ALLIANCE Healthcare Group on Tuesday announced that its wholly-owned subsidiary Alliance Healthcare has signed an agreement with DBS Bank to collaborate on joint marketing activities.

Under the agreement, Alliance and DBS will promote each other's products, services and/or platforms for an initial term of two years.

Alliance will also provide a health and wellness programme to DBS customers who purchase an insurance policy. The AllyCare Programme will be delivered through Alliance's proprietary digital health app HeyAlly, which provides access to functions and services like on-demand tele-medical advisory, a comprehensive panel of medical services and an online store for healthcare and wellness solutions.

The board said it believes the two parties will be able to leverage each other's strengths in their respective fields through the collaboration. "The (Alliance) group will gain access to the financial institution's financial technology, distribution and customer knowledge, while DBS will benefit from the group's understanding and experience in the healthcare industry, particularly in delivering cost-effective outpatient healthcare management solutions," it said.

The agreement is not expected to have any material impact on Alliance's financial results for the current financial year ending June 30, 2021.

Alliance shares closed flat at S$0.167 on Tuesday.

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