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KUALA LUMPUR, 1 AUGUST 2024 – Nova MSC Berhad (“Nova MSC” or “the Company”), a leading provider of industry-focused application software and services for the healthcare sector, is pleased to announce the signing of share subscription agreements (SSA) with Jostar Investment VCC (“Jostar”) and Mark Investment Group VCC (“MIG”) for its subsidiaries, Dex-Lab Pte. Ltd. (“Dex-Lab”) and EyRIS Pte. Ltd. (“EyRIS”).
The agreements mark a milestone forward in Nova MSC’s strategic initiatives to enhance its operational and financial capabilities through external investments. Dex-Lab, known for developing DEXIE, a humanoid social robot for dementia care, and EyRIS, renowned for its AI-driven SELENA+ system for early detection of eye diseases, will benefit from the fresh capital to further their innovative projects.
The SSA for Dex-Lab involves Jostar and MIG subscribing to new shares for a total consideration of SGD 10 million (equivalent to RM34.5 million), ensuring Dex-Lab remains a 45% directly-owned subsidiary of Nova MSC, with the Company retaining control over the board of directors. Similarly, the SSA for EyRIS will see Jostar and MIG subscribing to new shares for a total consideration of USD 10 million (equivalent to RM46.5 million), which transforms EyRIS into an associate company of Nova MSC.
Mr Sunny Loh, Executive Chairman of Nova MSC shared his enthusiasm on the development, “We are thrilled to partner with investors who share our enthusiasm for technological innovation. Their support underscores the transformative potential of our projects. The integration of social robots like DEXIE into eldercare demonstrates how technology can significantly enhance emotional support and companionship for the elderly, improving their overall well-being.
Furthermore, our AI-driven SELENA+ system for early detection of eye diseases exemplifies the critical role of deep learning in healthcare, enabling timely diagnosis and intervention. These advancements represent technological milestones and highlight our commitment to making a positive impact on the world through digital transformation and innovative solutions.
NOVA remain Commmitted to Drive Sustainable Growth
The additional funding will support our subsidiaries’ growth and innovation, particularly in advancing AI and robotics technologies. We remain committed to driving sustainable growth and creating long-term value for our shareholders.”
Nova MSC is dedicated to embedding sustainability into its business practices, aligning with the United Nations Sustainable Development Goals (UNSDG). The company’s sustainability strategy focuses on economic, environmental, and social pillars. Initiatives include efficient energy and water management, recycling programs, and promoting a diverse and inclusive workforce.
The share subscription agreements with Jostar and MIG are pivotal in Nova MSC’s journey towards innovation and sustainable growth. By securing these strategic investments, Nova MSC is poised to enhance its capabilities, drive technological advancements, and deliver greater value to shareholders and clients alike.
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