
In June of 2012, a company known as PharmaTrust had just filed for bankruptcy despite once having raised millions in capital for a brilliant concept. They had developed a kiosk which could dispense medications to patients, provide a live video chat with a pharmacist and achieve all of this without the costs or space requirements of a pharmacy. Investors loved the idea but for several years, nothing concrete was achieved which ultimately resulted in bankruptcy. As a last ditch effort a final round of funding was negotiated by a very savvy investor contingent on one condition: they had to deliver a working prototype within 90 days. If they did, funding to get the company back up and running would be granted and orders would be placed for 10 machines.
Phase I – Deliver Prototype
This is when we were engaged to ensure the prototype was delivered and that timelines to deliver all other orders would be met. We worked around the clock with a team of 20 robotics and software engineers to plan the design, build and testing of the working prototype. It was right down to the wire, but we succeeded which allowed the company to be resurrected as MedAvail Technologies.
Phase II – Establish Credibility & Deliver
With the company resurrected and a customer committed to several orders, we needed to establish a working relationship with the client. We also needed to ensure were were tracking to schedule. Due to the history of the organization we often faced skepticism from the client. Renaming the company and delivering one prototype was hardly enough to regain credibility. Therefore we set about establishing status reporting and regular client meetings to increase transparency and trust. We also went from a team of 20 to over 100 in 10 months. This was also the period where we moved to a formalized project management office, integrated planning and regular strategic discussions to ensure the company did not meander or lose focus.
Phase III – Delivery & Success
In conducting the above, we continued to deliver machine after machine on time and on budget. While it certainly did not happen overnight, we ultimately succeeded in regaining the trust of our investors and clients. What is perhaps the greatest is that in doing so, we also managed to deliver an exceptional Canadian innovation which will irreversibly alter the pharmacy industry.