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MediLink-Global UK Ltd

  • BY: Andrew Hore |
  • POSTED: 23/11/2009 |

MediLink-Global UK Ltd says that Chinese revenues have been lower than expected so it will report a loss for 2009. 

MediLink supplies healthcare cards to individuals on behalf of health insurance companies or employers and can also provide outsourced back office work for companies as part of the service.

MediLink has signed third party administration contracts with eight Chinese insurance companies. However, they have not been attracting new policyholders as fast as had been hoped. That means that MediLink’s revenues have been lower than anticipated leading to a disappointing second half performance.

Net cash was £449,000 at the end of June 2009 but MediLink has already said that it intends to raise more money to help finance growth.

Allenby Capital has been appointed nominated adviser and broker – taking over from Dowgate and SVS respectively.

Shares in MediLink fell 1.5p to 11p each, compared with a flotation price of 18p a share one year ago.

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