Bliss GVS Healthcare rises 5% on winning 3-year contract worth $111.40 mn

Shares of Bliss GVS Healthcare rose around 3.5% in afternoon trade on Tuesday after the company won a 3-year contract from Aon Kenya Insurance Brokers.

The stock gained more than 5% to Rs 125.50 in intra-day deals on BSE after falling 8% in the previous session.

A total of 1 lakh shares changed hands on the counter on BSE, compared with a two-week daily average of 1.2 lakh shares.

“Bliss GVS Healthcare, the Kenyan step down subsidiary of Bliss GVS Pharma, has won a three year contract worth $111.40 million from Aon Kenya Insurance Brokers, for provision of Medical Healthcare Services in Kenya,” said the company in a regulatory filing to BSE.
 

“The contract covers outpatient services for over 304,060 members. This Medical Cover is to be managed by AON Kenya Insurance Brokers will benefit the principle contributor, his/her spouse and up to four children,” it added.

The medical cover provides for dental, optical on an outpatient basis and for maternity. Service payments will be received by the company for AON, on advance, on a quarterly basis