Medilink-Global lifted by contract news, collaboration deal

Shares in Malaysia-based Medilink-Global UK Ltd (AIM: MEDI) were lifted after the electronic healthcard network service provider announced a number of contract wins and a strategic collaboration.

The stock was trading up 21 percent in midafternoon London trade.

MediLink (Beijing) TPA Services Co Ltd has entered into a contract to provide third party administration
(TPA) services to AVIVA-COFCO Life Insurance Co Ltd, a joint venture between insurer AVIVA and COFCO Ltd, the largest oil and food importer and exporter in China, with operations in more than 40 cities in China. The contract will run for 3 years after which it is subject to automatic renewal for a further 3 years.

Medilink-Global Asia Pte Ltd has entered into a technology license agreement with Malaysian primary care and out-patient service provider Qualitas Medical Group which will allow Qulitas to use MediLink's entire suite of web-based Claims Application Systems. 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.

Medilink-Global Asia has also 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.

Finally, MediLink's wholly owned subsidiary in Malaysia, Datalink Healthcard Network Sdn
Bhd, has secured its first Emergency Medical Assistance 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.

“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."

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