Cork-based, MCAP-authorised since November 2021. Two co-founders, both Munster Technological University. Imports Bedrocan-grade product, makes the Panacea inhaler, runs OleoCare. One of a small set of HPRA-licensed suppliers. Captive demand. Very thin competitive field.
Verified at trumed.ai. truMED is a US-based bariatric care platform. The architecture is uncannily similar to Oleo's:
Implication for the pitch: Richard is not new to digital health ops. He is actively running the truMED dual-track playbook (provider + patient app) and has applied it to Oleo. Any pitch must respect his fluency. Our wedge is not "introducing AI to medtech ops". It is accelerating execution of a strategy he is already running, with AI-native automation and Ireland-specific regulatory glue.
Open question: is Panacea CE-marked Class IIa under MDR? Affects what can be advertised legally.
Distributed to Irish pharmacies, dispensed to MCAP-approved patients, government-reimbursed via HSE Reimbursement Scheme. The MCAP register lists ~4 products. Oleo holds slots in that small set.
Distribution is captive: any Irish pharmacy filling an MCAP prescription must source through licensed suppliers.
Via Shopify storefront. Less captive, more conventional eCommerce, but constrained by ASAI rules on prescription-aligned product advertising.
OleoCare is loss-leader. Free app. Monetises via stickiness with prescribers + adherence data + future expansion.
Throughput, not demand, is the constraint. Most agencies engaging Oleo would lead with marketing. The right pitch leads with operations.