- Loop Insights (MTRX) has signed a Pilot Agreement with PharmAssist Solutions, an independent pharmacy solutions provider in the UK
- PharmAssist serves roughly 15 per cent of the UK market by providing software solutions to 12,000 independent pharmacies
- Under the agreement, Loop Insights will implement its AI-driven analytics platform across all 12,000 pharmacies
- This agreement is the first deal that the company has entered through its contract with UK-based marketing agency SG-retail
- Loop Insights is up 3.98 per cent and is currently trading for $1.83 per share
Loop Insights (MTRX) has signed a Pilot Agreement with PharmAssist Solutions, an independent pharmacy solutions provider in the UK.
PharmaAssist provides software solutions to the 12,000 independent pharmacies in the United Kingdom. In doing so, the company currently serves roughly 15 per cent of the UK market.
Under the Pilot Agreement, Loop Insights will implement its AI-driven analytics platform into multiple independent pharmacy-affiliated locations. After the Pilot is successfully completed, Loop and PharmAssist plan to implement the platform across all 12,000 pharmacies.
This integration will allow independent pharmacies in the UK to gain insight into transaction details, shopping behaviours and habits, trends, and other helpful information.
Loop Insights’ CEO, Rob Anson, commented on the agreement with PharmAssist, and what it may mean for the company in the new year.
“Signing this Pilot with Pharmassist in the very early days of 2021 serves as a strong indication of Loop’s anticipated penetration into the UK and European markets,” he said.
“Coupled with our recently announced LOI to acquire Passcreator and take control of our technology in anticipation of major business developments in 2021, I can unequivocally say that Loop is heading into a major growth phase as promised in our letter to shareholders at the end of 2020,” he added.
In October of 2020, Loop Insights signed a referral contract with UK-based marketing agency SG-retail. Under the contract, SG-retail agreed to help introduce Loop’s services to leading UK brands within the marketing agency’s client base.
This agreement with PharmAssist is the first deal that the company has entered as a result of its relationship with SG-retail, but hopefully not the last.
Loop Insights is up 3.98 per cent and trading for $1.83 per share, as of 10:08am EST.