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oti Extends Implementation of MediSmart to New Markets with 200,000 Card Order from SMART

  oti Extends Implementation of MediSmart to New Markets with 200,000 Card
  Order from SMART

Medical Management System Uses Biometric and Cashless Technologies for Easier,
                  More Secure Access to Healthcare Services

Business Wire

ROSH PINA, Israel & CAPE TOWN, South Africa -- February 18, 2014

oti PetroSmart, a wholly owned subsidiary of On Track Innovations Ltd. (oti)
(NASDAQ:OTIV), a global provider of near field communication (NFC) and
cashless payment solutions, has received a follow-on order from Smart
Applications International Ltd. (SMART) for 200,000 MediSmart cards. Based in
Kenya, SMART delivers technology-driven healthcare solutions that provide easy
and secure access to healthcare services.

The oti MediSmart health IT solution improves the patient experience and the
accuracy of claims. (Ph ...

The oti MediSmart health IT solution improves the patient experience and the
accuracy of claims. (Photo: Business Wire)

The MediSmart solution is an information management and claims submission
system that incorporates contactless smart card and biometric technologies.
oti’s MediSmart cards validate the identity of a patient by using fingerprint
biometric technology, which cuts down on fraud and impersonation. MediSmart
benefits medical administrators, hospitals, clinics, medical service providers
and patients by offering fast and secure access to medical information,
transaction generation, claims and expense management, and reporting tools.

With this follow-on order, SMART continues building its presence in the
African healthcare sector. It currently offers more than 2,800 points of
service in over 1,820 healthcare service providers across Africa, including
Kenya, Uganda, Sudan, Rwanda, Zambia and Tanzania. MediSmart implementations
in Nigeria and Zimbabwe are currently in the early stages.

“The continued increase of healthcare costs makes the industry very attractive
for fraud because of pressure to share insurance benefits with uninsured
members,” said Pauline Muriuki, managing director of SMART. “The importance of
biometric fingerprint identification to reduce impersonation has been one of
the greatest benefits of oti’s biometrically-enabled MediSmart system.”

MediSmart has recently been enhanced to support electronic switching of
claims, improving the efficiency of claims delivery and the quality of data
delivered to customers.

Charlotte Hambly-Nuss, managing director of oti PetroSmart, commented: “We are
delighted to work with SMART to enhance our solutions to meet the needs of the
healthcare sector in Africa. oti’s MediSmart solution offers both patients and
providers the security and confidentiality they deserve while offering
improved levels of services.”

SMART and Neil Harvey & Associates, a South African-based information and
communications technology provider, have partnered to implement electronic
switching of biometrically authenticated MediSmart generated claims for
customers across Africa, facilitating expansion into new markets. In March,
SMART will launch cross-border trading in the East African market, allowing
members to use their MediSmart card to access services biometrically in
different countries while being billed in the relevant currencies.

Under the terms of the agreement, SMART pays oti product and licensing fees
per issued card. oti’s South African based wholly-owned subsidiary, oti
PetroSmart, develops and supports the MediSmart system.

About oti

On Track Innovations Ltd. (oti) is a leader in contactless and NFC
applications based on its extensive patent and IP portfolio. oti's
field-proven innovations have been deployed around the world to address NFC
and other cashless payment solutions, petroleum payment and management,
cashless parking fee collection systems and mass transit ticketing. oti
markets and supports its solutions through a global network of regional
offices and alliances. For more information, visit www.otiglobal.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal securities laws. Because such statements deal
with future events and are based on oti's current expectations, they are
subject to various risks and uncertainties and actual results, performance or
achievements of oti could differ materially from those described in or implied
by the statements in this press release. For example, forward-looking
statements include statements regarding receipt of future consideration from
the sale of oti's SmartID Division, oti's long-term growth and profitability,
further penetration of the NFC markets and execution of oti's growth plans.
The forward-looking statements contained in this press release are subject to
other risks and uncertainties, including those discussed in the "Risk Factors"
section and elsewhere in oti's annual report on Form 20-F for the year ended
December 31, 2012 and in subsequent filings with the Securities and Exchange
Commission. Except as otherwise required by law, OTI disclaims any intention
or obligation to update or revise any forward-looking statements, which speak
only as of the date hereof, whether as a result of new information, future
events or circumstances or otherwise.

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http://www.businesswire.com/multimedia/home/20140218005642/en/

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Contact:

oti PetroSmart Contact:
Charlotte Hambly-Nuss
Managing Director
Charlotte@oti-africa.co.za
or
Rainier Communications
Press Contact:
Lea Tzimoulis
ltzimoulis@rainierco.com
or
Liolios Group, Inc.
Investor Contact:
Scott Liolios, 949-574-3860
or
Matt Glover, 949-574-3860
otiv@liolios.com
 
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