 Rich Picks Daily is an online community for traders to exchange smart, straightforward, and profitable investment ideas. Join us today at richpicksdaily.com, subscribe to us on YouTube to learn useful stock trading secrets, and discover the next ten-banker. Hi, how's everybody doing today? I'm your host Rich here on behalf of Rich TV Live with our very special guest, Karim Nassar, the CEO of MedNow. How are you doing today, Karim? I'm doing great, Rich. Thank you so much for having me. Thank you for joining us. Very excited to speak to you today. And why don't we get right started with some of the questions I have for you. MedNow is a healthcare company that offers an all-in-one virtual on-demand pharmacy. The first of its kind in Canada. Can you tell us more about the services the company offers? Absolutely. So we are building an online healthcare company that's anchored in pharmacy today. We've got an established offering in pharmacy in Ontario and British Columbia through MedNow Pharmacy. What that means is anyone can, in these provinces, reach a pharmacist right through our app, get same-day delivery if they are in Greater Toronto Area or Greater Vancouver Area for all of their pharmacy needs. And we're looking to expand that to a national offering very quickly, where we are available in all major Canadian cities doing that. And then finally, what we've really created is a way for you to manage all of your prescriptions and your medication through this app. So if you need the refill, it can be done through there. You want to look at your medication profile, it can be done there. So all about creating extremely convenient and accessible pharmacy care today. And then we're building out our offering to include other services like telemedicine as well as being national very, very soon. Wow, that's really exciting. The company is well-positioned in a relatively untapped market. Can you tell us more about the opportunities within the virtual pharmacy sector? What sets MedNow apart from the competition? Things that we're very excited about is the size of the market that we're after. This is a $50 billion market that's totally untapped in the kind of model of the pharmacy that we're doing, which is online delivery-based. Instead, today, that's mostly split up amongst about 10,000 stores or pharmacies across the country, coast to coast. And each of these are brick-and-mortars or chasing local business. So we're coming in to disrupt that. Feeding off of a trend that already existed, which is all around eating everything on demand, tech-powered. Uber Eats has done amazing with restaurants and how it literally your dinner gets delivered, whatever you want. It's the same thing with hailing cabs right through your app. So we're doing the same thing for health care. The last year with the pandemic coming in, what we were building on the outset to say like we want to create this digital channel to pharmacy when we recognize the trends that was already there to go on digital, COVID literally just sped up the adoption of all people to go into a virtual health care mode. So what would have normally taken years because health care kind of moves a bit slow now has been sped up. And in the matter of month, people are all going virtually for their health care needs. So we were perfectly positioned timing-wise, now really well funded to go and capitalize on that trend. And what we are really hoping to do today is to continue to build this national expansion ad service offering like telemedicine. And what's unique about our business compared to the competitors to answer your second question is our obsession with customer service and recognition of digital channel being a really good way to do pharmacy and to do health care has really been reinforced with the experience that we're coming in with co-founders that are built pharmacy businesses that are already earning more than $200 million in revenue. We've got technology expertise and logistics expertise and we're building it together in a way where kind of where the market wants to go which is the online channel versus the brick and mortar which as you may know has become a little bit more challenging in the times that we live in with social distancing and physical. So it's just a literally kind of a bit of a perfect storm that arrived where we had everything ready and we're continuing to capitalize on the trends that are existing in the market. Now you guys are in the right place at the right time. Can you describe what a typical experience that MenNow would look like for a first-time user? Well, Rich, imagine one day, you know, you need a prescription and you're at home, you recognize that you're busy with something else, you can't make it out to the pharmacy. So instead of having to figure out how to plan that, you take your phone out, go to our app, take a picture of that prescription or even the empty vial that's sitting on your desk and that prescription now will go get fulfilled at MenNow Pharmacy. If you need to see a doctor first, we can arrange for that. A few hours later, same day, the prescription arrives to your door for free and it totally transforms the day that you would have had otherwise which would have been trying to plan that pharmacy visit and going there and waiting until it gets picked up and so forth. So it's all about convenience. What we know today in what we've seen early customer experience is that convenience is so profoundly important for our customers that if you just go to Google and see the reviews there on MedNow.ca, it'll be very obvious to you why this is really a game changer when it comes to your pharmacy. Who is your target audience and how will your products and services improve their day-to-day life? Everyone needs pharmacy. It's one of those things where we have really developed as a medical technology, amazing medication to solve almost every problem in healthcare. But primarily the customers that we are really after are ones that are in need of constant support. They're taking multiple medications. You know, some people will take up to 10 medications at any one point in time. So they need a lot of help in organizing. How do I take these medications on time and appropriately? So we've got offerings like Pillsmart, which is a compliance packaging service offering that we do, which allows you to be able to literally have all your medications sorted in little pouches. And you know exactly what you're taking and when. That's a key target customer for us. But we also know that there are a lot of household managers that are very busy taking care of matters like groceries, the kids and so forth. Also, they don't have a lot of time to dedicate to going anywhere when it comes to their health care. So the same way they're using telemedicine, they need that support from pharmacy virtually. So we'll be able to provision that. And then lastly, there's a segment of millennials and people that are taking care of their parents. And those individuals, again, they're so used to going online for everything that it just makes sense to have pharmacy as well and virtual health care. So by having that facility for them and for their elderly parents that need that support, we really would be covering a lot of the key targets for us. But as I said, it's a really important need for a lot of people to have good pharmacy support. But these are the three key targets that we're after. Fantastic. Now, telemedicine. I love telemedicine is another area MedNow is expanding within. Can you tell us more about your telehealth services and how they fit in with the company's objectives? Absolutely. So one of the things that we know is extremely important in health care is what's the patient experience or what's the client experience? So we've focused a tremendous amount on making sure that MedNow pharmacy has, ultimately, one of some of the best experiences you can have going to a virtual pharmacy. We recognize the value of doing that as well with telemedicine. So instead of today, where there's telemedicine provisioned by another party and then pharmacies being fulfilled by us, we want to bring it all in house and really have diagnosis all the way to delivery available. And we're managing the customer experience throughout the process and making sure that it's kind of consistent and coherent in the MedNow way. One of the key advantages that will come out of that as well is that you'll have communication happening between pharmacy and doctors. And that actually makes that customer better off in terms of the support they get for their health care. That fits so much. And right into our strategy of being a national player that can have a spectrum of health care services and really create an all in one stop shop. You go to this place for all of your needs. Short of having to call 911, God forbid. So that's that's kind of the gameplay there. Now you describe MedNow as the one stock shop. What does this mean for the users? All you have to think about is MedNow. It's the whole idea of I need to take care of, you know, this problem today. My stomach doesn't feel well. Well, let me see if I can get some help through MedNow. Oh, my medication just ran out. And if you are a MedNow customer, actually, we'll get ahead of that request and recognize when you're about to run out and let you know, hey, do you want us to send you a refill? So it's all about creating very much one kind of thought process when around health care. If I need to help, I'm going to go to MedNow. Available through my app or I'll give them a call and then it'll all get sorted. It's a lofty goal and we know it's important to have it because there shouldn't really be that that breakup in the health care experience where you go to different places for different things where we're talking about primary care, the basics that you need while you're at home. We really want to be the answer to all of those questions. I love that. I love that. I hate going to multiple places for different things. One stop shop is a great idea all online. I think you're onto something big here. Now, MedNow recently made a presence in Manitoba. Can you tell us more about this process? What does the company look for in new locations? And are there any other cities on your radar? Oh, yeah, we're going national. So we're looking at a lot of places. Manitoba happens to be the next step. And what Manitoba gives us is access to Manitoba. In fact, Saskatchewan as well will be supported from Manitoba. We are actively in conversations in Quebec, so Montreal and then figuring out a pharmacy there, as well as Nova Scotia and being able to support the Maritimes out of there. Really, the goal is to get to a place where we're strategically allocating capital in places where we get to that national pharmacy offering as soon as possible. It's a bit like building a Silk Route for online pharmacy and for all things that have to do with health care. And once we have that infrastructure established, we really become a one of a kind offering in the market. And what it also allows us to do is a very cohesive experience. So for example, I moved to British Columbia. MedNow will support you there. The same pharmacy you were dealing with in Ontario can support you now in British Columbia. Oh, I'm now moving to Quebec. And really, that's for the consumer, but for businesses that are national, that's another big advantage. So if an employer wants to have all of their employees to take care of from one pharmacy, they happen to be all over Canada. Well, MedNow could still be their only pharmacy. So that really is our objective is to be able to go coast to coast support, whether it's a business consumer or a patient that comes to us through our VTC channel. We want to be able to provide that ultimate online pharmacy experience. That's fantastic. MedNow just began trading on the TSX Venture Exchange. What does the future look like for MedNow in the next year? Out the gate, we're all about becoming national and becoming national very quickly. We know the advantages that they'll give us as a company from revenue growth, from from user growth. And the telemedicine offering that we're building in parallel will really expand that spectrum of services so that we have more reasons why people want to be using us for whatever need they may have. Once we have that in place, you know, the the market today sort of can use to know that we've been using a measured growth in really building up the business because we wanted to make sure that all the pieces are working well, really well together. This is pharmacy after all, this is healthcare after all. So we have to be really attentive to the details. So our technology is being developed and it's built right now for our MedNow pharmacy as we expand it to the telemedicine offering and as we expand as the national offering, we're going to be approaching it again in that same tactful measured growth approach. So once we know that things are where they need to be, we're going to open up the floodgates for marketing and that's when we're really going to have that user growth and revenue projections that we've outlined for end of this year and next. I love your share structure. Super, super tight share structure here at Rich TV Live. We'd love to identify tight float stocks. So congratulations on having a really tight share structure. That is extremely appealing to our investors. How can an investor get in touch with the company, Kareem? Well, I always encourage everyone to go to MedNow.ca. There you can see all of our services. You can learn a lot about our company. And when it's time to talk investment, I would highly recommend you go to investors.mednow.ca. There you'll learn all about our company from that perspective. I are at MedNow.ca is our email address. And if you want to call, you can call 1-855-686-6300 and through there, you will also be in touch with our IR department. So please don't hesitate to reach out. We're really excited to be on this journey. And I want to be grateful for all the support that we've received so far from investors and from companies like Gravitas that helped us come together in this offering and the syndicate that included Stifle, 8-Capital, and Cancourt Genuity that helped us raise almost $37 million before IPOing. So it's a very exciting time. And we're well funded to go and execute on this vision. Very good. Well, thank you for joining us today. The CEO and co-founder of MedNow, Kareem Nassar. Remember, everyone, before you go and buy anything that Rich TV Live is strictly for education and information purposes, please do your due diligence, do your research before you invest in anything that we talk about. In saying that, I do believe the future is bright for MedNow. Tight flow, well capitalized, growing company, growing revenue. Obviously, a CEO that cares about growing the business and is doing all the right things. If you like the video, please smash the like button. Comment down below, share the video everywhere and subscribe. And if you're not winning, you're not watching. We bring you the winners and we bring them to you first. Thank you guys for watching. And Kareem, thank you for joining us today. Thank you for having me, Rich. Always a pleasure, Kareem. Love to have you back again. I'm sure we will in the future. Keep doing great work. And thank you guys for watching. Have a great day, everybody.