Patrick Ho named CFO of ehealthcareasia

Electronic clearinghouse for healthcare-related transactions, ehealthcareasia, has named Patrick Ho, former director of corporate management at the Hong Kong Sports Development Board, to the post of chief financial officer.

Ho, 45, joins ehealthcareasia as it grows beyond the managerial confines of its parent company, Quality Healthcare, Hong Kong's biggest healthcare provider outside the Hospital Authority. Previously, ehealthcareasia's finances had been managed by Quality Healthcare CFO Mark Wong.

"We've reached the point now where we warrant a CFO of our own," says Philip Kirkwood, executive director at ehealthcareasia.

Ho will report to the Hong Kong-listed company's chief executive, Sam Abunassar. He will be responsible for corporate finance, accounting, human resources and administration at ehealthcareasia. The company makes money by providing electronic billing and payment services on transactions conducted between clinics, hospitals, laboratories and insurance companies.

Since achieving a backdoor listing on the Hong Kong Stock Exchange in June by acquiring Kin Wing Chinney, a construction company, ehealthcareasia has completed two acquisitions. In a transaction announced yesterday, the company agreed to buy Medseed, a Melbourne-based maker of software and handheld computing device systems for clinical decision-making, for HK$5 million ($641,000) in shares. Shares of ehealthcare shares are currently trading at HK$0.23. It paid the equivalent of HK$0.50 per share for Medseed.

Ho is a chartered accountant and member of the institute of chartered accountants in England and Wales. In 1984 he moved to Australia as business services manager for Price Waterhouse. In 1997 he became director and company secretary of Sino Securities International and Sino Investment Services, Australian-listed investment banks. In 1991 he joined Wah Tung International in Hong Kong before joining the Hong Kong Sports Development Board in 1994.