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Medbox Acquires 50% Of MedVend And Its Patented Technologies

The company has exclusive rights to Patent Number US7689318, an asset now jointly owned by Medbox. A summary of the patent is as follows:

"An inventory control and prescription management and dispensing system including a dispensing vault for storing and dispensing prescriptions in communication with a central computer system which communicates with prescription providers, insurance companies and other third parties. The vault includes robotic means for dispensing pre-filled prescriptions with the aid of RFIDs, barcodes or other means for verifying the medication to be dispensed. The vault uses patient biometrics, a patient registration system, insurance information and doctor information to process the transaction and dispense a specifically labeled pre-filled prescription to the patient."

Medvend enjoys many different revenue streams and benefits, as listed below:

MedVend has 5 main revenue streams:

  1. Sale of fully Automated Medication Dispensing Systems
  2. Sale of Medication
  3. Flat Management fee per dispensed Rx
  4. Marketing Programs on Automated Medication Dispensing Systems
  5. Monetizing anonymous data points through sale of data to Pharmaceutical R & D and marketing companies




Benefits to Medical center, Physician office, Urgent cares, and ER's:
  1. Profit Center for Healthcare facility
  2. Unparalleled convenience to Patients for competitive edge
  3. 100% write off under Tax rule 179 and Tax Code 44
  4. Assist practice in meeting their meaningful use requirement
  5. Assist the Hospital in reducing the attrition rate of patients coming back from standard nursing facilities (SNF's) by obtaining their meds prior to leaving the hospital.




Patient Benefits:

  1. Unparalleled convenience
  2. Competitive Rx cost
  3. Addressing their ailment at the point of care
  4. A higher quality assurance through automation on the prescription fulfillment

The company has already passed beta testing and currently has several machines in the field and is currently working with several large hospital groups to bring this unparalleled level of convenience to patients across the country by the end of 2013.  

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