Sunapto will market and manufacture an automated pill dispensing device, the MedCabinet, and a companion monitoring system to address the problem of medication compliance 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% of all elderly patients fail to follow important dosage instructions for their medications. Hospitalizations due to adverse medication outcomes for elderly patients are six times more likely than those in the general populace.
Sunapto’s mission is to provide people the opportunity to live better and healthier lives though the use of technology. They will develop medical systems for the home using patentable technology. This will ensure safety, ease-of-use, and a partnership with healthcare providers. The target market for their products is the 65+ age group. The group comprises 35 million Americans, and it is growing at 1% a year. They intend to grow their business and establish themselves as an innovator in home-healthcare devices.
Sunapto’â€™s marketing strategy will be based on industry/trade awareness campaigns and physician/pharmacist awareness campaigns. Specific executions will then be directed at particular customer segments. Sunapto’s initial sales strategy was to direct sell the MedCabinet to consumers. The MedCabinet should sell for $700. It will provide medication users with the right pills at the right times.
Sunapto faces competition in the medication compliance market from reminder devices, automated medication dispensers and compliance services. A similar product is needed in the automated medication dispenser market and the compliance service market. Its weaknesses include its high cost, limited dosing occasions and weak marketing and distribution channels. It’s vulnerable to new and 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. Management team members have witnessed the issues of medication compliance in their own families and are committed to helping solve this problem. Sunapto is seeking to increase its sales, marketing, and product development experience.
The MedCabinet Concept Development Stage is complete. Sunapto expects to have a working prototype within five months of plan initiation, and sales to begin twelve months later. Initial sales projections are 11,077 units during Year 2 and 13,419 units during Year 3.
Sunapto must raise substantial capital to bring MedCabinet into market. They anticipate two rounds. Round 1 is expected to see personal contributions from the founders. Sunapto is currently seeking outside investors to help launch the company. These funds will be used for management team gaps, prototype development and initial product marketing expenses. They expect Round 1 outside investors will realize a healthy return per year over three years. Round 2 funding will be required in the seventh month. Round 2 funds will go towards filling gaps in management teams, prototype to product product development, product marketing, contract manufacturing costs, and product marketing. Sunapto believes Round 2 investors will achieve a respectable return annually over three year period.
Sunapto, a company that provides home healthcare technology, is committed to improving people’s lives and bringing health care home. Sunapto provides home medical systems. These systems are technology-based and provide safety, convenience, and continuous partnership with healthcare providers. Sunapto plans to make a solid, but aggressive profit. This will ensure that the company is financially stable over the long term and provide investors and owners with compensation for their risk and money. They want to expand the company and establish their brand as a leader and innovator in home-healthcare devices. They plan on financing continued growth via a combination cash flow and equity investment. Sunapto will continue product development once the marketing platform is in place. 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.
2 keys to success
Sunapto is a company that believes in success.
- Product Quality – A reliable, safe and easy-to-use product that features a well-engineered design, high quality workmanship, simple programming, precise dispensing, and uncomplicated operation.
- Marketing. The success of Sunapto is dependent on the marketing venue. The MedCabinet is a new product and consumers must be educated to gain market penetration in a market comprised of people that often have a harder time accepting new technology.
- Partnerships: Sunapto is a management/marketing/technology company, not a manufacturing company. Partners will be required to produce and deliver product. It will be vital to establish and maintain partnerships.
- Philosophy Sunapto’s goal is to make a higher return than the average for its business partner. They will use a balanced approach to guiding the company in order to reach this goal. Sunapto will not drive blindly from a financial perspective. Instead they will consider four perspectives: Financial (Customer), Internal Process (Learning & Growth), and Financial (Financial).
- In Year 3, we expect to see a rise in sales of more than 24,000 MedCabinet devices.
- In Year 3, 7 percent of units had subscribed for monitoring and notification services.