Pharmaniaga Logistic Sdn Bhd (PLSB), a subsidiary of Pharmaniaga Bhd, has inked a seven-year concession agreement with the Ministry of Health (MOH) for medical supply logistics services, effective from July 1, 2023.
Under the agreement, PLSB is granted exclusive rights to oversee the procurement, storage, supply, and delivery of medical products to public sector customers.
Additionally, PLSB has the authority to offer Pharmacy Information System services and is empowered to either construct or acquire four new warehouses dedicated to medical product storage.
While the specific contract value remains confidential, this deal marks a significant development for Pharmaniaga, which has held a similar agreement since 1994 with extensions.
Currently designated as a Practice Note 17 (PN17) company, Pharmaniaga is majority-owned by delisted Boustead Holdings Bhd, with the notable presence of military fund Lembaga Tabung Angkatan Tentera (LTAT) as a significant shareholder.
This strategic move positions Pharmaniaga as a key player in the medical logistics sector, reinforcing its commitment to supporting the Ministry of Health’s efforts in ensuring efficient and timely access to medical products for public healthcare needs.