05 Mar Medicine Dispenser Business Plan

Sunapto will manufacture and market an automated pill dispensing unit, the MedCabinet and a companion monitoring service to fill the medication compliance problem in the United States. Senior citizens often have multiple chronic diseases and/or suffer from multiple conditions. They consume four to five prescription medications and two over-the counter drugs daily. Nearly 67% don’t follow proper dosage instructions when taking their medication. The risk of hospitalization due to adverse medication outcomes in elderly patients is almost 6 times greater than that for the general population.

Sunapto’s mission is to provide people the opportunity to live better and healthier lives though the use of technology. They will provide medical systems for the home that will use patentable technology to ensure safety, ease of use and a continuous partnership with healthcare providers. The target market for their products is the 65+ age group. Thirty-five million Americans are in this group and the group is growing at 1% per year. They want to grow the company and establish their brand in home healthcare as a leader and innovator.

Sunapto’s marketing strategy will follow from industry/trade and physician/pharmacist awareness campaigns to specific executions directed at specific customer segments. Sunapto’s initial sales strategy is to sell the MedCabinet directly to consumers. The MedCabinet should sell for $700. It will provide medication users with the right pills at the right times.

Sunapto faces competition from automated medication dispensers, reminder systems, and compliance services in its medication compliance market. The closest competitor in the automated medication dispenser or compliance service market should be considered. Its weak points include its low cost, limited dosing events, and poor marketing and distribution channels. This makes it vulnerable to a new, improved entry.

Sunapto currently is in the prestart-up phase. Sunapto will start as an LLC in MidWest USA. The management team have extensive experience in growth-oriented technologies, finance, team leadership and development, as well as business unit development and finance. Because they have seen the challenges of seniors complying with their medications, the management team is keen to help solve the problem. Sunapto seeks to expand its management team with experience in sales, marketing, product development and medical devices.

Concept development is underway for the MedCabinet. Sunapto expects to have a working prototype within five months of plan initiation, and sales to begin twelve months later. Initial sales projections are 11,077 units during Year 2 and 13,419 units during Year 3.

Sunapto needs substantial investment to bring the MedCabinet to market. They anticipate two rounds. The founders have committed personal financial contributions for Round 1. Sunapto is currently seeking outside investors to help launch the company. These funds will go towards the development of prototypes, initial product marketing and management team gaps. They anticipate Round 1 outside investors to realize a healthy return per annum over three years. Round 2 funding will be required in the seventh month. Round 2 funds can be used to cover gaps in management, product development and marketing, as well as for contract manufacturing production costs. Sunapto anticipates Round 2 outside investors to realize a respectable return per annum over three years.

1.1 Mission

Sunapto is an innovative home healthcare company that brings healthcare home to enhance people’s lives. Sunapto offers home healthcare systems. These systems utilize technology to provide security, ease-of-use, and a partnership with healthcare providers. Sunapto plans to make a solid, but aggressive profit. This will ensure that the company is financially stable over the long term and provide investors and owners with compensation for their risk and money. They want to expand the company and establish their brand as a leader and innovator in home-healthcare devices. They plan to finance further growth using a combination equity investment as well as internally generated cash flow. Once their marketing platform has been established, Sunapto will continue developing new products. Sunapto will maintain a strong and cohesive work environment with a shared ethos and a passion to grow with the intensity that only comes from belief.

1.

2 Keys to Success

Sunapto’s success is dependent on these key factors:

• Product quality: Safe, reliable and simple to use product with a well-engineered, quality design, easy-to follow programming, precise dispensing, uncomplicated usage.
• Marketing: Once a quality product is available, the success of Sunapto rests in the marketing venue. MedCabinet can be a new product. It is important that people understand the benefits of this product in order to make it popular in a market that often has difficulty accepting new technology.
• Partnerships: Sunapto is a management/marketing/technology company, not a manufacturing company. They will depend on partners to produce the product and deliver it. Partnerships are essential.
• Philosophy Sunapto is in the business of earning a higher than usual return for its partners. In order to achieve this they will take a balanced approach in guiding the company. Sunapto is not going to be driven blindly by financial perspectives. They will instead be guided by four perspectives: Financial and Customer, Internal Process, Learning & growth, and Learning & Development.

1.3 Objectives

1. In Year 3, we expect to see a rise in sales of more than 24,000 MedCabinet devices.
2. Seven percent of units subscribed to monitoring and notification service by Year 3.