Pharmacolog rolls out SaaS model for analysis software
Pharmacolog i Uppsala AB (publ) initiates the roll-out of analysis software delivered as Software as a Service (SaaS) according to the company’s new strategic direction. The introduction will take place gradually over the next few months, starting with France, which is a developed market for quality control of pharmaceutical preparations.
Earlier this year, Pharmacolog announced a new strategic direction for commercial development. In addition to a gradual expansion of distributors and partners, a SaaS model is introduced for the analysis software to ensure high sales growth.
When capital investments are required for hospital pharmacies to implement our solutions, it often entails lengthy budgeting processes. To simplify purchasing and enable more hospitals to reduce the risk of medication errors and increase patient safety, Pharmacolog chooses to offer an alternative. With the new SaaS model, the initial investment for the system is reduced by up to 75% and subsequently a subscription model for analysis software and services is applied. Over the next few months, the SaaS model will be introduced gradually, market by market, for DrugLog™ and PrepLog™, previously launched on the new hardware platform. First out is France, which is a developed market for quality control of pharmaceutical preparations.
Lars Gusch, CEO of Pharmacolog comments: “Pharmacolog is strategically positioned to accommodate the customers’ request for an alternative payment method with a significantly reduced initial investment through the SaaS model. At the same time, we create value for our shareholders by securing recurring revenue.”
Pharmacolog provides solutions and products that enhance work efficiency and safety when preparing injectable medication. Our goal is to help prevent medication errors and ensure maximum medication efficacy when treating patients with powerful yet potentially harmful injectable drugs. Pharmacolog’s products help staff at pharmacies and hospital wards minimize the risk of errors in the compounding process. Furthermore, by verifying that drugs and narcotics used in surgery have not been tampered with, our solutions also make a vital contribution to preventing drug diversion.