A receiver has been appointed to Pharmapod Ltd at the behest of the Canadian Pharmacists Association.

The CPhA invested in the firm in 2018 after the Irish company won a tender to implement its medication error reporting system across c.4,300 pharmacies in Ontario, representing 45% of Canada’s pharmacies.

Founded in 2010 by former pharmacy regulator Leonora O’Brien (pictured), Pharmapod developed cloud-based software that enables pharmacists to record and report adverse drug effects to their peers.

O’Brien was a finalist in the Emerging category of the 2020 EY Entrepreneur of the Year awards.

Pharmapod Ltd’s 2019 accounts disclosed a net loss for the year of €1m, bringing accumulated losses since inception to €4.8m. The company had 27 people employed through 2019, and negative net worth at year end was €3.3m.

In Association with

The 2019 accounts filing, signed off in October 2020, noted that due to Covid “demand and supply of our services remains as expected. However, the consequential decrease in demand is uncertain at this time”.

The filing also noted that post financial year end the company had secured “significant investment which further supports the directors’ conclusion on preparing the accounts on a going concern basis”.

Tom O’Brien of Mazars was appointed receiver of Phamapod Ltd on 13 October 2021 on foot of a debenture between the company and the Canadian Pharmacists Association.