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Just in case you think my previous post only rehashes the recent PR, think again! There's more detail in there regarding the specific robot purchased and its potential.
RXMD purchases ScriptPro robotic prescription dispensing system
Jan 28, 2016 PR regarding purchase:
http://finance.yahoo.com/news/progressive-care-pharmco-purchases-scriptpro-130000345.html
About ScriptPro
“ScriptPro develops, provides and supports state-of-the-art, robotics-based management, workflow, and telepharmacy systems for pharmacies. ScriptPro is dedicated to helping pharmacies lower operating costs, reduce dispensing errors and maximize customer satisfaction. ScriptPro technology helps pharmacies operate efficiently and profitably so they can make the maximum contribution to the healthcare system. ScriptPro, with headquarters in Mission, Kansas, provides automation to thousands of pharmacies worldwide.”
ScriptPro Mission Statement
“ScriptPro provides innovative, seamlessly integrated, robotics-enabled systems to optimize retail and ambulatory pharmacy services. As the focus of patient care progresses from inpatient to outpatient and long-term care settings, the need for advanced systems to support medication therapy is rapidly evolving. ScriptPro's unified workflow systems enable timely and efficient management of pharmacy dispensing functions, while integrating processes required for specialty pharmacy services, high-risk/high-cost medications, 340B programs, and home-based patient medication adherence. ScriptPro solutions include strategic planning and financial management services to help health systems succeed in a dynamic and financially challenging environment.”
PharmCo agreed to purchase a Compact Robotic System 225 (CRS 225) which
- Takes up 12.1 square feet, but has an operational foot print of 33.6 square feet
- Holds 225 containers/cells [probably could assign the same high-demand drug to multiple containers to reduce time spent refilling the machine or simply have a unique drug for each container]
- Can fill up to 150 prescriptions per hour (8 hr work day * 150 = 1200 prescriptions per day) (150 scripts/hr = 1 script every 24 seconds!!!) [as measured when working on two 30 count scripts at the same time, continuously for the one hour]
- Has a 99.70% counting accuracy (miscounted 3 pills out of a 1000)
- Fills directly from the dispensing cell into the prescription vial, meaning there is no drug cross-contamination
- Produces a "Robotic Cell Product Optimization Report," which recommends slow moving drugs to remove and fast moving drugs to load in the robot to maximize system utilization
- Prints and applies the prescription and auxiliary labels (auxiliary warning labels available in Arabic, Chinese (traditional), English, French, Italian, Korean, Maori, Portuguese, Russian, Spanish, Thai, and Vietnamese)
- Will be installed in PharmCo's 901 N Miami Beach Blvd facility once construction of a site expansion is completed
- Frees up staff to spend individual time with customers; talking to them, performing consultations, and other services (like Medication Therapy Management)
The Bureau of Labor Statistics lists the May 2014 median hourly wage for a Pharmacy Technician as $14.33. The median yearly wage was $29,810. The CRS 225 was purchased for $150,000 [fact courtesy of Instatrader’s conversation with Armen (post 29324)], which includes assembly, installation, delivery, and training.
Anatomy of CRS 150 robot:
http://www.scriptpro.com/Look_Under_the_Hood_CRS_150/
Video of the CRS line in action:
http://www.scriptpro.com/Videos/ScriptPro-Products/Robots/CRS-Compact-Robotic-Systems/
Sources of information: INSTATRADER, the Bureau of Labor Statistics website, the ScriptPro website, ScriptPro marketing material, and a ScriptPro Sales Director.
Two other important things to consider:
-More time for employees to consult with customers (i.e., MTM)
-The financial capacity of PharmCo to purchase an >$113k robot
The PR took some wind out of my post, but I was curious after looking at those panaroma photos of the company's store where exactly they were going to install the thing.
"the machine will be installed in PharmCo's facility upon completion of the site expansion build-out, which is currently in the permitting phase of completion"
Basic research on robotic prescription dispensing systems
I did some digging last week to get a general idea of what they are about. The first company I came across when performing a search was Scriptpro, of which I lifted the next two paragraphs from their website (notice some key terms in there). Looks like the PR beat by just a few minutes to post this info:
About ScriptPro
“ScriptPro develops, provides and supports state-of-the-art, robotics-based management, workflow, and telepharmacy systems for pharmacies. ScriptPro is dedicated to helping pharmacies lower operating costs, reduce dispensing errors and maximize customer satisfaction. ScriptPro technology helps pharmacies operate efficiently and profitably so they can make the maximum contribution to the healthcare system. ScriptPro, with headquarters in Mission, Kansas, provides automation to thousands of pharmacies worldwide.”
Mission Statement
“ScriptPro provides innovative, seamlessly integrated, robotics-enabled systems to optimize retail and ambulatory pharmacy services. As the focus of patient care progresses from inpatient to outpatient and long-term care settings, the need for advanced systems to support medication therapy is rapidly evolving. ScriptPro's unified workflow systems enable timely and efficient management of pharmacy dispensing functions, while integrating processes required for specialty pharmacy services, high-risk/high-cost medications, 340B programs, and home-based patient medication adherence. ScriptPro solutions include strategic planning and financial management services to help health systems succeed in a dynamic and financially challenging environment.”
After going through a number of pages on the website, reading over some marketing material from the company, and conversing with a Sales Director, I’ve compiled the following helpful information:
ScriptPro offers several different types of robotic dispensing platforms, but the following general information is in regard to two lines, consisting of 6 different machines:
•Robots can hold anywhere from 50-225 containers/cells [probably could assign the same high-demand drug to multiple containers to reduce time spent refilling the machine or simply have a unique drug for each container]
•Each container/cell has a volume of ~650-1900 cc (how many pills held depends on the size/volume of the pills)
•The fastest robot can fill 150 scripts/hour (that’s 1 script every 24 seconds!!!) [as measured when working on two 30 count scripts at the same time, continuously for the one hour].
•There is a 99.70% counting accuracy (miscounted 3 pills out of a 1000)
•It takes about 4-5 weeks to install a robot, with a variable training period after installation for staff
•Robots can be leased in lieu of purchasing
•91% of all Scriptpro robots installed in 1998 are still active (over 7000 Scriptpro robots installed since 1998)
•Prescription filling rate can be 40-75% of daily volume for a business
Scriptpro robots start out at around $113k, which includes pre-site evaluation visit, delivery, setup, and training. Leases can be structured for a buyout of the robot after “X” years.
The Bureau of Labor Statistics lists the May 2014 mean hourly wage for a Pharmacy Technician at 14.95 [lower 10% get $9.97/hr and upper 90% get $21.10/hr]. The median hourly wage was 14.33. The median yearly wage was $29,810.
Therefore, the yearly wages of 3-4 technicians over the course of a single year would cover the cost of a new $113k robotic prescription dispensing system.
Here’s my favorite part: Not only do the robots fill more prescriptions with fewer errors, but they also free up staff to spend individual time with customers; talking to them, performing consultations, and other services (like Medication Therapy Management).
Want to see a robotic prescription dispensing system in action:
https://www.youtube.com/user/ScriptProVideos
I had visions of Uncle Z ripping his shirt off while proclaiming his excitement for RXMD on (possibly LIVE) TV [in stark contrast to the mood Cramer was establishing in your scenario]. I don't know if it's live programming or not. Someone had ideas for a RXMD rocketship tattoo over the summer. Maybe paint that on the chest to really ramp it up this "Plan B" action plan should things take an unexpected turn.
Well, it's no frog lake pattern but I like the look of this chart! Thanks for the annotation, that helps tremendously since I have little chart experience.
Also as an aside, anyone recall a certain someone posting about how much his money was better off in a company that just reverse split and uplisted to Nasdaq?
His recent post "WHAT A PIECE OF SHIT WE HAVE BOUGHT INTO? The price action here tells me that the science I believed in so much is not there. I am losing a fortune and the loss increases each day I hold. I will have to decide to take my loss and bail."
Guess he should of listened and stayed in RXMD to balance out that portfolio.
Looking at the trading going on in the sub 0.02 range starting from December 17 [the 0.033 peak was on Dec 10 and RXMD closed at or above 0.02 between Dec 10 and Dec 17] until yesterday (Jan 13) and only ~43.7 million shares have traded (Avg 2.43 million per trading day). Those longs are holding strong.
Whew. I got in just in time then....to sell my one remaining share today. After all those reverse splits, I was not sure if one share would ever sell and I waited until 2016 so I could take the loss this year. Not sure what idiots bought the other 52.415 million shares, despite all the warnings. I guess they also want to take a loss this year.
It's funny how your max affordability levels keep going up for RXMD. Mine do too! First it was a million for you, then two, and now three! I crossed well over the million share threshold when I added shares last week to get in before all these PR's. No worries here with the price action of late, holding long.
"With the support of our loyal shareholders" [today's letter]
Agreed. IMO, a few individuals that bought in the subpenny area are selling on news because they feel the volume would be there to get out with profits and never had any intentions of waiting for the land of nickels and dimes. I would not define these people as "longs." Thanks to such people, I got some 0.018s last week while I was supporting the bid.
Thanks for sharing again. I'm coming up with a few questions that I might try to get answered but I'm waiting on the shareholder letter first to get the most out of the call. Did he call back the same day or next day?
Agreed. All one needs to do is notice how RXMD filed a Quarterly Disclosure Statement for the period ending March 31, 2015 on August 30, 2015, several months after they filed their other quarterly documents. Much to the chagrin of several on here, this company does take care to dot the "i's" and "t's". Be ready though when all boosters engage...
Wasting money? If I recall correctly, in the financials somewhere it stated Alan volunteerily took/agreed to a pay cut.
Count me in. Looking forward to spreading the word and continuing conversations about upcoming catalysts on other boards.
And this is the short version. Thanks for such a grand contribution.
Somehow you managed to capture all the same points I was going to post about.
I am looking forward to a great 2016 for RXMD.
As far as I know it has only happened the one time after new management took over in 2014.
I will have to agree with u that some other behind the curtains plans are occurring bc I don't understand why in the open letter to shareholders in 2014 that there was such great confidence in paying off the Tarpon debt of 1.8 million in 2015. That part of the letter really stuck out. Looking at how much was purchased by longs with great enthusiasm this past year, it would almost seem that without them it could not have been paid off. Since management could not have guaranteed that, that confidence stemmed from something else. JMO
No one getting my 1,077,000 shares for a loooonnnnggggg time. Adding more shares next week when the funds become available.
I was wondering the same thing two days ago, if board members would post or pm me or someone else that could just tally the numbers up.
I guess you are the chosen one...
Times2times2 is doing a good job as mod with stickies, in collating lots of info bc each mod can only sticky one post (I think I got that right). And he credits the original poster. But yes we should get the intro updated.
Lol, I got my cousin-in-law and my neighbor to buy some shares during the summer months. I just messaged my brother-in-law today. It will be a happy new year for them, your family Jimmy, and any other family members related to other board members here that are interested.
Wow, volume of 3 million traded within 30 mins of opening. The entire float turned over....very unlikely. Spend your money elsewhere folks. Postage to mail them your money to keep costs less then your trading fee.
My personal favorite graphic of his is still the RXMD DJ Kitty (Post 22375); this party is just getting started...$$$
Yes the approach is different. By using an injectable form of a scaffold, those with chronic SCI will not need surgery and it will limit any infections or complications associated with surgery. The only question I have regarding the injectable Trails is how positive the effects will be since acute SCI patients getting the NSS also have any damaged tissue removed to allow for placement of the NSS. It is unclear how much of the positive effects observed thus far are due to this removal of damaged tissue and how much is due to the NSS that is placed. It very well could be the combination and some of the variability seen in positive effects could be due to variability in how much of/well the damaged tissue is removed by different surgeons. What is exciting is that the webcast presentation will highlight some data from animals with chronic SCI given the injectable Trails.
A lot of the haters moved on to other tickers as well, where they think their efforts will have an impact.
I helped the push up yesterday morning, grabbing 30k shares at 0.016 at the ask on the way up. Great day today. More ahead.
Scottrade mobile works for me right now.
Awesome, first the "over 1 million shares/under a penny average" club and now a new club to join, sweet. My first two purchases were 0.039 and then 0.0225.
Completely agree. I've told myself many times to stop buying and yet again this morning I was dropping off a check with Scottrade. Let's hope the misses don't find out...
How's that five point harness holding up so far? The race upwards is just getting started...
$RXMD
To answer your question, while the company has stayed on course to pay the 1.8 million off within 2015 as a personal goal, I believe as part of the negotiated settlement with the creditors that they actually had 3 years to pay it off. So that would be 2 years ahead of schedule. :)
Like Instatrader pointed out before in a previous post, the runs this year most likely occurred when Tarpon was out of shares to issue and demand simply outstripped supply. The release of Tarpon tranches is timed with the PRs. This strategy has worked well for RXMD, allowing it to pay off it's negotiated debt way ahead of schedule. This same strategy will be a boon for many people, allowing accumulation at low PPS before Tarpon-debt-free news is out.
Has anyone ever asked how many delivery vehicles there are? Jasonstocktrader said there was a line of them in the parking lot when obtaining those great photos of the company and I was just curious.
How would the MJFF get suckered? The money is a grant. MJFF gets nothing in return, except moving the Foundation's mission statement forward in finding a cure to Parkinson's disease. The MJFF gets no financial gain whether the research outlined by AVXL crashes and burns or is successful. Maybe David Einhorn does not want to WASTE the money because it could have gone to a better research project, but they make that decision when evaluating all the grant applications and deciding which ones to fund that funding cycle.
"I think they do look at the company as well."
Again, they will not go out of their way to go online and look at quarterlies or current PPS. The only information they examine is what is in the grant that the company provides.
I'm a scientist. I've read grants. I've written grants. I've seen the process by which a committee evaluates a grant and whether or not to fund it.
They did like what the application described and funded it based on that alone. No extra DD needed.
Okay, let me rephrase. Their only DD would be READING THE INFORMATION in the grant application itself. They would not do any DD outside of the grant application. Grants are awarded based on the scientific merit of the application as well as the details about the company's resources and capacity to carry out said experiments as OUTLINED IN THE GRANT BY THE COMPANY. The MJF Foundation is not going to examine the background of the company's CEO, the past, current or future PPS, as well as other drugs in the company's pipeline. They ONLY evaluate the information IN the grant. They also do not fact check items for legitimacy as scientists are held to a code of ethics that may be outside the realm of some traders/investors to fathom.
The Michael J Fix Foundation would not do DD. They would evaluate all grant applications based on the preliminary data and future planned experiments in the application. Applicants could include companies, academic institutions, or an individual from a research lab that had some cool data and a good hypothesis. The details of qualifications to apply should be listed on the Foundation's website.
Agreed. Based on my consultation with experts with similar training as your expert chart reader (ie, my daughters and yours), the frog prince transformation pattern is traditionally followed by a happily-ever-after castle-full-of-gold pattern. Although I am guessing many of us longs will need a bigger gold vault in our castles with all these upcoming catalysts...RXMD $$$$
No way man. I'm so close to the 1M/0.01 club and I want in.
Something to consider for abstracts: deadlines to submit abstracts for a scientific conference are often due 4-6 months BEFORE the conference occurs. Speaking from experience, abstracts can be written in vague terms because one has not completely decided on what data will be presented, or even be generated if the biology cooperates, 4-6 months in the FUTURE. That being said, the biology could take a different turn (be it better or worse) and the presenter has to adjust accordingly. Data expected to be generated and shown my not have panned out, likewise unexpectedly great data may show up and be presented at the conference but was not described in the abstract that was submitted 4-6 months BEFOREHAND. It's a flip of the coin, which side will show? Hold stock or sell?
Disclaimer: I don't hold AVXL. Missed the pre split boat with the post split profits. :( holding out for a lower entry point. GLTA