Remedok: CHF 50’000 to reduce medicine waste
Remedok recently obtained a Digital Seed loan of CHF 50’000 from the Foundation for Technological Innovation (FIT). The start-up develops a digital platform for drug and health professionals, with the aim of decreasing medicine waste by allowing them to reduce their stocks.
A major part of a pharmacy financial losses is due to expired products: they usually cannot be returned to the wholesalers or exchanged and are thus removed from stock and destroyed. Approximately 1’000 CHF are lost each month by a pharmacy because of expired products. At the same time, shortages of drugs that are left without any alternative supply possibility are becoming more and more common, and pharmacies are faced with ever narrower margins on drug sales.
This is why Remedok created a B2B marketplace, translated into three languages (German, French and Italian) and dedicated to drug and health professionals. By selling soon to be expired or overstocked products at attractive prices on the platform, the pharmacist will reduce the number of his out-of-date products, lower his financial losses and destruction costs induced by these products. On the other hand, the buying pharmacist can purchase products at reduced costs. Accessing the platform is free, and Remedok only perceives a commission if a sale is closed on the platform. With a delivery system in whole Switzerland, including refrigerated products, the start-up hence enables drug and health professionals to join forces for the reduction of medicine waste, with economic benefits.
Founded in 2018 by Manuel Masconi, Flavio Valceschini and Arnaud Dandieu, Remedok recorded more than 150 registrations from pharmacies on the platform during the first year. Wholesalers are Remedok’s partners and their customers include independent pharmacies, groups and chains of pharmacies.
“An important step for Remedok’s development is the integration in pharmacies’ stock management software so that pharmacists can directly order available products on Remedok, explains Manuel Masconi, co-founder of Remedok. The FIT loan will allow us to carry out the first developments to integrate our solution to our partners’ software”. Meanwhile, Remedok also plans on reinforcing its presence on communication channels, on expanding in Switzerland and on developing a version of the platform dedicated to the hospital sector.