Arrow Pharmaceuticals and Douglas Pharmaceuticals form new joint venture, MyPak
Arrow Pharmaceuticals Pty Ltd and Douglas Pharmaceuticals are pleased to announce that they have formed a new joint venture company, MyPak Solutions Pty Ltd.
MyPak Solutions is set to become the leading Dose Administration Aid (DAA) company in the Australian pharmaceutical and aged care industries. DAAs have been designed to assist consumers in the community to better manage their medicines and improve medication compliance.
Through its recent acquisition of Practicare (consumables and market leading software) and Medico, MyPak Solutions will provide the Australian market with an end-to-end industry leading DAA solution.
Additionally, the company also has the Australian distribution rights to the Japanese manufactured Alpaca Blister Pack Dispensing Robot, which leads innovation in pharmacy automation.
Chairman of Arrow Pharmaceuticals, Dennis Bastas said:
“The incorporation of MyPak Solutions and its acquisition of the Medico and Practicare businesses enables us to provide our customers with a complete solution in the DAA market in Australia.”
Managing Director of Douglas Pharmaceuticals, Jeff Douglas commented:
“We are leaders in the DAA market in New Zealand and we will be bringing our learnings to this joint venture with Arrow for the Australian market.”
The government has recognised the important role of DAAs in community health care by providing funding of $100 million in the 2017/18 financial year to enable community pharmacists to provide DAA services.