KUALA LUMPUR (Oct 12): ACE Market-listed UCrest Bhd has been appointed by US-based medical technology company Docsun Biomed Ltd as the exclusive distributor of digital health platform iMedic, integrated with non-vital contact technology, in the US market.
In a statement on Wednesday (Oct 12), the mobile health platform developer and operator said it has inked a distribution agreement with Docsun for the exclusive appointment, adding that Docsun has committed to contribute US$10 million (RM46 million) or more in revenue over a three-year period.
The company said this came after the pair agreed to cross-licence their technologies, enabling Docsun’s non-contact vital technology to be integrated with UCrest’s iMedic as an integrated product.
“The integrated product is the first health platform in the world that consists of [a] Smart Clinic Management System with robust digitalised Electronic Medical Records (EMR), Internet of Medical Things wireless medical devices, and non-contact vital signs software as medical devices,” it added.
According to UCrest, Docsun is a leading medical technology provider of non-contact, non-invasive, non-intrusive vital signs software medical devices.
UCrest chief executive officer Kah Yee Eg said that Docsun’s non-contact vitals technology will significantly improve the accessibility and convenience of iMedic, adding that patients’ health monitoring costs will be substantially reduced.
“We developed iMedic with the focus to empower patients to manage their own health, shifting some personal health responsibilities to the patients by having all kinds of medical devices at home connecting to the platform, accessing their EMR and online doctor consultations, turning home into a clinic,” he said.
Meanwhile, Docsun president Ted Huang labelled the iMedic-Docsun integrated product as a “perfect platform” for chronic disease management and simple acute diseases consultation and health monitoring.
“The Docsun non-contact technologies [are] based on very robust artificial technologies, and we will continue to further develop [them] to include measurements of many other vital signs and biomarkers,” he added.
Shares in UCrest ended half a sen or 7.69% higher at seven sen on Wednesday, giving it a market capitalisation of RM40.42 million.
Source: TheEdge - 13 Oct 2022
