KUALA LUMPUR (March 9): Hospital bed maker LKL International Bhd has entered into a deal to promote and sell Singapore-based Serv Medical Pte Ltd's medical products and services in Malaysia.

Serv Medical provides digital healthcare solutions to improve medical workflow efficiency and quality of care while allowing healthcare and industry professionals, as well as government, to seamlessly extract insights from data pools in Singapore.

LKL said it signed a Memorandum of Understanding with Serv Medical to complement the existing business of the group in the medical and healthcare sector and also expand its customers base in Malaysia.  

It noted that Serv Medical has already established a foothold in Singapore and China, using cloud services, connectivity and algorithmic processes to fastrack diagnostics, patient information flow, insurance claims and pharmaceutical dispensaries.

“Serv Medical's presence in China and Bangladesh servicing 111 top ranked hospital as the leading digital healthcare service provider is a valued partner in LKL's directional shift of augmenting its traditional business with more modern offerings, in an environment where rising healthcare costs are impact margins,” added LKL in a statement.

LKL’s share price closed down one sen or 3.57% at 27 sen, giving the group a market capitalisation of RM105 million.