ROSH PINA, Israel & CAPE TOWN, South Africa--(BUSINESS WIRE)--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 solutions, has received a follow-on order from Smart Applications International Ltd. (SMART) for 200,000 MediSmart cards. Based in Kenya, SMART delivers technology-driven healthcare solutions that provide easy and secure access to healthcare services.
The MediSmart solution is an information management and claims submission system that incorporates contactless smart card and biometric technologies. oti’s MediSmart cards validate the identity of a patient by using fingerprint biometric technology, which cuts down on fraud and impersonation. MediSmart benefits medical administrators, hospitals, clinics, medical service providers and patients by offering fast and secure access to medical information, transaction generation, claims and expense management, and reporting tools.
With this follow-on order, SMART continues building its presence in the African healthcare sector. It currently offers more than 2,800 points of service in over 1,820 healthcare service providers across Africa, including Kenya, Uganda, Sudan, Rwanda, Zambia and Tanzania. MediSmart implementations in Nigeria and Zimbabwe are currently in the early stages.
“The continued increase of healthcare costs makes the industry very attractive for fraud because of pressure to share insurance benefits with uninsured members,” said Pauline Muriuki, managing director of SMART. “The importance of biometric fingerprint identification to reduce impersonation has been one of the greatest benefits of oti’s biometrically-enabled MediSmart system.”
MediSmart has recently been enhanced to support electronic switching of claims, improving the efficiency of claims delivery and the quality of data delivered to customers.
Charlotte Hambly-Nuss, managing director of oti PetroSmart, commented: “We are delighted to work with SMART to enhance our solutions to meet the needs of the healthcare sector in Africa. oti’s MediSmart solution offers both patients and providers the security and confidentiality they deserve while offering improved levels of services.”
SMART and Neil Harvey & Associates, a South African-based information and communications technology provider, have partnered to implement electronic switching of biometrically authenticated MediSmart generated claims for customers across Africa, facilitating expansion into new markets. In March, SMART will launch cross-border trading in the East African market, allowing members to use their MediSmart card to access services biometrically in different countries while being billed in the relevant currencies.
Under the terms of the agreement, SMART pays oti product and licensing fees per issued card. oti’s South African based wholly-owned subsidiary, oti PetroSmart, develops and supports the MediSmart system.
On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on oti's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of oti could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding receipt of future consideration from the sale of oti's SmartID Division, oti's long-term growth and profitability, further penetration of the NFC markets and execution of oti's growth plans. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in oti's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.