Baroparm Selected for Scaleup TIPS... Accelerates Pharmacy AI Transition with 'Pharmacy AX'

Baroparm, an integrated pharmacy platform company, is set to accelerate the transition of pharmacy work nationwide to artificial intelligence (AI), supported by government funding. The company plans to establish the "Pharmacy AX" platform, which will leverage actual work data accumulated from pharmacies across Korea to support everything from pharmaceutical ordering to inventory management, dispensing, and ensuring patient medication safety.

On August 18, Baroparm announced that it had been selected for the "Scaleup TIPS" research and development (R&D) project led by the Ministry of SMEs and Startups. The selected project is titled "Pharmacy AX Establishment Project—Development of an Operation Automation and Patient Medication Safety Platform Based on Real-World Data from Pharmacies."

The R&D period is three years, from July 2026 to June 2029, with a total of KRW 2 billion in government funding allocated to the project. The project will be operated by Company K Partners.

Through this initiative, Baroparm aims to combine real-world data (RWD) collected at pharmacy sites nationwide with AI technology. The core objective is to develop technology that boosts the efficiency of routine pharmacy work such as pharmaceutical supply, ordering, and dispensing, while supporting pharmacists' professional judgment and daily tasks.

In particular, the company plans to expand the platform's scope to include functionalities that support patient medication safety. The vision is not just to automate pharmacy work but also to build a data-driven AX platform that simultaneously enhances pharmacists' work efficiency and patient medication safety by utilizing data generated in the field.

Baroparm's extensive pharmacy network and data form the foundation of this new business. The company has a membership base of approximately 24,000 pharmacies, representing more than 90% of pharmacies nationwide. Over time, it has consistently accumulated data generated from actual pharmacy operations, including pharmaceutical orders, inventory management, out-of-stock incidents, stock arrivals, and supply processes.

Another strength is the company’s existing infrastructure that connects pharmacies with pharmaceutical companies and wholesale distribution networks. This setup enables the development and validation of AI technologies using field-generated data, enhancing the likelihood of successful real-world adoption.

With its selection for the Scaleup TIPS program, Baroparm also plans to broaden its business scope. Previously, the company focused primarily on a platform for the integration of pharmaceutical orders, but now intends to expand into a data-driven platform supporting all aspects of pharmacy operations.

A Baroparm representative stated, "Being chosen for the Scaleup TIPS program is highly significant, as it recognizes the competitiveness of our nationwide pharmacy network, our real-world data, and our technology capabilities built atop these resources."

They added, "This project will serve as a stepping stone to transform Baroparm's existing pharmaceutical order integration platform into the 'Pharmacy AX' platform that supports the AI-driven transformation of overall pharmacy operations, as we further strengthen our R&D capabilities to contribute to more efficient pharmacy management and safer patient medication."

Ultimately, Baroparm is accelerating the "Pharmacy AX" initiative, leveraging the vast real-world data accumulated from pharmacies across the country, securing government R&D support, and taking a major step toward using AI to transform all aspects of pharmacy work beyond just pharmaceutical order platforms.

This content was produced with the assistance of AI translation services.