KUALA LUMPUR (July 12): Technology group Omesti Bhd has teamed up with privately-held healthcare firm 360 Medic Holdings Sdn Bhd (360MH) to set up and operate diagnostic and screening centres in Malaysia.

Omesti said the joint venture (JV) is consistent with its objective of seeking various strategic alliances and JVs for synergistic benefits and the deal will further strengthen its presence in the healthcare industry.

In a Bursa Malaysia filing on Tuesday (July 12), Omesti said its wholly-owned subsidiary Omesti Holdings Bhd has entered into a JV and shareholders’ agreement with 360MH to form a JV company called Aurora 360 Sdn Bhd to provide healthcare services such as diagnostics and screening.

Under the deal, Omesti will hold a 60% stake in Aurora 360 and 360MH the remaining 40%.

Omesti said it will fund the subscription price of RM599,999 through internal funds.

"The JV is expected to contribute positively to the Omesti Group’s consolidated earnings and earnings per share in the future, when the JV company records profit after tax," it added.

Barring any unforeseen circumstances, the JV shareholders’ agreement is expected to be completed by the third quarter of 2022.

Omesti shares closed 0.5 sen or 1.32% higher at 38.5 sen on Tuesday, bringing the company a market capitalisation of RM205.66 million.