SHANGHAI, April 22 Golden Meditech Holdings Limited("Golden Meditech," or "the Group"; Stock Code: 801), China's leadingintegrated healthcare device and service enterprise, today announced theformation of a new joint venture company, GM-Medicare Management (China)Limited ("GM-Medicare"). Based in Shanghai, GM-Medicare is China's firstmedical insurance information management systems and medical insuranceback-office business process outsourcing (BPO) services provider in Shanghai.As a platform connecting the dots between insurance companies, hospitals andthe insured, GM-Medicare fills an important niche in the Chinese medicalmarket, where a growing number of expatriate professionals and overseastourists are demanding quality medical and healthcare services. At the sametime, GM-Medicare aims to facilitate the growth of medical tourism in China.
GM-Medicare is a joint venture between Golden Meditech and renowned UShealthcare management operators, SynerMed Inc. and EHS Medical Group. The newenterprise has registered capital of US$50 million. Golden Meditech has a 70%stake in GM-Medicare.
Commenting on the joint venture, Mr. Kam Yuen, Chairman of Golden Meditechand Chairman of GM-Medicare, said GM-Medicare has leveraged Golden Meditech'sbroad hospital network in China and the two US healthcare companies' extensiveexperience operating US Medicare program to bring out an automated IT systemand intelligent software platform for both local and international medicalinsurance companies, as well as partners.
GM-Medicare provides a reliable, customizable medical information serviceand high quality, professional outsourcing services that enable medicalinsurance companies to offer more innovative products and services whileminimizing their operational cost and risks. GM-Medicare equips hospitaloperators with the tools to provide quality, innovative services, facilitatingthe growth and development of the medical insurance sector.
Aligning itself with government medical reform, GM-Medicare will alsoproactively work towards complementing government initiatives to optimizemedical resource allocation, facilitate service innovation and research atdomestic hospitals, and provide hospital operators bill settlement guarantee.
Mr. Kam also commented that as an innovative and independent third-partyservice provider, the launch of GM-Medicare is in-line with global industrialpractice where an increasing number of insurance companies are deployingback-office BPO services to enhance operational efficiency and service quality.
China is expected to boast the largest number of domestic travelers andthe fourth largest number of outbound tourists in the world by 2015. Thesevisitors' strong demand for premium medical insurance will provide GM-Medicarewith exciting business opportunities. Foreign insurance companies alsorequire tremendous support and partnership from a sizable medical hospitalnetwork to provide patients with timely bill settlement and assurance ofmedical care.
Mr. Kam also gave emphasis to the fact that the municipal of Shanghai isaccelerating its infrastructure development as it prepares itself as a majorfinancial hub. In order to quality as such, the city would require a varietyof option in medical insurance that is on-par with international standards.GM-Medicare will continue to explore both domestic and overseas medicalinsurance coverage in innovative ways as it works with overseas insurers, toensure that both medical coverage and the delivery of proper care areavailable to foreigner nationals in China.
About the Group:
Golden Meditech Holdings Limited is China's leading integrated healthcaredevice and service operator, and the first medical device enterprise that waspublicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited(HKEX). Golden Meditech is a first-mover in China's medical devices, cordblood banking, having established dominant positions in these respective areasover the years, thanks to its strengths in innovation and market expertise, aswell as its ability in capturing emerging market opportunities. Going forward,the Group will continue its pursuit in becoming China's leading integratedmedical group both through organic growth and strategic expansion.For inquiry, please contact: Investor Relations Division Golden Meditech Holdings Limited 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong Tel: +852-3605-8138 Fax: +852-3605-8181 Email: [email protected]
SOURCE Golden Meditech Holdings Limited