PETALING JAYA (Nov 22): UCrest Bhd, a provider of cloud hospital and mobile health services, sees good prospects for the 2020 financial year (FY20).

Chairman Eg Kah Yee said the company is banking on growth mainly from the pharmaceutical and insurance sectors.

"The company has grown from doctor to patient service, expanded to the pharmaceutical sector, which is another huge sector as the industry players have more money than the patients, and we also have the insurance sector," he told reporters after the company's annual general meeting 2019 here, today.

He said UCrest’s cloud medical system, i-Medic, had been added with the digital pharma platform in August this year to further expand its offerings.

The technology allows the pharmaceutical companies to automate the Patient Adherence Programme (PAP), whereby the patients are automatically sent reminders to adhere to the instruction of their medication.

Since the launch, about 1,000 users had signed up for the platform, he said.

Eg said at present, one of the global pharmaceutical companies in Malaysia has adopted i-Medic with the digital pharma platform.

"We are working with this global company to deploy the platform in China, Singapore, India, and Taiwan.”

He said UCrest had also signed up third-party administration (TPA) with insurance companies for claim processing services a few months ago.

"So, now we are also selling our products or services to the insurance companies," he added.

Eg said the company will continue to invest in technology to develop new capabilities in its i-Medic, targeting the pharmaceutical and medical insurance applications.

UCrest recorded a net profit of RM6.84.million in the financial year ended May 31, 2019 (FY19) compared with RM14.85 million previously, while revenue stood at RM28.88 million against RM48.26 million in FY18.