18/11/2008 Exchange is delighted to welcome MediLink-Global UK Limited to AIM
18 November 2008
The London Stock Exchange is delighted to welcome MediLink-Global UK Limited to AIM.
MediLink-Global UK Ltd (AIM: MEDI) provides electronic healthcard network services to insurance and other companies to facilitate the administration of medical claims and healthcare data management. The company 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. Once the Health Service Provider has the patient’s details, all invoices and payments are then run electronically and directly between them and the patient’s insurer, speeding up and cutting the number of man hours required on the process.
The Medilink System is well established in the Malaysian healthcare industry where the Company has installed the Medilink System in over 100 hospitals and 2,000 clinics. To date the Company has issued over 1.8 million cards to Malaysian members. In 2006 the Group secured its first contract in China with Generali China Life Insurance Co. Ltd. To date, MidLink has established a network of approximately 100 Healthcare Providers across ten key Chinese cities and over 33,000 cards have been issued to Chinese members.
MediLink-Global UK Ltd has offices in Malaysia, China, Singapore, Thailand and Vietnam and plans to offer a Pan-Asian service.
The company announced the successful admission to trading on AIM on 18 November 2008. The company joined AIM at a mid price of 18p, valuing the company at £21m having raised £2.1m on admission.
Mr Shia Kok Fat, Chairman and CEO of MediLink-Global UK Ltd, said:
“We are very pleased with our successful admission to AIM. This will increase the public profile and reputation of the company and should lead to increased recognition and confidence from our growing customer base. The raising of funds through floating on AIM will be used to fund further expansion into the Chinese market where there remains substantial opportunities for market growth.”
Dowgate Capital Advisers Limited is acting as MediLink-Global UK Ltd’s Nominated Advisor and SVS Securities Plc as Broker. Mazars LLP is acting as its reporting accountants and Parkgreen Communications Ltd as Financial PR advisers.