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Advanced Health (AHI) Stock Soared 140.5% on LOI With Pharmak

Simon Mugo trader
Updated 21 Jun 2023

The Advanced Health Intelligence Ltd (NASDAQ: AHI) stock price soared 140.5% after signing a letter of intent (LOI) with Pharmak Pharmacy LLC (Pharmak Direct), a UAE-headquartered e-script medicine management company.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The deal will see AHI enter its first partnership within the Middle East with a prominent stakeholder in the Middle Eastern e-script market, providing innovative digital home delivery prescription solutions for Health Insurance policy holders.

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The two companies will work together to embed AHI Technology into the e-script process enabling patient screening. After the integration, the AHI will receive 1.6% of the script value on e-script partners using AHI’s e-screening. 

Investors cheered the announcement, as evidenced by the rally in AHI stock price. The deal is the first-of-its-kind e-script and mobile screening point-of-sale offering. 

Pharmak Direct is a leading stakeholder in the Middle Eastern e-script market, providing innovative digital home delivery prescription solutions for Health Insurance policy holders. 

The company offers a comprehensive platform that enables payers, doctors, and patients to manage prescription compliance seamlessly, delivery and adherence electronically, enhancing the overall healthcare experience.

Pharmak is a unique company offering a transformative shift in the prescription landscape with its e-script dispensing and packaging system (ESPS), enabling its unique 3-minute e-script-to-packaged capability. 

The company has leveraged technology to digitise and streamline the end-to-end prescription process. Pharmak Direct enhances accuracy, efficiency, and patient safety, ultimately improving the overall healthcare experience.

The LOI stipulates that Pharmak will integrate AHI’s Biometric Health Assessment (BHA), enhancing the e-script patient experience and faiclitating cost-effective medication and health management solutions within the Pharmak Direct ESPS. 

Pharmak is committed to delivering the e-script and screening solution to all current and future Pharmak partners. It intends to seamlessly provide health data directly into the Pharmak ESPS, further providing Health insurers, government, and healthcare professionals with valuable insights into the patient's overall health status.

*This is not investment advice. 

Advanced Health (AHI) stock price. 

The Advanced Health (AHI) stock price soared 140.54% to trade at $1.78, from Tuesday’s closing price of $0.74.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading