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Posted : 2014-06-30 13:05
Updated : 2014-06-30 13:12

S. Korean consortium to provide medical system to Saudi Arabia

The Seoul National University Bundang Hospital and SK Telecom Co. said Monday their consortium succeeded in clinching a deal to provide a medical information system to Saudi Arabian hospitals.

The deal, worth 70 billion won (US$69.1 million), was struck with Saudi Arabia's Ministry of National Guard to provide the system to six hospitals over the next two years. The Korean partners will also establish a joint venture with the ministry to expand sales to other countries in the Middle East. The deal is expected to bring some 300 billion won in sales over the next five years.

The consortium said the deal is attributable to the hospital's know-how in the technologies related to medical systems, along with SK Telecom's strong market recognition in Saudi Arabia that helped it compete against rivals from the United States and Europe.

The deal marks the first of its kind for Korea, the consortium officials said.

Seoul National University Bundang Hospital became the world's first "paperless" hospital in 2003. SK Telecom, which has tapped the healthcare industry as the company's next growth engine, acquired a Chinese medical instrument company and has been searching for tie-ups with hospitals.

The consortium said global information and technology firms from Asia and Europe were inquiring about possible cooperation for the Saudi Arabian project. (Yonhap)

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