Medilink Global
MediLink-Global raises £2.1 million in AIM listing
MediLink Global UK Ltd said it has raised £2.1 million before expenses in a placing and has successfully listed on the Alternative Investment Market, valued at £18.6 million on admission.
MediLink-Global UK is an electronic healthcard network service provider. The Medilink System was created in late 2002 in Kuala Lumpur, Malaysia. It assists insurance and other companies and third party administrators in managing healthcare data and administrating medical claims.
The Medilink System provides members with an electronic swipe card which, on presentation, allows the healthcare service providers to electronically assess whether the member is eligible for insurance cover relevant to their condition.
The Medilink System is now well established in the Malaysian healthcare industry. The group has successfully secured two major accounts with its principal clients. The company has now installed the system through a network of more than 100 hospitals and 2,000 clinics. To date the company has issued over 1.8 million cards to Malaysian members.
The company placed 11,666,666 ordinary shares at 18 pence each. The money raised in the placing will be used to provide working capital to fund the expansion of the healthcare network, initially across China but also into other new territories.
In 2006 the group secured its first contract in China with Generali China Life Insurance Co Ltd. To date, MediLink has established a network of approximately 100 healthcare providers across ten key Chinese cities and more than 33,000 cards have been issued to Chinese members.
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