The Smartpatient The MyTherapy app was developed for use in chronic diseases. MyTherapy is designed to support therapy adherence and offers, among other features, digital medication management, a diary for measurements and symptoms, and printable health reports.
According to the company, MyTherapy is currently actively used by around 1.4 million patients. Smartpatient also offers its operating system to partners in the pharmaceutical industry as a basis for digital patient services: Using additional modules in the app, they can provide their patients with targeted support in dealing with specific illnesses or medications.
As has now been announced, Smartpatient will become part of Shop Apotheke Europe in the future. With this move, the online pharmacy aims to further expand its technological expertise in the field of digital healthcare services. The digitalization of processes and new digital offerings for patients are particularly important for the future growth of Shop Apotheke Europe, given the planned introduction of electronic prescriptions in Germany in mid-2021.
The exact purchase price has been agreed to remain confidential. In addition to an upfront cash component, the purchase price is comprised of three consecutive tranches, some of which will be paid through shares in Shop Apotheke Europe. The total purchase price is expected to be in the upper double-digit million range. The founders and the current management team will continue to manage Smartpatient's operational business.
Stefan Feltens, CEO of Shop Apotheke Europe, commented on the acquisition of Smartpatient:
"The expansion of medication management is one of our strategic pillars. Together with Smartpatient, we, as one of Europe's leading online pharmacies, are taking a pioneering role in this area and are further driving the development of a customer-centric ePharmacy platform. The focus is on digital service offerings that support patients in taking their medications regularly, thus improving treatment success."
Sebastian Gaede, CEO and co-founder of Smartpatient, says:
"We are delighted to be working with Shop Apotheke Europe to further advance digital medication management as an important component of a successful ePharmacy platform and to jointly support even more people in living with their illness. Both companies are leaders in their fields and complement each other perfectly."
Both companies expect significant positive effects from the integration of Smartpatient's activities into Shop Apotheke Europe's business, particularly in the area of prescription drugs. The Management Board expects the expansion of digital medication management to increase customer loyalty, especially among chronically ill patients.
Stephan Weber, CCO and co-founder of Shop Apotheke Europe:
"For over 10 years, we have been offering SMART, a unique therapy support program for chronically ill patients in Germany, which we are now further expanding and fully digitizing thanks to Smartpatient's technological expertise. Our goal is not only to provide our customers with optimal access to important medications, but also to offer them the best possible service in medication management and to be in contact with them on a daily basis."
