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

Insights

Market Research Analyst

This partnership with JPJ Medical presents a strategic opportunity for Orangekloud to penetrate the South African healthcare market. The healthcare sector in South Africa is ripe for digital transformation, with a $11.7 billion market size projected by 2027, growing at a CAGR of 6.8%. However, it's important to note that this is still an MOU, not a finalized agreement. The impact on Orangekloud's revenue stream remains uncertain until concrete sales figures emerge. Investors should monitor the progress of this partnership and its translation into actual market share and revenue growth in the coming quarters.

Tech Expert

Orangekloud's eMOBIQ® No-Code platform could be a game-changer in the South African healthcare sector. The white-label OEM approach allows for rapid customization, potentially accelerating adoption rates. However, success hinges on two critical factors:

• The platform's ability to integrate with existing healthcare systems
• Compliance with South Africa's Protection of Personal Information Act (POPIA)

Investors should seek clarity on these aspects, as they'll significantly influence the partnership's success and Orangekloud's long-term growth in this market.

Financial Analyst

While this MOU signals potential growth, its financial impact remains speculative. Orangekloud's stock may see a short-term boost from this news, but prudent investors should wait for concrete financial projections. Key metrics to watch include:

• Expected revenue contribution from this partnership
• Projected market share in South Africa's healthcare SaaS sector
• Costs associated with training and supporting JPJ Medical

Until these figures are disclosed, it's premature to factor this development into Orangekloud's valuation. The company's ability to convert this MOU into a binding agreement and generate substantial revenue will be important for long-term investor confidence.

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, 5^th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

What is the purpose of Orangekloud's MOU with JPJ Medical?

The MOU aims to form a strategic partnership for distributing Orangekloud's SaaS solutions as a white-labeled OEM solution to the South African healthcare industry.

How will the partnership between Orangekloud (ORKT) and JPJ Medical work?

Orangekloud will provide JPJ with training, support, and resources to promote and sell the OEM solution, while JPJ and its network partners will deploy the solution to healthcare organizations in South Africa.

When is the partnership between Orangekloud (ORKT) and JPJ Medical expected to be finalized?

According to CEO Alex Goh, the partnership is expected to be finalized within the next few weeks or sooner from the announcement date of September 18, 2024.

What product is Orangekloud (ORKT) offering through this partnership in South Africa?

Orangekloud is offering its eMOBIQ® No-Code platform for developing mobile applications and SaaS subscription-based ISV Solutions as a white-labeled OEM solution.