KUALA LUMPUR (June 22): Bioalpha Holdings Bhd has formed a joint venture (JV) with Shanghai-listed Suzhou Medicalsystems Technology Co Ltd to supply health supplement products in the China market.

In a filing with Bursa Malaysia, Bioalpha said Suzhou Medicalsystems has agreed to invest 6 million renminbi (about RM3.9 million) into the JV for working capital.

Bioalpha said the JV will utilise its four key proprietary formulations to produce supplements that boost immunity, general well-being and anti-ageing.

“At a later stage, subject to the success of the JV partnership, Bioalpha will introduce more and more proprietary formulations to deliver further health enhancement products ranging from supplements that promote longevity to those that assist with menopausal symptoms,” it said.

The group said Suzhou Medicalsystems's distribution network of 600 hospitals across 32 provinces in China will provide Bioalpha's supplements an immediate turnkey customer base, potentially reaching out to the masses immediately.

“Bioalpha is extremely delighted that Suzhou Medicalsystems Technology Company has the confidence to invest in this JV with us to distribute our products,” said managing director William Hon.

“It speaks volumes to the confidence level that a company of this size and reputation is gearing up to take us into Greater China," he added.

Bioalpha closed unchanged at 16 sen, giving it a market capitalisation of RM220.49 million.