Chubu Electric Power signs a basic agreement with Medical Data Card, a provider of services for centrally managing medical and health information, to turn it into a consolidated subsidiary

Chubu Electric Power Co., Inc. ("Chubu Electric Power") has announced that it has signed a basic agreement with Medical Data Card, Inc. (Shinjuku-ku, Tokyo; President and CEO Kunihiro Nishimura; "MDC") on July 13, 2020 on acquiring MDC shares to turn it into a consolidated subsidiary. The two companies entered into a capital and business partnership in October 2019, and are now in talks on the terms of share acquisition so that Chubu Electric Power can obtain a majority stake in MDC by the end of the second quarter.

MDC is a venture business originating from a medical school. It is partnered with numerous hospitals and other medical institutions in offering the smartphone app "MeDaCa," which allows patients to centrally manage their medical and health information including the results of medical tests.

Chubu Electric Power has already worked with MDC, combining Chubu Electric Power's data platforms with the MeDaCa app to offer various services, including a system that assists the Obstetrics Department of Keio University Hospital perform "remote prenatal checkups."

By turning MDC into a consolidated subsidiary, Chubu Electric Power plans to accelerate its efforts to build a platform that enables smooth communication between patients and medical institutions, while also developing and offering other services including online medical consultations.

[Reference]Corporate Profile of Medical Data Card, Inc. (as of the end of March 2020)