EBOS opens up 3rd and 4th opportunities internationally NZ and Asia, behind UK and US.
- MDR very aware of not burning cash. Not willing to spend $10M and simply open the shutters in the US and announce "we're here". Any steps in the US will be targeted.
http://www.ebosgroup.com/
http://www.eboshealthcare.com.au/
http://www.symbion.com.au/
http://www.hps.com.au/
http://www.zest.com.au/
HBOS have bought in at $0.0575 with 14%.
They are allowed to buy on market up to 19.9% before announcing takeover.
It was suggested they may look to accumulate anything under their share acquisition price and why wouldn't they.
I'm confident MDR will grow at even faster rates than last FY.
GLTAH (old and new)
Oh and hat tip to mickyj. I was sitting in the same row at the end on your left. Sorry I had to leave without chatting to you or Management.
(20min delay)