Drug firm Bliss GVS Pharma has won an annual service contract worth USD 35 million (over Rs 220 crore) in Kenya for providing medical healthcare cover in association with Aon Kenya Insurance Brokers.
The contract envisages providing medical healthcare cover to 2.88 lakh teachers in Kenya.
"Bliss GVS Healthcare Ltd, a step down subsidiary of the Bliss GVS Pharma Ltd in Kenya has recently won an annual service contract relating to medical healthcare cover equivalent to USD 35 million in association with Aon Kenya Insurance Brokers Ltd," the company said in a filing to the BSE.
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The contract will cover out-patient services for over 2,88,000 teachers who are members of Teachers Service Commission of Kenya.
"Service payments will be received by the company from Aon, in advance, on quarterly basis. The contract is effective July 1, 2015 and the first quarterly payment has been received by the company," Bliss GVS Pharma said.
The contract also envisages supplies of the company's products from India, for administering to patients covered under this scheme, it added.
Bliss GVS Pharma shares today closed 0.23 per cent up at Rs 131.50 per scrip on the BSE.
