Maestros Electronics To Set Up Remote Telemedicine Network Across India
Maestros Electronics & Telecommunications Systems Limited has entered into an agreement with Gandhi Foundation, Tamilnadu, with the purpose to set up remote telemedicine network across India starting with 3,300 units of Caremate Kiosk for an amount aggregating to Rs. 80,19,00,000/- (Rupees Eighty Crores Nineteen Lakhs Only). (Excluding Taxes)
It is further informed that Company is not holding any share(s) in Gandhi Foundation. The Company will not have any special rights to appoint directors, first right to share subscription in case of issuance of shares or right to restrict any change in capital structure etc. The parties to the agreement are not related to promoter/promoter group/group companies in any manner and the transaction will not fall within the ambit of related party transaction.
Further, it is stated that no shares will be issued either party of the agreement.
Kindly take note that, we have signed an agreement with Gandhi Foundation as the exclusive partner for the supply of Tele-Health kiosk. This is for implementation of the rural telemedicine network in state Tamilnadu as Pondicherry. The order is worth Rs. 80.19 Crores.
The pilot implementation will commence in Q4 of 2018-19 and billing will start reflecting only by Q2 of 2019-20. The implementation timelines is 24 Months. Being a government order it carries a risk of project execution delays and payment realisation delays usually associated with any large Government implementations.
- Bagged By:
- Industry:ICT Service
- Value:INR 81.9 Million
- Published On:2019-01-03