LKL International Bhd (LKL International) has signed a Memorandum of Understanding with Serv Medical Pte Ltd. (Serv Medical), to open up the digital healthcare market in Malaysia with Serv Medical's various product suites. LKL International is already an established stalwart in the medical equipment, medical beds business and medical consumables in Malaysia, with a significant footprint as well in several other countries around the globe. The recent 2023 budget tabled by the Malaysian government has a significant bias towards digitisation and modernisation of traditional industries, including healthcare.

The rampant issues surrounding the inefficiencies of public and even private healthcare, has been information flow of patient history, along with archival modes that are outdated. Processing times, diagnostic function, dispensary duties and telehealth are all aspects that will be significantly improved with a coordinated healthcare digitisation programme. Serv Medical has already established a foothold in Singapore and China, using cloud services, connectivity and algorithmic processes to fastrack diagnostics, patient information flow, insurance claims and pharmaceutical dispensaries.

LKL International will seek to mobilise a new task force to pursue technology transfer, and to design a bespoke solution for Malaysian public and private hospitals, for gradual adoption. It is also worth noting that in the recent budget, the allocation for the Ministry of Health is RM36.3 billion, which is the second highest allocation. Serv Medical's presence in China and Bangladesh servicing 111 top ranked hospital as the leading digital healthcare service provider is a valued partner in LKL's directional shift of augmenting its traditional business with more modern offerings, in an environment where rising healthcare costs are impact margins.