FOCUS (0116) FOCUS DYNAMICS GROUP BHD acquires 30% stake in LKL (0182) LKL INTERNATIONAL BHD for RM37.5 mil
KUALA LUMPUR (March 19): Focus Dynamics Group Bhd has acquired a 30% stake in LKL International Bhd for RM37.5 million to accelerate its strategic shift to expand its list of medical-related products via LKL's extensive supplier network.
In a statement today, the company said the acquisition was in line with its recent move to set up its medical arm.
“As part of its development plan for its medical platform recently announced, Focus Dynamics will aim to emulate Singapore's International Patients Service Center (IPSC) that acts as online medical concierges, providing information and assistance for international patients linking with local healthcare providers which will be supported by LKL,” it said.
It said the company has identified several locations and is exploring various partnerships to create a medical and wellness hub, which will use its various networks of consumable supply chains in food, medical supplies via its stake in LKL, and technology transfer.
Executive director Benson Tay Ben Seng said the company, which is a lifestyle and technology-based conglomerate with exposure in food and beverage, property and wellness/nutritional food, has a strategic plan to embrace medical tourism as part of its overall portfolio.
Annually, he said millions of patients travel from countries lacking healthcare infrastructure or less advanced in a particular area of medical care to countries that provide highly-specialised medical care.
“Prior to the Covid-19 pandemic, the World Health Organisation tracked the global medical tourism market to be approximately US$37 billion (US$1=RM4.12) in 2019, with Singapore as the number two ranked destination with 500,000 visitors in 2019,” he said.
LKL International is a company principally involved in healthcare and healthcare equipment services, medical equipment, selected medical consumables and supplies that are widely utilised by hospitals, medical centres, private clinics as well as specialist centres, mainly in Malaysia.
http://www.theedgemarkets.com/article/focus-dynamics-acquires-30-stake-lkl-rm375-mil
