Malaysia's HealthMetrics makes strategic investment into Indonesia's Across Asia Assist
By Digital News Asia October 3, 2022
- AAA Indonesia, a leading third-party administrator in Indonesia with regional presence
- Investment to spur corporate membership growth to over 2 mil members & policy holders
Healthcare technology company, HealthMetrics Sdn Bhd, announced last week a strategic investment in PT. AA International Indonesia, for an undisclosed sum. Founded in 2007, PT.AA International Indonesia, operates Across Asia Assist (AAA) Indonesia, a leading third-party administrator (TPA) and international medical assistance company with presence in Indonesia, Malaysia, Singapore, Hong Kong and Taiwan. AAA is also a core partner of the US based International Assistance Group (IAG), a worldwide network of assistance companies and services servicing over 118 million members globally.
Alvin Yuan, Chief Executive Officer of HealthMetrics which he launched in Dec 2015, said, “With this investment, we are now in an excellent position to live up to our vision of optimising healthcare costs for all, with our advanced technology solutions. In addition to AAA being a springboard to help expand HealthMetrics’ global reach and access thousands of healthcare partners, this transaction also marks our foray into the international medical assistance industry. I am confident our union with AAA, leveraging our respective expertise will greatly benefit both HealthMetrics’ and AAA’s clients and partners”.
With AAA on board, HealthMetrics’ existing corporate clients can seamlessly augment their employees’ healthcare benefits to include global cashless medical treatments and emergency assistance.
The investment is also expected to help strengthen and expand AAA’s existing medical and TPA business in the region by leveraging HealthMetrics’ cloud platform’s data to streamline and digitise its medical claims and issuance of letter of guarantees. Additionally, HealthMetrics’ data analytics, reporting, cost-containment and members’ mobile app is expected to add significant value to AAA’s insurance clientele, healthcare partners and policy holders.
Brandon Heng, Chief Executive Officer of PT. AA International Indonesia said, “HealthMetrics’ strong healthcare technology expertise and advanced capabilities will accelerate our ability to meet customer needs, enhancing their experience powered by HealthMetrics’ real-time cloud platform. In addition, HealthMetrics strong workplace culture and its diverse range of offerings will provide our employees with added career opportunities. We are excited to partner with HealthMetrics as it will help take AAA to the next level of growth”.
AAA Indonesia is the latest addition to the HealthMetrics’ group of companies, which include HealthMetrics’ cloud-based employee healthcare benefits platform; its digital pharmacy, Origin Pharmacy and Anzen Health (also known as IMG Sdn Bhd) which is an approved Managed Care Organisation under Malaysia’s Ministry of Health.
Early this year, HealthMetrics has also established a presence in Singapore, expanding its footprint to over 5,000 healthcare partners, 200,000 corporate members and 2,500 corporate clients across Malaysia and Singapore. With AAA Indonesia now under the HealthMetrics’ family, the combined members for both companies will be over two million corporate members and insurance policy holders. In the coming months, HealthMetrics will embark to raise its Series B funding, following its success in securing US$4.3 million (RM20 million) for its Series A in 2020. It has so far raised US$6.6 million (RM30.7 million).
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