N2W Corp earmarks RM20m to develop its LifeMed app

by SULHI KHALID/ pic by MUHD AMIN NAHARUL

N2W Corp Sdn Bhd, a wholly owned unit by Johor Corp (JCorp), will spend RM20 million over the next three years to develop a healthcare mobile application known as LifeMed in a joint venture with UK-based digital healthcare service provider, SmartMed Global Ltd.

JCorp president and CEO Datuk Kamaruzzaman Abu Kassim said the LifeMed solution is a concept of remote health diagnostics and monitoring system that enables patients to better manage their ailments, and clinicians to better monitor their patients’ conditions.

“This initiative aims to add value to all healthcare providers — with the ability to monitor their patients round-the-clock.

“With the technology that the LifeMed solution offers, it also helps engage and empower patients in monitoring and managing their own conditions, while keeping them closely engaged with the doctors for support if needed,” Kamaruzzaman said.

Through the LifeMed solution, certified medical doctors can provide a summary of health assessment and recommendations directly to the patients’ smartphone or via a web browser.

This helps doctors prioritise and make timely interventions, provide advice or request to see patients for further investigations, if needed.

N2W Corp CEO Rizatuddin Ramli highlighted that the company will leverage on KPJ Healthcare Bhd’s domestic and international footprints to expand the LifeMed healthcare services.

“JCorp through its healthcare arm, KPJ Healthcare, has presence in Bangladesh, Indonesia and Australia. Hence, these are the countries that we will prioritise.

“We are not discounting other neighbouring countries because we see LifeMed medical solution as universally applicable,” he said to reporters yesterday at the launch of strategic partnership with SmartMed Global in Cyberjaya.

Separately, commenting on the proposed listing timeline of JCorp’s food and beverage (F&B) arm, QSR Brands (M) Holdings Bhd, Kamaruzzaman declined to reveal a timeline for the listing, but said discussions are still ongoing.

“We will be sharing with you the latest developments, but as of now, what has been announced before remains the same,” he said.

In April, QSR Brands postponed its initial public offering plan after key potential investors deemed its valuation unpalatably high.

The Johor state’s investment arm holds a 51% stake in QSR Brands, while the Employees Provident Fund has a 25% stake and private equity firm CVC Capital Partners holds the remaining 24%.

As of last year, JCorp has a net asset of RM22.89 billion and made a revenue of RM5.61 billion.

JCorp, through its group of companies, has interests in businesses like palm oil via Kulim (M) Bhd, healthcare via KPJ Healthcare and F&B services via QSR Brands.