Competition, especially in the "Consumer App" space is always...

Competition, especially in the "Consumer App" space is always something I am wary of with these recent RTO's. I must say though, the MDR model is an interesting approach as far as MedTech goes, as you mention there are many large companies trying to or already in the space.

What MedAdvisor appears to do quite well, is simply medication management. Its not trying to manage all aspects of a doctor/patient relationship, not trying to store entire medical history and [yet].. perhaps most importantly, tackles a part of the medical process which is recurring and has revenue where the customer actually has some choice (in where they procure their meds).

This presumably means even pharmacies are inclined to try and support anything where customers become repeats at the same establishment, rather than shop around for a cheaper options. The CEO said somewhere they are trying to create "one pharmacist, one gp and one patient" which is quite clever, everyone benefits from the arrangement.

If they can crack it, then they will have a client list ready and waiting to incrementally improve their offerings. Potentially grow out other services in the space, but I really like their niche they are attacking - now aggressively with a marketing team - in the first instance.

It will be a land-grab in the first instance, the big barrier with any of this stuff is getting consumers to install and sign up. If you can achieve that and get continued engagement.. thats a lot more than can be said of many other (even large) companies in this space and other attempts to technologicalise various industries.

$10+ annual revenue per user now. With only a bit over 100k users, there is big scope to grow out the userbase, as well as ultimately the revenue share/margin and offerings if it works.

All that being said, this is just another RTO. Big risks, still not going to be profitable for a while yet (although the actual, existing revenue is a nice change from many others) so its far from a sure thing. I'm in for a punt, grabbed a few more today.. if this does a RAP, I don't want to miss it but not under any illusions that its a sure-thing.