SHANGHAI, April 22 /PRNewswire-Asia/ -- Golden Meditech Holdings Limited ("Golden Meditech," or "the Group"; Stock Code: 801), China's leading integrated healthcare device and service enterprise, today announced the formation of a new joint venture company, GM-Medicare Management (China) Limited ("GM-Medicare"). Based in Shanghai, GM-Medicare is China's first medical insurance information management systems and medical insurance back-office business process outsourcing (BPO) services provider in Shanghai. As a platform connecting the dots between insurance companies, hospitals and the insured, GM-Medicare fills an important niche in the Chinese medical market, where a growing number of expatriate professionals and overseas tourists are demanding quality medical and healthcare services. At the same time, GM-Medicare aims to facilitate the growth of medical tourism in China.
GM-Medicare is a joint venture between Golden Meditech and renowned US healthcare management operators, SynerMed Inc. and EHS Medical Group. The new enterprise 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 Meditech and Chairman of GM-Medicare, said GM-Medicare has leveraged Golden Meditech's broad hospital network in China and the two US healthcare companies' extensive experience operating US Medicare program to bring out an automated IT system and intelligent software platform for both local and international medical insurance companies, as well as partners.
GM-Medicare provides a reliable, customizable medical information service and high quality, professional outsourcing services that enable medical insurance companies to offer more innovative products and services while minimizing their operational cost and risks. GM-Medicare equips hospital operators with the tools to provide quality, innovative services, facilitating the growth and development of the medical insurance sector.
Aligning itself with government medical reform, GM-Medicare will also proactively work towards complementing government initiatives to optimize medical resource allocation, facilitate service innovation and research at domestic hospitals, and provide hospital operators bill settlement guarantee.
Mr. Kam also commented that as an innovative and independent third-party service provider, the launch of GM-Medicare is in-line with global industrial practice where an increasing number of insurance companies are deploying back-office BPO services to enhance operational efficiency and service quality.
China is expected to boast the largest number of domestic travelers and the fourth largest number of outbound tourists in the world by 2015. These visitors' strong demand for premium medical insurance will provide GM-Medicare with exciting business opportunities. Foreign insurance companies also require tremendous support and partnership from a sizable medical hospital network to provide patients with timely bill settlement and assurance of medical care.
Mr. Kam also gave emphasis to the fact that the municipal of Shanghai is accelerating its infrastructure development as it prepares itself as a major financial hub. In order to quality as such, the city would require a variety of option in medical insurance that is on-par with international standards. GM-Medicare will continue to explore both domestic and overseas medical insurance coverage in innovative ways as it works with overseas insurers, to ensure that both medical coverage and the delivery of proper care are available to foreigner nationals in China.
About the Group:
Golden Meditech Holdings Limited is China's leading integrated healthcare device and service operator, and the first medical device enterprise that was publicly 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, cord blood banking, having established dominant positions in these respective areas over the years, thanks to its strengths in innovation and market expertise, as well as its ability in capturing emerging market opportunities. Going forward, the Group will continue its pursuit in becoming China's leading integrated medical 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: ir@goldenmeditech.com
