Today, on 3rd May 2019, Respiri Limited (ASX: RSH) announces a Joint Venture Agreement for the company’s entry into India with MedAchievers Private Limited, which is an integrated platform for global healthcare, led by Dr Harsha Vardhan, Founder and Group Managing Director. The JV will be assisted by Australian-India business trade expert Mr Michael Koss. In order to successfully enter into the Indian market, the company will be looking for key relationships in Tier 1 and Tier 2 private hospitals. For this, Respiri and MedAchievers have clearly defined market engagement strategy that is targeting first Indian sales in October/November.
In the initial phase, RSH and MedAchievers have identified 200 cutting edge Tier 1 and 2 hospitals as the early target market. Importantly, MedAchievers has strong relationships with these hospitals, providing Respiri with the best possible opportunity to gain traction and sell at scale through these hospitals. Pleasingly, the initial feedback suggests wheezo™ will be sold as a product across patient demographics at similar pricing to other markets, due to the value it is able to deliver. CE/TGA approvals, Australian based clinical studies and the group’s Australian and UK KOL advisory boards all provide an excellent platform for wheezo™ to be branded in India as a trusted premium quality product.
Respiri sells to hospitals and pharmacies located within hospitals as B2B2C.
In India, a patient with breathing difficulties, such as asthma and COPD (Chronic Obstructive Pulmonary Disease), will present at a hospital and book an appointment with a pulmonologist. By contrast, the patients in markets, such as Australia (B2C) and the UK (B2C), the initial consultation is generally with a general practitioner. The JV partners are firmly committed to a B2B2C strategy for India, via the assistance of these hospitals and MedAchievers. Establishing the product through this strategy provides the validation and credibility for Respiri and wheezo™ to enter a broader number of Indian hospitals. Importantly, many of its current key partners, including Professor Bruce Thompson, Professor Frank Thien, Two Bulls, Grey Innovation and Ambassador, Michael Clarke, who spends a good three months of his year in India, are very supportive of the company’s commitment to help the market/country that arguably requires the most respiratory assistance in the world, mainly due to high levels of air pollution and a chronic lack of clinical capacity.
Professor Bruce Thompson stated that the ability to assist the Indian market by assessing and objectively monitoring key asthma/COPD symptom of wheeze presents a tremendous opportunity to make a significant contribution to a market that has more respiratory-related deaths per 100k people than any other country in the world. This ability to assist a market in need is very much in line with RSH’s vision of providing maximum assistance globally to asthma and COPD patients in need.
As per the second stage solutions, the company will be focusing on the rollout to second and third-tier cities as well as rural areas. Subject to achievement of the KPIs by the Indian partners, RSH will provide a first right of refusal to the India partners in respect of future company’s products, which are currently in their pipeline.
The stock of Respiri Limited closed the day’s trade at $0.100, up 1.01% (As on 03 May 2019), with a market capitalisation of ~$52.06 million. Today, it touched day’s high at $0.105 and day’s low at $0.100, with a daily volume of 415,940. Its 52 weeks high price stands at $0.165 and 52 weeks low price at $0.070, with an average volume of 247,532. Its absolute return for the past one year, six months and three months are -36.13%, 7.61%, and 22.22%, respectively.
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