MEMORANDUM OF AGREEMENT BETWEEN FARMASIA SDN BHD (DR. WOUND™) AND NUCLEUS DYNAMICS PTE. LTD. (NDKARE™) FOR HEALTHCARE INFORMATICS
Kuala Lumpur, 3 April 2018
A Memorandum of Agreement (MoA) was inked between Farmasia Sdn Bhd with Nucleus Dynamics Pte Ltd (NDKare™) earlier today. Farmasia Sdn Bhd is a Malaysian Technology Development Corporation Business Startup Fund (BSF) recipient.
The MoA serves as a platform for a paradigm shift in the healthcare industry where a medical device company and an advanced technology company combine forces to bring value to enhance patient care, improve healthcare outcome and encourage collaboration among various disciplines within healthcare community.
Both Farmasia and Nucleus Dynamics will jointly develop and commercialise innovative digital solutions for wound care practitioners including comprehensive clinical decision support tools that will significantly simplify and standardize wound assessment and treatment. This will bring better healthcare outcome and experience to patients and improve productivity by leveraging on new technology.
NDKare™ is a smart mobile based Point-of-Care wound management solution that uses advance image processing intelligent technology to overcome challenges in the wound care industry, enables hassle-free wound documentation in seconds as easy as taking a photo and connecting patients, healthcare providers and medical supplies in one sharing platform. With NDKare™, the healthcare industry can enjoy the increase in productivity and accuracy, improve health outcome, reduce care cost, enhanced patient experience and secure sharing between disciplines. NDKare™ consists of NDKare™ App, NDKare™ Online Dashboard, NDKare™ Wound Report and NDKare™ Wound Analytics which can be used in any clinical setting that manages wounds.
Earlier during the event, Dato’ Norhalim Yunus, Chief Executive Officer MTDC mentioned that the collaboration between the two countries will include potential technology transfer and business collaboration. Farmasia, MTDC’s recipient company has expanded their foray into the global market with Dr. Wound and Atroxene Flex products.
Puan Zohrah Razak, Director of Farmasia Sdn Bhd said that the partnership is a paradigm shift for the industry and it is socially impactful as it combine their expertise in wound care treatment and technological innovation to improve healthcare outcome in resource-challenged medical industry. This is also their commitment to better serve their customers and make meaningful impact on patients’s life in Malaysia.
“Artificial Intelligence and connected medical technologies have transformed how healthcare providers diagnose and treat patients. Farmasia is a forward looking company that is committed to enhance patients experience and improve healthcare outcome at the same time, remain competitive in delivering value for money, quality products and effective clinical outcomes for its customers. We are excited about this partnership,” said Jasper Tan, Chief Executive Officer of Nucleus Dynamics.
“A study was done involving 61 patients (153 wound images) using the NDKareTM apps showed an accurate documentation of wound improvement in terms of size and other important parameters. In addition, after a period of time, we projected to save more than RM100,000 by reducing the time spent for documentations. This collaboration between an advanced wound healing treatment coupled with advanced digital imaginary is a great breakthrough. As a society, we support any advancement in the management of wounds,” said Prof. Dr. Harikrishna K. R. Nair, The President of Malaysian Society of Wound Care Professionals.
MTDC is a wholly-owned subsidiary of Khazanah Nasional Berhad and has been the key player in commercialisation and management of government funding since the 7th Malaysia Plan.
The company was set-up in 1992 to promote the adoption of technologies by local companies via commercialisation of local R&D or acquisition of foreign technologies. Since then, MTDC has been a key player in commercialisation and management of Government funds. Currently, MTDC manages six funds specifically the Commercialisation of R&D Fund (CRDF), Technology Acquisition Fund (TAF), Halal Fund, Business Start-Up Fund (BSF), Business Growth Fund (BGF) and Business Expansion Fund (BEF).
Besides fund management, MTDC also provides an integrated support services for technopreneurs which includes advisory services such as mentoring, soft-landing, branding, fund raising, international collaboration and networking. MTDC’s commercialisation ecosystem has provided funding and assistance to over 500 technology-based companies that are involved in a wide range of activities ranging from the agricultural sector to ICT.
In the 9th Malaysia Plan (9MP) and 10th Malaysia Plan (10MP) alone, companies that were recipients of MTDC’s Commercialisation of Research and Development Fund (CRDF) and Technology Acquisition Fund (TAF) generated a total of RM1.974 billion in sales and contributed towards the creation of 5,261 new jobs and a total of 465 Intellectual Property Rights were filed.
ABOUT FARMASIA SDN BHD
Established in May 2007, Farmasia Sdn Bhd is a major distributor and manufacturer of medical devices in Malaysia and in neighbouring countries. Their products vary in category and applications. Their main customers are made up of private and government hospitals including clinics and other healthcare providers. Malaysian Technology Development Corporation Sdn Bhd Ground Floor, Menara Yayasan Tun Razak Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: +603.2172.6000 Fax: +603.2163.7570 Website: www.mtdc.com.my
FARMASIA Sdn Bhd is a GDPMD Certified company, and is registered with the Malaysian Ministry of Finance, and with Bumiputera status. Recently, Farmasia Sdn Bhd has obtained their ISO 13485:2016 accreditation and now in the final stage of obtaining Good Manufacturing Practice (GMP) certification. Recent developments has found Farmasia being awarded with the BSF Fund, which has made Farmasia a part of Malaysian Technology Development Corporation eco-system.
ABOUT NUCLEUS DYNAMICS PTE LTD
Nucleus Dynamics Pte Ltd (ND) is a Singapore company funded by the National Research Foundation, a department of the Singapore Prime Minister’s Office. ND is a developer of a cutting edge digital wound management solution called NDKare™. NDKare™ is a Point-of Care solution that is FDA and CE mark registered. ND’s image processing and data analytics solutions allows clinicians to intuitively capture wound photos, measure, assess and document wounds at point-of-care.
ABOUT PROF. DR. HARIKRISHNA K. R. NAIR
Prof. Dr. Harikrishna K.R. Nair is the president of Malaysian Society of Wound Care Professionals (MSWCP) which was formed with a theme of ‘Wound healing with passion’. MSWCP has been very supportive of the advancement of wound care in terms of trainings, workshops, and other modes of wound treatment and management. The society has been organizing various wound related events including International Wound Care conferences. This year, MSWCP will be organizing a Global Wound Conference 2018 in Kuala Lumpur.
For enquiries please contact MTDC Corporate Communications department:
Alvirah Mohd Natt – 017 212 2802; firstname.lastname@example.org
Sharus Shavek Sharudin – 012-358 4181; email@example.com