TECHNOLOGY company Sedania Innovator Bhd is bullish on its growth prospect next year as it explores new business opportunities and strengthens its existing portfolios actively in 2021.
The increased adoption of technology in healthcare services has put the group in a favourable position to leverage the changing consumption patterns in the industry.
Its Founder and Managing Director Datuk Azrin Mohd Noor said the prospects for health technology (health tech) in Malaysia are looking up, offering huge potential and space for growth in the healthcare sector.
“As for the Malaysian health tech landscape, this year alone, we are seeing health tech startups mushrooming over a short period of eight months since the Movement Control Order (MCO).
“We expect the proposed acquisition and our venture towards health tech to contribute strongly in 2021,” he told The Malaysian Reserve in an email interview recently.
The group had in early November, proposed to buy a 51 per cent stake in Offspring Inc Sdn Bhd from Sedania Corp Sdn Bhd for RM15.12 million cash as part of a diversification into consumer products specialising in healthcare, personal care, household, and baby and childcare.
The proposed acquisition comes with a profit guarantee of RM3.8 million for the financial year 2020 (FY20) and FY21, which will help improve the group’s consolidated profit.
Azrin said the move provides an opportunity for the company to venture into health tech and diversify its earnings base by providing an additional income stream.
“Two potential products that we are looking at are digital health services and digital health passports. We hope this new segment can contribute significantly to the company’s profits.
“On the community front, the strategic collaboration with Offspring on the development of digital healthcare tech solutions is meant to provide accessible health technologies to the masses,” he added.
Moving forward, Sedania Innovator will continue to enable and strengthen its financial technology (fintech) business as its beech head, concurrently, maintaining a steady pace for the other business verticals including green tech, telco tech, Internet of Things and eSports.