Medtech Global (ASX: MDG) provides technology solutions for healthcare administration and management. The company operates in Asia, Europe and North America.
Medtech Global (ASX: MDG) has secured a $400,000 funding facility from Cereus Holdings, a private New Zealand-based company, to fund telehealth equipment purchases and related working capital requirements associated with opportunities in the U.S. and Asia markets.
Cereus is an investor and management service provider that has executed around NZ$150 million in transactions to date. The company is a substantial shareholder in Medtech.
The funding facility, which can be drawn down at an interest rate of 10% per annum, is available for one year and is due for review on 30 September 2013.
Medtech continues to establish a beachhead in the U.S. where it sees the greatest opportunities for health technology solutions.
Earlier this year the company formed Medtech Global USA to promote its health technology solutions in the U.S., particularly its VitelMed and ManageMyHealth products.
VitelMed is Medtech’s telehealth solution, while ManageMyHealth is a secure internet healthcare portal which allows healthcare providers to empower individuals to play an active role in managing their health and wellbeing.
During the 2012 financial year Medtech also launched successful pilots in Telehealth in Australia and India, and anticipates further pilots in the U.S. and New Zealand in the December quarter of 2012.
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