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. Elderly people often have multiple health conditions, and/or chronic conditions. They typically consume between four and five prescription and two over the counter medications per day. Nearly 67% don’t follow proper dosage instructions when taking their medication. Alopecia-related adverse medication outcomes are nearly 6 times more common in the elderly than in the general population.
Sunapto’s mission, through technology, is to help people live better lives. They will create medical systems for the house that are patentable and will work in partnership with healthcare providers to provide safety, ease-of use, and support. Their target market will be the over 65 age group. Thirty-five million Americans are in this group and the group is growing at 1% per year. They intend to grow their business and establish themselves as an innovator in home-healthcare devices.
Sunapto’’s strategy for marketing will extend beyond industry/trade and pharmacy awareness campaigns to targeted executions directed at certain customer segments. Sunapto’s initial sales strategy is for the MedCabinet direct to consumers. The MedCabinet, which will give medication users the right pill at right time, is expected to retail for $700.
Sunapto faces competition within the medication compliance space from automated medication dispensers (reminder devices), and compliance companies. An equivalent product in automated medication dispensers and compliance services is the closest competitor. Its strengths include its low price, limited dosing options, and weak marketing strategies and distribution channels. It is therefore vulnerable to an improved entry.
Sunapto’s pre-startup stage is complete. Sunapto is a start-up LLC that will be located in the MidWest of the USA. The management team is experienced in business unit development, growth-oriented technology, finance, team leadership, and development. The management team has seen the difficulties of elderly people complying with their medication regimens and is determined to be part of the solution. Sunapto is looking to add sales, marketing and medical device product development experience to its management team.
The concept stage of the MedCabinet has begun. Sunapto plans to have a working prototype ready for sale within five months of plan initiation. Sales will begin 12 months after plan initiation. Initial sales projections are for 11,077 units in Year 2, and 13,419 Units in Year 3.
Sunapto will need substantial investment to bring MedCabinet to the market. They anticipate two rounds. The founders have pledged personal financial contribution for Round 1. Sunapto is currently seeking outside investors to help launch the company. These funds will be used to fill in gaps in the management team, for prototype development, and for initial product marketing expenses. They expect round 1 outside investors to generate a positive return on investment over three-years. Round 2 funding will be needed during the seventh month of operations. Round 2 funds can be used to cover gaps in management, product development and marketing, as well as for contract manufacturing production costs. Sunapto predicts that Round 2 outside investors will realize a respectable annual return over three years.
1.1 Mission
Sunapto is a home healthcare technology company dedicated to enhancing peoples’ lives by bringing healthcare home. Sunapto offers home healthcare systems. These systems are technology-based and provide safety, convenience, and continuous partnership with healthcare providers. Sunapto intends to seek a fair, yet aggressive profit, which will allow the company to be financially healthy for the long term as well as provide compensation to both owners and investors for their money and risk. They plan to expand the business and establish themselves as an innovator and product leader in home healthcare devices. They plan to finance their continued growth with a mix of equity investment and internally generated capital flow. After their marketing platform is established, Sunapto plans to continue developing new product extensions. 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 key to success are:
- 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 has been developed, Sunapto’s success rests on its marketing strategy. MedCabinet represents a new product. Market penetration is difficult in a market that has a lot of resistance to new technology.
- Partnerships: Sunapto is a management/marketing/technology company, not a manufacturing company. Partners will be required to produce and deliver product. The establishment and maintenance of partnerships will be crucial.
- Philosophy Sunapto exists to provide a greater than average return for its business partners. They will use a balanced approach to guiding the company in order to reach this goal. Sunapto will not be driven blindly from the financial perspective, but will be guided by four perspectives: Financial, Customer, Internal Process, and Learning & Growth.
1.3 Objectives
- By Year 3, more than 24,000 MedCabinets will be sold.
- By Year 3, seven per cent of all units had subscribed at least to monitoring and notification service.
