MiCare raises USD 60 million from IFC, Mitsui Asia. The strategic investment will be used to fund MiCare’s expansion in key Southeast Asian markets, including Indonesia and Vietnam, as well as to set up a new regional headquarters in Singapore.
A subsidiary of Zuellig Pharma, MiCare is a managed care organization that administers, processes, and manages medical claims of policyholders and members on behalf of insurance companies and self-insured corporate clients.
The company also builds applications linking key players in the healthcare sector such as doctors, patients, hospitals, clinics, and pharmacies to facilitate the management of medical claims.
Currently, MiCare claims to have more than 13 million members in three countries — Malaysia, Thailand, and the Philippines — and is looking to continue to grow and expand in the region.
MiCare currently processes medical claims of approximately US$400 million annually. The company manages and administers medical claims for over 45 insurers in the region, serving more than 6,500 corporate clients in over 5,000 hospitals, clinics, and pharmacies.