KUALA LUMPUR (April 7): Hong Seng Consolidated Bhd has entered into a collaboration agreement with a molecular diagnostics provider for the provisioning of healthcare products and services. 

Hong Seng said its wholly-owned subsidiary HS Bio Sdn Bhd is teaming up with Mediven Innovation Ventures Sdn Bhd to expand their respective coverage in the healthcare sector by leveraging on each other’s strengths, skills, expertise, network and capabilities.

“Pursuant to the collaboration, the parties will jointly explore opportunities and markets for their respective products and may jointly pursue tenders and bids for projects by providing a more comprehensive range of solutions,” Hong Seng said in a bourse filing on Thursday (April 7).

The announcement comes just a day after the group announced that eMedAsia Sdn Bhd, a 60%-owned subsidy of HS Bio, had signed a collaboration agreement with CLEA Technology Sdn Bhd to jointly provide virtual Covid-19 screening services.

HS Bio is in the business of providing integrated healthcare solutions that applies proven digital know-how and end-to-end supply chain management.

Hong Seng said Mediven is a local molecular diagnostics provider that also distributes other products and offers custom-tailored solutions for the development of molecular diagnostics and point of care tests.

Hong Seng’s share price finished one sen or 0.38% lower at RM2.60 on Thursday, bringing a market capitalisation of RM6.64 billion.