DocMorris Enhances Prescription Business and Boosts New Rx Customer Investment

DocMorris AG, operating out of Frauenfeld, announced significant growth in its prescription business for the first half of 2024. Sales of prescription medicines saw a year-on-year growth in July, driven notably by a quadruple increase in the monthly number of new Rx customers. Additionally, the company managed to achieve break-even in Q1 2024, excluding e-prescription expenses.

The introduction of the CardLink system for redeeming e-prescriptions has notably quadrupled new Rx customers compared to pre-CardLink numbers. This led to a 6% increase in Rx sales in July 2024 in local currency, marking a 36% rise compared to average Rx sales in Q1 2024. The DocMorris app's popularity has surged with monthly downloads more than quadrupling over the last year.

The company also noted a remarkable performance from TeleClinic, Germany's leading telemedicine provider, which saw revenues double compared to the same period last year. The liquidity position was further bolstered through the refinancing of its convertible bond and the completion of the sale of its Swiss property.

However, due to systemic transitions and challenges in the Rx ramp-up, DocMorris has adjusted its 2024 outlook. External revenue is set to increase by 5-10%, and adjusted EBITDA is projected to be around minus CHF 50 million, accounting for e-prescription investments.