Alliance Healthcare Expands Regional Presence through Exclusive Partnership with Inova Care
● This strategic collaboration enables Alliance Healthcare to tap into Inova’s Southeast Asia network
● Alliance Healthcare to support Inova’s growth in Singapore as its exclusive provider of health network and administrative services
Singapore, 10 January 2020 – Alliance Healthcare Group Limited (SGX: MIJ), an integrated healthcare organisation that leverages on technology to provide a broad suite of healthcare services primarily in Singapore (“Alliance Healthcare”, and together with its subsidiaries, the “Company” or the “Group”), is pleased to announce that the Group has entered into a collaboration agreement with Inova Care Limited (“Inova”) to explore regional health and dental benefit administration opportunities.
The partnership is a strong strategic fit, leveraging the two leading companies’ respective strengths; Inova will be the exclusive provider of health and dental network and administrative services to complement Alliance Healthcare in markets, both inside and outside of Singapore, while Alliance Healthcare will be the exclusive provider of health network and administrative services to Inova in Singapore. The collaboration agreement is effective from 01 January 2020 for a period of three years and shall be automatically renewed for a further period of one year.
Inova Care is a leading managed care and third-party administration solutions provider for insurance companies and corporate clients with a presence in 12 countries including Asia, Europe Alliance Healthcare Group Limited (Company Registration Number: 200608233K) 2 and the United States. Inova has a network of 1,000 hospitals and 5,000 clinics and has managed more than 4 million claims since 2002, serving more than 1.7 million members in their network.
Executive Chairman and CEO of Alliance Healthcare, Dr Barry Thng Lip Mong (唐立茂) annotated, “Today’s announcement with Inova is another solid step in our journey to build on our regional presence. The collaboration with Inova marks an important milestone for Alliance Healthcare, as we tap on Inova’s extensive network of over 5,000 clinics in Southeast Asia to expand our cashless managed healthcare service coverage for our corporate clients in the region. As Inova’s exclusive partner for their network in Singapore, we look forward to supporting the growth of Inova in Singapore while expanding our clientele base locally.”
Founder and CEO of the Inova Group of Companies, John Le Boeuf said, “The strategic partnership with Alliance together with the launch of the CareForAll program represents a key milestone for Inova Care in Singapore. The partnership provides all customers with wider and extensive network coverage for cashless treatments at over 5,000 clinics in Southeast Asia. We want to deliver a comprehensive and geographically accessible network to clinics for our customers, and the partnership with Alliance allows both companies to enhance the customer journey and improve customer experience and satisfaction.”
About Alliance Healthcare Group Limited
Founded in 1994, Alliance Healthcare Group Limited and its subsidiaries (the "Group") is an integrated healthcare group that leverages the use of technology to provide a broad suite of healthcare services primarily in Singapore. The Group designs and provides enterprise-level healthcare solutions to meet the demands of organisations as well as individual patients for reliable and cost-effective healthcare services. The Group’s business comprises four key segments: managed healthcare solutions, GP clinic services, specialist care services and pharmaceutical services. For managed healthcare solutions, the Group has arrangements with 9 insurers and serves over 2,400 corporations through its self- owned clinics and panel of medical services providers within the Alliance Healthcare Network. The Group also operates 16 self-owned GP clinics under the "My Family Clinic" name, as well as 5 self- owned specialist clinics providing medical diagnosis and medical or surgical treatments of ENT, colorectal and orthopaedic conditions. In addition, the Group operates a pharmaceutical business engaged in the wholesale distribution of pharmaceutical products to hospitals, pharmacies and clinics in Singapore and overseas. https://www.alliancehealthcare.com.sg/
About Inova Solutions and Inova Care International:
Inova Solutions (www.inovasolutions.net) was established in 2002 and is the parent company of Inova Care International and Inova Digital Technologies. Inova Solutions specializes in developing strategic solutions that contribute to the value chain for health care providers, insurers and members worldwide. Inova Care (www.inovacare.com) was formed in 2002 to develop and implement integrated health and dental care management, technology and administration solutions for insurance companies and corporate clients. Inova Care’s corporate purpose is to export effective elements of the US managed care industry to help multinational insurance companies gain greater control over cost and quality outcomes. Alliance Healthcare Group Limited (Company Registration Number: 200608233K)
Issued for and on behalf of Alliance Healthcare Group Limited by GEM COMM