MediLink-Global UK Ltd has acquired its GP clinics terminal network in Malaysia and signed two third party administrator agreements for the Chinese market.
MediLink has paid £226,000 for the 1,963 electronic data capture terminals in GP clinics in Malaysia. This will help MediLink to cut its operating costs.
MediLink has been paying guaranteed annual minimum rentals of £170,000. Allowing for depreciation the purchase of the terminals should cut operating costs by £95,000 a year.
Acquiring terminals directly from the manufacturer will help to cut costs. MediLInk is buying terminals for Malaysia, Singapore and Thailand.
The two new contracts are with PICC Health Insurance, which is the first Chinese professional health insurance company approved by the Chinese authorities, and Gibraltar-based LAMP Insurance Company Limited. The PICC contract lasts for three years from November 2008 and it has an automatic renewal clause for a further three years. There is no reported time frame for the LAMP contract.
At 16p a share, MediLink is valued at £16.5m.
MediLink raised £2.1m before expenses at 18p a share on 18 November 2008 and that valued the company at £18.6m.
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