MediLink Global Ltd has acquired a third party administrator of services to clinics in Singapore for £230,000.
MediLink supplies healthcare cards to individuals on behalf of health insurance companies or employers, as well as providing back office services to insurance and commercial companies. The acquisition of Lifeinc Holdings Pte Ltd brings with it more than 160 clinics and hospitals and should be immediately earnings enhancing. MediLink is paying £138,000 in cash and the rest in shares at 18p each.
MediLInk has also won a third party administrator contract with AXA-Winterthur in China. This is a one year contract with annual automatic renewal.
MediLink has also won the first contract in Thailand. It will provide services to the Thai Insurance Public Company Ltd for two years plus annual renewals. MediLInk will install 200 electronic terminals to read its cards.
At 13.5p a share, up 1.5p on the day, MediLink is valued at £14m.
© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.