oti Extends MediSmart Implementation in East Africa With Order From Smart Applications International for 500,000+ Cards
ROSH PINA, ISRAEL and CAPE TOWN, SOUTH AFRICA--(Marketwired - Apr 18, 2016) - OTI PetroSmart, a wholly owned subsidiary of On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has received an order from Smart Applications International Ltd. (Smart) for more than 500,000 MediSmart™ cards.
oti's MediSmart solution is an information management and claims submission system that incorporates contactless smart card and biometric technologies. MediSmart cards validate the identity of a patient by using fingerprint biometric technology, which reduces fraud and impersonation. MediSmart benefits medical administrators, hospitals, clinics, medical service providers, and patients by providing fast and secure access to medical information, claims and expense management, and reporting tools.
Kenya-based Smart Applications International, a leading provider of technology solutions that provide easy and secure access to healthcare services, will distribute oti's MediSmart cards across Kenya and other East African countries. Smart's members will use their MediSmart cards to access healthcare services in different countries using the same card but billed in the relevant currencies.
Smart has demonstrated its capacity for constant innovation to address the ever changing demands of the market by installing oti's NFC card readers at more than 3,000 points of service in over 2,500 healthcare service providers throughout East Africa. With this order, Smart continues building its presence in the African healthcare sector.
"We continue to be encouraged with the rapid expansion of the MediSmart solution across East Africa," said Charlotte Hambly-Nuss, Managing Director of OTI PetroSmart. "In fact, at the end of the first quarter, the number of MediSmart cards in circulation in East Africa exceeded more than 1 million units, enabling leading healthcare technology providers like Smart to solidify their position in the expanding market. Building on oti's history of innovation, our MediSmart solution changes the way medical information is accessed, managed, and reported."
Consistent with oti's recurring revenue strategy, oti generates both product fees and recurring licensing fees per issued card. OTI PetroSmart is responsible for the development and support of the MediSmart product.
