Orangekloud SaaS Solutions to be Distributed in South Africa via MOU Signed with JPJ Medical
Rhea-AI Summary
Orangekloud Technology (Nasdaq: ORKT) has signed a Memorandum of Understanding (MOU) with JPJ Medical to distribute its SaaS solutions in South Africa's healthcare sector. The partnership aims to offer Orangekloud's eMOBIQ® No-Code platform as a white-labeled OEM solution, enabling healthcare organizations to automate and streamline mobile digital processes.
Key points:
- JPJ Medical will receive training and support from Orangekloud
- The partnership is expected to expand Orangekloud's market reach in South Africa
- CEO Alex Goh anticipates finalizing the agreement within weeks
- The collaboration targets the growing demand for digital transformation in South African healthcare
Positive
- Potential expansion into the South African healthcare market
- Strategic partnership with a leading distributor in the medical and pharma sectors
- Opportunity to capitalize on growing demand for digital transformation in healthcare
Negative
- Agreement is still in MOU stage, not yet finalized
- Actual financial impact and revenue potential not disclosed
News Market Reaction – ORKT
On the day this news was published, ORKT gained 4.91%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Singapore, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Orangekloud Technology Inc. (Nasdaq: ORKT) (“Orangekloud” or “the Company”), a Singapore-based technology company offering the eMOBIQ® No-Code platform for the development of mobile applications and SaaS subscription-based ISV Solutions, today announced the signing of a Memorandum of Understanding (MOU) with JPJ Medical (Pty) Ltd, a leading distributor of technology solutions within the medical and pharma sectors in South Africa, to form a strategic partnership whereby JPJ will distribute Orangekloud’s SaaS Solutions as a white-labeled OEM solution to the South African healthcare industry.
The Orangekloud OEM solution is designed to enable businesses and organizations to automate and streamline their mobile digital processes and create paperless digital solutions. According to the MOU, Orangekloud will provide JPJ with the necessary training, support, and resources to enable JPJ to effectively promote and sell the ORKT OEM solution.
JPJ, with its network partners, will deploy the Orangekloud OEM solution to healthcare organizations in South Africa and ensure the solution meets specific healthcare requirements and is effectively implemented. As a result of the partnership, Orangekloud is expected to gain significantly expanded reach and market penetration within the South African healthcare sector.
“We are optimistic about the potential of this agreement with JPJ,” said OrangeKloud CEO, Alex Goh. “Once finalized as a full partnership, we believe it will allow us to capitalize on the South Africa healthcare industry's growing demand for digital transformation, and solidify Orangekloud's position as a leading provider of SaaS Solutions in that highly lucrative market.”
Mr. Goh said he expected the partnership to be finalized within the next few weeks or sooner.
About Orangekloud Technology Inc.
Orangekloud Technology Inc. (NASDAQ: ORKT) is a Singapore-based technology company which offers the eMOBIQ® No-Code platform to develop mobile applications specially designed for Small and Medium Enterprises (SMEs) and corporations. The eMOBIQ® suite of mobile applications designed to digitalize and streamline business processes in operations includes warehousing, sales ordering, delivery, and manufacturing. eMOBIQ® customers come from various industries, including food manufacturing and food service, precision engineering, construction, retail, energy, and warehouse management.
About the JVJ Medical Pvt Ltd
The company began operations in 2017 and their primary objective was to provide Solution based Distribution options for the Healthcare Industry in South Africa.
A culmination of 3 decades of management experience helped identify the necessary solution gaps within the Healthcare Industry in South Africa which ultimately formed the basis of building a Management Service Consultancy and Solution based Distribution within this Vertical Industry.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and OrangeKloud Technology Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
OrangeKloud Technology Inc. Investor Relations Contact:
1 Yishun Industrial Street 1 #04-27/28 & 34 Aposh Building Bizhub
Singapore 768160
(+65) 6317 2050
Email: ir@orangekloud.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
