KUALA LUMPUR (Oct 6): Nova MSC Bhd plans to undertake a private placement exercise of 10% of its share base to raise up to RM23.81 million for its working capital as well as for its web-based platform Vesalius, which helps healthcare groups implement a centralised system across multiple hospitals, to develop a healthcare solution.
The group intends to issue up to 250.66 million shares to third party investors to be identified at a later stage, the group told Bursa Malaysia on Friday..
The proceeds to be raised are based on an indicative issue price at 9.5 sen per share. The actual issue price will be fixed and announced later.
Of the amount to be raised, it plans to set aside RM17.01 million for working capital, and use RM6 million for the development and enhancement of Vesalius’ healthcare solution — Next-Gen Healthcare Solution — over the next 15 months.
“Currently, the company is looking into developing and enhancing the software under the name Vesalius Application Suite by allowing a group of hospitals to establish a centralised operation in line with ensuring that all the patients’ records are shared within the group of hospitals. Vesalius Application Suite will also allow for easy integration into the system for newly built or acquired hospitals.
“Additionally, in order to improve the company’s revenue stream, the company plans to expand its digital transformation efforts through Next-Gen Healthcare Solution, to extend its reach to private general practitioners, insurance companies, as well as directly to employers and patients,” said Nova MSC.
The balance of the proceeds will be used for estimated expenses for the exercise, which is set to be completed by the first quarter of 2024.
Nova MSC provides ready-to-deploy, industry-focused application software and services for the government and healthcare sectors.
Last month, the group and Theta Edge Bhd inked a joint venture (JV) agreement to jointly provide e-government solutions and other information technology (IT) solutions, including system integration, outsourcing, consultancy and infrastructure system services. The JV company is to be owned 60% by Theta Edge and 40% by Nova MSC.
Shares of Nova MSC closed up half a sen or 4.76% to 11 sen on Friday, valuing it at RM125.22 million.
