More digital healthcare opportunities for UEM Edgenta

By AZALEA AZUAR / Pic By MUHD AMIN NAHARUL

UEM Edgenta’s new digital initiative “Edgenta NXT” was viewed favourably by analyst as this new venture expected to contribute positively to the group. 

According to Hong Leong Investment Bank (HLIB) analyst Gan Huan, Edgenta NXT would bring the company forward to become a technology-enabled solutions company with a focus on healthcare. 

“We believe the cloud, marketplace and procure platforms are Edgenta’s attempt at building a digital ecosystem that offers businesses a one-stop solution while simultaneously adding value to their own operations by leveraging the solutions in Edgenta NXT marketplace,” said Gan. 

As these ventures are still in their nascent stage, HLIB kept its forecasts unchanged for the time being at a target price of RM2.40 with a ‘Buy’ call. 

Edgenta outlined a number of digital initiatives by the group, which included QuickMed, Edgenta NXT Cloud, Edgenta NXT Marketplace and Edgenta NXT Procure. 

QuickMed is a B2B2C platform launched by Edgenta to help healthcare providers to digitise their operations and connect to the Internet. 

QuickMed’s digital solutions include storage of data on cloud, automation of billing and more. 

In the future, HLIB expects QuickMed’s offerings to include telehealth services, online referrals of medical professionals, delivery of medicines and more. 

“Note that Edgenta already providing healthcare support services to many government hospitals so we reckon it is only a matter of time before government hospitals either adopt the QuickMed platform and/or begin using the platform for patients to book appointments, which would then result in patients being on boarded onto the platform,” said Gan.

He added that QuickMed will build a sizable user base which would make it an attractive proposition for large clinic and hospital chains. 

Edgenta’s very own cloud platform which will be used to store data from QuickMed and Edgenta’s existing infrastructure, facilities and healthcare support services operations. Edgenta NXT Marketplace is a platform that houses various solutions from Edgenta’s partners so that they can collaborate with 

Edgenta and/or with each other. “For example, a start-up that has developed medical imaging artificial intelligence can make this solution available on Edgenta NXT Marketplace to be purchased by healthcare providers who wish to use the software.

“Alternatively, Edgenta may decide to pay the start-up for the rights to sell it a bundle along with QuickMed,” said Gan. 

Meanwhile, Edgenta NXT Procure is a platform designed to allow users to find, secure quotes and procure quickly and efficiently. 

“This will not only allow suppliers who list on the platform to boost transaction volumes but also buyers such as small and medium enterprises who may not have the scale to procure supplies at competitive rates,” said Gan.