Pharmx Technologies (ASX: PHX) has increased its reach to 99% across Australia and New Zealand (ANZ) through a new strategic partnership with pharmacy management software provider Toniq.

Pharmx chief executive officer Tom Culver said Toniq supports more than 900 pharmacies with an estimated 85% market share in New Zealand’s pharmacy point-of-sale (POS) and dispensary software sector.

Pharmacies within the Toniq POS network will be able to migrate to the Pharmx electronic data interchange, Pharmx Gateway, making real-time inventory ordering, automated eInvoice generation and seamless supplier connectivity available.

Broader customer reach

Mr Culver said the collaboration would provide Pharmx’s supplier customers with a broader reach and more opportunities to scale business growth across the region.

“For pharmacies, it provides unrivalled efficiency and a focus on patient centricity by erasing time-consuming administrative tasks linked to ordering and inventory management.

“Across Pharmx’s strategic partnerships in New Zealand, Pharmx now has 99% coverage of the NZ pharmacy sector—this increases our regional coverage to 99% across both Australia and New Zealand.”

“This milestone reinforces our position as the leading pharmacy ordering network and strengthens our commitment to redefining industry connectivity.”

Revolutionising pharmacy supply

“The Pharmx Gateway has revolutionised pharmacy supply chains in our existing markets and we are thrilled to bring this innovation to New Zealand through a strategic partnership with a like-minded industry leader,” Mr Culver said.

“By extending Pharmx’s services to new regions, we are enabling more pharmacies and suppliers to embrace a connected, technology-driven, data-led approach to inventory and order management.”

Built to streamline pharmacy operations, the Pharmx Gateway has demonstrated the ability to save pharmacies an average of 40 minutes per order, which annually can equate to one full-time employee.

“Together, Pharmx and Toniq are on a mission to empower pharmacists, freeing them from the burdens of manual ordering and inventory management so they can focus on what truly matters: patient care.”