MSCM partners MMA for medical e-commerce

From left are MSCM Holdings Berhad Executive Jeff Chong, Executive Chairman of MSCM , MMA President Dr Ganabaskaran and MMA General Secretary and Chairman of Koperasi Persatuan Perubatan Malaysia Bhd ( KOOP MMA) Dr Thirunavukarasu Rajoo at the signing ceremony on the new partnership and logistics services provision at MMA building in Kuala Lumpur - NORAFIFI EHSAN / The Star

KUALA LUMPUR: MSCM Holdings Bhd has made its maiden foray into the healthcare industry following its partnership with the Malaysian Medical Association (MMA) to offer e-commerce services and last-mile delivery for medicines and medical supplies.

MSCM’s subsidiary, HS Bio Supplies Sdn Bhd (HSBS) has entered into a strategic partnership with MMA’s investment vehicle, Kooperasi Persatuan Perubatan Malaysia (KOOP MMA), to provide third-party and fourth party logistics for eMedAsia.

eMedAsia is a digital platform started by KOOP MMA to enable private clinics to procure medicine, provide telemedicine services and access other healthcare-related services.

As of May 2020, eMedAsia has onboarded almost 2,000 registered private clinics across the country, out of the total 6,000 private clinics.

It also has a business-to-consumer business model, whereby individuals will be able to consult their physicians online and get the prescription medicine delivered to their homes.

KOOP MMA holds the biggest stake of 48% in eMedAsia, followed by Open Dynamics Sdn Bhd (32%) and HSBS (20%).

Open Dynamics is the technology provider for the online marketplace.

Speaking during the signing ceremony yesterday, MSCM executive director Jeff Chong said member clinics of eMedAsia will enjoy lower cost of inventory investment, better rates for bulk purchase and friendly credit payment terms from suppliers.

“This new venture and our entry into glove manufacturing that we announced on Tuesday will move MSCM forward as an integrated healthcare provider that harnesses the power of technology to thrive in the new economy, ” he said.

Meanwhile, MMA honorary secretary general and KOOP MMA chairman Dr. Thirunavukarasu Rajoo said permitted member clinics can conduct disease and virus testing and later instruct HSBS on the eMedAsia platform to handle and deliver test samples to designated medical labs.

When asked about the projected revenue from the eMedAsia platform, Thirunavukarasu said that a monthly turnover of at least RM1mil is expected from the first quarter of 2021 onwards.

“We are looking at a very conservative figure starting from next year.

“For the subsequent year, we are looking at at least a growth rate of 30%. We are looking at capitalising at least 30% of the market over the next five years, ” he said.

Thirunavukarasu added that eMedAsia expects to have at least 4,000 clinics on board the system by end-2021, up from the current 2,000 clinics.

During the signing ceremony, eMedAsia also signed a separate partnership with GeneFlux Bioscience Sdn Bhd.

This will allow member clinics to access GeneFlux’s RT-PCR Covid-19 lab testing services as well as other lab testing services via eMedAsia’s digital platform.