Pilo is a ‘seed’ startup (a beginning startup that has not yet or has only partially begun to conduct business operations).
Bear in mind that any investment in such a business carries with it an especially high risk. Ensure that you fully understand the risks before investing in this type of business.
SUREST has developed an innovative and reliable solution to help patients take their medication: PILO.
PILO consists of two components:
A protective case for a smartphone incorporating a compartment specifically developed for storing medications.
An application that ensures follow-up and compliance with treatment.
With PILO, store your medications in your telephone and follow your prescription thanks to the integrated application. Your medications will follow you discreetly throughout the day!
Failure to comply with a medical prescription is a worldwide problem with a number of repercussions. Fifty percent of prescribed medications are not taken by the patients. The consequences are poor health, which can even lead to death, on the one hand and increased costs for insurers on the other hand.
(Source: Health Commission of the Concorde Foundation, May 2014)
*Forgetfulness * is the primary cause of failure to take medications. In France, there are 8000 deaths directly related to failure to comply with treatment. In the USA, the number reaches 125,000 annually.
WHO ARE OUR CUSTOMERS?
PILO is intended for anyone who must take medication regularly, in particular patients with cardiovascular ailments, high blood pressure, diabetes or epilepsy, as well as those with any other pathology requiring regular administration of medications (cancer, multiple sclerosis, polyarthritis, etc.).
PILO will also be a daily companion for all women taking oral contraceptives.
In order to develop the product to best suit customer expectations, PILO was tested under real conditions by several patients for 30 days. The results speak for themselves: the patients took 100% of the pills, although each of them had regularly missed doses before.
It’s great: I no longer have to dig around to find which bag I put my pack of pills in. When I’m travelling, especially to trade shows, it’s one less thing to take care of.Sophie, 39 years old, Commercial director
Ever since my stroke, it is very important for me to take my anticoagulant medication regularly. Thanks to PILO, I know I always have it with me.Annalisa, 46 years old, Teacher
To guard against the threat of counterfeiting, SUREST has developed a protective strategy that rests on three cornerstones:
1 - Creation and registration of a brand name specifically developed to create a strong link between the consumer and the product.
2 - Patent application guaranteeing full ownership and the legal means to enforce the rights of the company against counterfeiters.
3 - Marketing in a specialised distribution network, a guarantee of reliability ensuring closeness to consumers.
The patent involves a unique device for dissipating the heat generated by the telephone.
A thermal study of the iPhone allowed a heat dissipation device to be developed. In this video, we see that the compartment for storage of medications remains impervious to the heat emitted by the smartphone.
Dedicated application: the graphic interface and the ergonomics of the application have been developed to address precisely the recurring problems with which patients are confronted:
1 - A memory aid function: written notification and audio reminder for administration.
2 - A request for confirmation of administration. This second function provides an answer to the question ‘Have I already taken my medication?’ and so prevents forgetfulness.
3 - A logbook of the administration of each medication.
The application is 85% developed. It will be available on the App Store in four languages - FR, NL, IT, and ENG - by the launch.
The business strategy of SUREST relies on a sales team composed of two medical sales representatives for the Belgian market and an account manager for the French market, who will have the mission of visiting the pharmacies with high potential for sale of PILO in Belgium and developing sales in the pharmacy chains and groups in France.
At the same time, PILO will be available for sale on the internet via e-commerce.
This strategy is supported by a targeted digital marketing campaign, especially via patient groups on Facebook.
A press campaign is also planned.
Turnover is provided by sale of PILO via three distribution channels: sale in independent pharmacies, sale via groups of pharmacies, and internet sales
Retail price: € 59
FACTS AND FIGURES
There are 4950 active pharmacies in Belgium, 1500 of which are organised in pharmacy groups.
Of these, 2200 pharmacies are visited by two medical sales representatives. These pharmacies have been carefully selected for their location and their demonstrated commercial dynamism.
The proven order success rate in the pharmaceutical industry when a new product is launched is 1/3.
In 2018, PILO will be distributed on the French market according to the same distribution model as in Belgium. There are 22,111 pharmacies active in France, 14,000 of which form part of a group.
In 2019, PILO will be distributed on the retail circuit in the United States by means of partners specialised in the distribution of similar products.