Alliance Healthcare partners Inova Care to explore opportunities in region
ALLIANCE Healthcare's wholly-owned subsidiary Alliance MediNet is collaborating with Inova Care to explore healthcare benefit administration opportunities in South-east Asia, it said in a bourse filing on Thursday.
Alliance MediNet will use Inova Care's network for medical and dental opportunities to complement its services in regional markets including Singapore, while Inova will leverage Alliance MediNet's network for medical administration opportunities in Singapore.
Inova Care provides managed care and third-party administration services for insurance companies and corporate clients. The firm, which has a network of 1,000 hospitals and 5,000 clinics, has a presence in 12 countries across North America, Europe and Asia.
The collaboration agreement is for three years from Jan 1, 2020, and will be automatically renewed for an additional year.
"We will tap on Inova Care’s extensive network to expand our cashless managed healthcare service coverage for our clients in the region," said Alliance Healthcare's executive chairman and chief executive officer, Barry Thng Lip Mong.
"As Inova Care’s exclusive partner, we look forward to supporting their growth in Singapore while expanding our clientele base locally," Dr Thng added. Shares of Catalist-listed Alliance Healthcare closed unchanged at S$0.175 on Thursday before the announcement.