Extended, an innovative Argentine startup in the pharmaceutical industry, has secured an additional investment of USD $7.5 million to expand its footprint in Mexico and Colombia. Backed by investors from across the region, Extendeal is disrupting the traditional pharmaceutical industry landscape, enabling pharmacies to freely choose their products in a market historically dominated by drugstores with strict control over prices and competition.
Extendeal’s proposition is more than just a digital platform; it represents a disruptive shift in the pharmaceutical sector. It provides pharmacists with an intelligent solution for managing their daily purchases, which are traditionally done manually, often twice daily, to different drugstores.
Extendeal’s mission is to become a key ally for pharmacies, regardless of their size, by offering a tool to compare prices from various suppliers in seconds. Guido Stefani, CEO of Extendeal, believes that technology plays a crucial role in reshaping the industry, leveling the playing field, and enhancing visibility in the supply and demand of pharmaceutical products.
Currently, Extendeal benefits over 2000 pharmacies across Latin America and has amassed a total investment of 12 million dollars to bolster its operations in Colombia and Mexico.
The story of Extendeal originates from the innovative vision of its founding team. Stefani, along with his partners, armed with extensive knowledge of the pharmaceutical sector, identified a key issue: the inefficient and manual management of daily pharmacy purchases. This challenge was the starting point for developing Extendeal. Stefani, with prior experience in procurement, personally faced these challenges and understood the need for greater systematization in this process.
In just six months, what started as an internal tool to optimize the management of their businesses transformed into an international-scale project. “At first, we were unaware of the potential of what we were developing,” comments Stefani.
Extendeal’s expansion began in Mexico, where it became the only B2B platform in Latin America focused on price intelligence for the pharmaceutical industry, bringing transparency and efficiency to the sector.
With a focus on innovation and transparency, Extendeal has generated significant excitement in the pharmaceutical field. As it continues to expand in Mexico and Colombia, it is poised to transform business in the pharmaceutical industry radically.