business

Hong Seng unit inks agreement with Mediven Innovation to expand in the healthcare sector

KUALA LUMPUR: Hong Seng Consolidated Bhd's healthcare arm HS Bio Sdn Bhd (HS Bio) has signed a collaboration agreement with Mediven Innovation Ventures Sdn Bhd (MIV) to expand its respective product and services in the healthcare sector.

MIV is involved in the healthcare sector and has approvals, licences, accreditations, and manufacturing facilities to manufacture medical devices.

Hong Seng executive director Christopher Chan said the collaboration with MIV represents a new opportunity for HS Bio to expand into another important component in healthcare which is the manufacturing of medical devices.

Chan said the company finds MIV's proven quality in internationally-recognised assessments, and its success in executing projects and exporting its products will certainly lend the company a significant hand in bidding for new projects and gaining exposure in overseas markets.

"With this, HS Bio will also expand its range of capabilities to become the most comprehensive player in the Malaysian private healthcare sector with its end-to-end medical supply chain management solutions," he said.

The agreement will create a mutually beneficial relationship for both parties, and as such, they are desirous of collaborating and cooperating to leverage their respective strengths.

"Moving forward, HS Bio and MIV will jointly explore opportunities and markets for their respective products.

The companies will also jointly pursue tenders and bids for projects by providing a comprehensive range of solutions.

MIV operations director Lim Li Sze said the partnership would further expand the company's reach and range of offerings in the healthcare sector.

Lim said MIV believes that by combining its strengths as a leading molecular diagnostics provider in Malaysia with HS Bio's wide-reaching healthcare supply chain solutions, both parties will be able to improve health and prevent infectious diseases significantly.

"This is aligned with MIV's vision to deliver quality medical diagnostics faster and better, locally and globally," she said.

HS Bio and its healthcare subsidiaries have expanded its healthcare business from third-party and fourth-party logistics services to the entire end-to-end healthcare supply chain.

HS Bio is also actively involved in managing an end-to-end supply chain of Covid-19 testing processes known as HealthChain.

HealthChain encompasses everything from the front-facing and back-end processes, physical logistics, digital healthcare platform, laboratory facilities, research and development (R&D) services, and the provision of medical & healthcare supplies.

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