Malaysia's HealthMetrics Secures US$5 mil Series A from Japan’s ACA Investments
By Digital News Asia September 30, 2020
- Expanding regional footprint to SEA, possible expansion of model to B2B2C
- Exploring closer integration with insurance partners to automate their processes
Malaysian based corporate healthcare benefits and wellness management platform HealthMetrics secured USD$5 million (RM20.8 million) as part of its Series A funding. The round was led by ACA Investments, one of Asia’s leading investment groups from Japan with over USD$1 billion asset under management.
“We would like to express our gratitude towards ACA Investments for their confidence in us as we continue striving to make a difference in employee health and wellness at home and across the region. We founded HealthMetrics to ensure that companies are able to manage their employee health and wellness benefits with ease, in a more streamlined and cost-effective way. Our aim was and still is to introduce innovative digital processes to companies for higher efficiency and productivity. Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach on corporate healthcare” said Alvin Yuan, chief executive officer of HealthMetrics.
“We are impressed by how HealthMetrics makes the relationship among the corporates, employees and healthcare service providers more efficient using its online platform. We also believe that HealthMetrics has a strong potential to widen the range of services as a B2B2C medical service platform and expand this footprint regionally. We will support the team to grow further using our network and other resources.” said Tomohiro Fujita, chief investment officer of ACA.
Established in 2008, ACA Investments is a leading investment firm from Japan and headquartered in Singapore. One of the key areas of investment which the company focuses on is healthcare. ACA Investments is also linked to the Daiwa Securities Group, one of the largest investment banks in Japan.
In 2018, HealthMetrics secured seed capital from Spiral Ventures, Cradle Fund and RHL Ventures to establish its services and operations in Malaysia. With the investment, HealthMetrics onboarded more than 1,000 companies onto its platform, launched new feature upgrades which resulted in significantly reduced cost-savings and increased efficiency, while introducing robust safety protocols, work-from-home procedures and privacy-conscious contact tracing systems in the wake of Covid-19.
HealthMetrics will now be expanding its regional footprint across Southeast Asia whilst improving cost efficiency in corporate healthcare investments especially around optimising cost governance towards insurance-based corporate healthcare by working with regional brokers and insurance providers.
Additionally, its existing insurance partners are already exploring a closer integration to leverage HealthMetrics’ data cost-containment algorithm and digital capabilities to automate their processes.
Owing to its comprehensive user base of corporate clients, HealthMetrics is able to achieve economies of scale and negotiate favourable rates for health services such as health screening, vaccination, and other services for its clients, further driving down healthcare costs.
“As we look to expand across the region, we aim to provide companies and their employees with more well-rounded digital solutions which meet their current needs which have evolved further since we founded our company five years ago. More than that, we will continue to assist companies in further optimising their healthcare budgets while constantly providing them with avenues for cost reduction without compromising efficiency, speed and accuracy,” says Alvin.
HealthMetrics currently serves companies of all sizes, including public listed companies, MNCs, as well as small to medium enterprises. HealthMetrics’ portfolio of clients include PricewaterhouseCoopers (PwC), Family Mart, Star Media Group, Taylors Group, Mr. DIY, Pullman Hotels, KLK and others.