KUALA LUMPUR (Jan 23): Medical beds supplier LKL International is buying a fully automated laser tube cutting machine for €830,000 (RM3.96 million) as part of its efforts to expand its business in the healthcare industry.

In a filing with Bursa Malaysia today, LKL said it is buying the TruLaser Tube 5000 Fiber machine from the Germany-based Trumpf Group through the latter's wholly-owned subsidiary Trumpf Malaysia Sdn Bhd.

LKL managing director Lim Kon Lian said the local medical device market was estimated to be worth US$1.7 billion (RM7.54 billion) in 2015, and this represents 25% of the total healthcare expenditure in Malaysia.

"Early this year, the magazine International Living reported that Malaysia is ranked number one in the world for best healthcare.

"The Penang government is also looking at securing a RM1 billion investment to improve the current healthcare industry.

"Looking at these facts, we anticipate more opportunities to expand our business while catering to the higher volume demands from our clients in the future," Lim said.

LKL, which made its debut on Bursa's ACE Market in May last year, saw its share price rise 4.26% year-to-date to 25 sen, giving it a market capitalisation of RM107.02 million.