Contract gains and trading update
July 06 2009 - 2:00AM
UK Regulatory
TIDMMEDI
RNS Number : 1400V
Medilink-Global UK Limited
06 July 2009
6 July 2009
MEDILINK-GLOBAL UK LIMITED
Trading Update - Contract gains
Medilink-Global UK Limited ("MediLink"), the electronic health card network
service provider, is pleased to announce the following contract gains with the
joint venture AVIVA-COFCO in China, Qualitas Medical Group and AXA-Affin in
Malaysia.
Background
MediLink has launched three healthcare related products all or in part of which
are included in the contract gains mentioned in this release. The products are
Emergency Medical Assistance Service Facilitation ("EMA"), Medical Second
Opinion ("MSO"), and Medical Tourism / Cross Border Care Facilitation. These
will be packaged as value-added services to its core Third Party Administrator
("TPA") services or as stand-alone products. The contract and strategic alliance
wins in this release are set to provide the Company with a platform to generate
future sales.
Contract gains
AVIVA-COFCO
MediLink's wholly owned subsidiary MediLink (Beijing) TPA Services Co. Ltd
("Medilink Beijing") has entered into a contract to provide Third Party
Administration ("TPA") services to AVIVA-COFCO Life Insurance Co. Ltd.
("AVIVA-COFCO"). AVIVA-COFCO is a joint venture between AVIVA, the world's
fifth-largest insurance provider and COFCO Limited, the largest oil and food
importer and exporter in China, and has operations in over 40 cities in China.
The contract will run for 3 years after which it is subject to automatic renewal
for a further 3 years. AVIVA-COFCO will promote MediLink's TPA services through
its agencies, brokers and banks.
MediLink Beijing is contracted to provide a comprehensive package of TPA
services using an Electronic Claims Clearing System, MediLink's bespoke Claim
Application System, and its exclusive Electronic Data Capture healthcare
provider network, with services that include cashless hospitalisation, direct
billing medical claim processing amongst other services to enhance efficiencies.
The contract also includes the provisioning of MediLink's MSO service which
enables members to seek a second opinion from any of the world leading Medical
Centres of Excellence around the world. MSO acts as a very cost effective and
convenient way for the insured to seek a second opinion.
Licensing of MediLink's Claims Technology to Qualitas Medical Group
MGA has also entered into a Technology License Agreement with Qualitas Medical
Group ("Qualitas"), the largest well-integrated network of primary care and
out-patient service provider in Malaysia. Under the agreement all Qualitas
Clinics will use MediLink's entire suite of web-based Claims Application System
to control utilisation, verify eligibility and process claims for employers'
funded Out-Patient Healthcare Plans which are managed by Qualitas. This
agreement allows Medilink to earn a transaction fee for clinic visitation and
opens up a significant market channel and revenue stream for the company.
Maiden strategic collaboration
MediLink's subsidiary, Medilink-Global Asia Pte Ltd (MGA) has signed its first
strategic collaboration agreement with a medical centre of excellence in
Malaysia, Sime Darby Medical Centre, to promote and facilitate Medical Tourism
and Cross-border healthcare services. This collaboration represents the first
step taken by the MGA in launching itself as a global facilitator of
cross-border care.
Service agreement with AXA-Affin Malaysia
MediLink's wholly owned subsidiary in Malaysia, Datalink Healthcard Network Sdn
Bhd, has secured its first EMA facilitation contract with AXA Affin General
Insurance Berhad ("AXA Affin"), one of the major insurers in Malaysia. EMA
services include a 24 hour medical help-line, cross border medical care
facilitation and arrangement, medical referral, counselling, monitoring,
evacuation, and repatriation.
Shia Kok Fat, CEO of MediLink, commented: "We are extremely pleased to have won
the contract with AVIVA. This is proof our expansion strategy in China is
working and this contract will greatly enhance MediLink's standing in China and
so help drive further growth. MSO is an important part of the fast growing cross
border medical industry of which MediLink is aiming to be a leader in helping
facilitate and in which we see great potential for growth. We feel our added
value initiatives will help grow the Group's revenue stream by enhancing our
core TPA services.
We now have 700 healthcare providers on our network which means we are well
placed to meet our forecast to grow from 164 to 1,000 by the end of 2009."
Enquiries
+------------------------------------------+------------------------------------------+
| MediLink-Global UK Limited | Broker |
+------------------------------------------+------------------------------------------+
| Shia Kok Fat, Chief Executive Officer | SVS Securities plc |
+------------------------------------------+------------------------------------------+
| Tel: 00 603 2296 3028 | Ian Callaway, Head of Corporate Broking |
+------------------------------------------+------------------------------------------+
| | Tel: 020 7382 2870 |
+------------------------------------------+------------------------------------------+
| Nominated Adviser | |
+------------------------------------------+------------------------------------------+
| Dowgate Capital Advisers Limited | Financial Public Relations |
+------------------------------------------+------------------------------------------+
| Liam Murray or Jo Turner | Walbrook PR Ltd |
+------------------------------------------+------------------------------------------+
| Tel: 020 7492 4777 | Ben Knowles |
+------------------------------------------+------------------------------------------+
| | Tel: 020 7933 8788 or Mob. 07900 346 978 |
+------------------------------------------+------------------------------------------+
| | ben.knowles@walbrookpr.com |
+------------------------------------------+------------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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