M a r k e t N e w s

Bliss GVS Pharma bags $ 111 million contract in Kenya

Posted on : Wednesday, 23rd November 2016

 The company operates an innovative public-private engagement model to address unmet healthcare requirements in Kenya through its chain of clinics and partner service providers

 
Bliss GVS Pharma Ltd, through its Kenyan subsidiary Bliss GVS Healthcare Limited (BGHL), has won a three year contract worth $ 111.40 million (about Rs 755 crore) from Aon Kenya Insurance Brokers Ltd for provision of medical healthcare services in Kenya. This contract covers outpatient services for over 304,060 members. 
 
"This medical cover provides for dental, optical and on outpatient basis and for maternity. Service payments will be received by the company from Aon, in advance, on a quarterly basis. Part payment for first quarter payment has been received by the company," said Bliss GVS Pharma in a BSE filing.
 
Bliss GVS Healthcare operates an innovative public-private engagement model to address unmet healthcare requirements in Kenya through its chain of clinics and partner service providers. It was only last year that the company made a sensational turnaround of its healthcare operations in Kenya, which swung the unit into profitability.
 
Last year (2015-16), BGHL also won a $ 35 million contract to manage outpatient healthcare services of more than 1.5 million members. On a group level, we see significant synergies in our pharmaceutical operations working in conjunction with our healthcare operations to consolidate the position of the Bliss GVS brand as a provider of accessible, affordable and high quality pharmaceutical products and patient care. 
 
Bliss GVS has also received interest in the managed healthcare model from other Sub-Saharan African (SSA) markets, where its pharmaceutical operations are very well established. The company views this as an opportunity that will provide sustainable growth potential for the group.
 
The Mumbai-headquartered Bliss GVS develops, manufactures and markets high-quality pharmaceutical formulations for the global market. Bliss GVS is one of the pleading players in suppositories and pessaries dosage forms (EU-GMP) with a large portfolios and production capacities in this segment. 

Source : www.business-standard.com
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