Quick take: New contract wins boost REDTone shares
Published on 03 Oct 2019. | Source: thestar.com.my
KUALA LUMPUR: Shares in REDTONE INTERNATIONAL BHD rose in early trade Thursday after the company’s subsidiary secured a RM130mil contract.
The counter rose 1.03%, or 0.5 sen to 49 sen with 1.1 million shares traded.
REDtone Mex Sdn Bhd has won a RM130mil contract to provide nationwide medical imaging, filmless radiology information system infrastructure and network connectivity to 20 of the largest hospitals in Sri Lanka, including the National Hospital in Colombo.
REDtone MEX is 56% owned by REDtone International, while the remaining 44% stake is held by REDtone MEX's chief executive officer Yee Kar Fong via his private investment vehicles — People Health Sdn Bhd and Dolphine Bay Ventures Ltd.
Under the contract, REDtone MEX will set up a teleradiology command centre in a secured datacenter with a telecommunications operator, enabling radiologists to remotely store, retrieve, view and analyse images.
Artificial intelligence (AI), a core component of the system, will facilitate analysis of critical diseases, while improving patient diagnosis and treatment.
REDtone Mex CEO Yee Kar Fong said the command centre and use of AI will drive efficiency and productivity gains by pooling together radiologists and medical specialists from various fields to promptly diagnose, improve treatment plans and prescribe treatments to patients speedily, especially in the rural areas.
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