Sunday, 22 September 2019

China's Huimei Technology receives $30 million in Series C funding

03 September 2019 | News

Pharmaceutical firm WuXi AppTec and Huimei Capital, the investment arm of healthcare services provider Huimei Healthcare backed the series C round

Recently, Beijing Huimei Technology, involved in the field of medical artificial intelligence, announced the completion of the C round of$30 million  financing, led by Qiming Ventures, which is well-known in China's venture capital industry, and WuXi PharmaTech risk. Investment funds and benefits per capital and investment. Huimeis'early investors are high-end capital focused on long-term value investment. The introduction of new investors is intended to bring more diversified resources and a broader perspective to the company.

“We are very pleased to have the opportunity to invest in every technology. We are always looking for investment opportunities to improve the quality of medical services through technology. We will support each knowledge, understanding and AI-based technology development and transformation capabilities of the latest clinical treatment. Improve the quality and efficiency of medical services. The team with Zhang Qi as the core has a long-term commitment to this important mission, and we will support the team to gradually implement this mission as a reality,” said Hu Xubo, managing partner of Qiming Venture Partners.

 Hu Zhengguo, Co-CEO of WuXi PharmaTech, said: “WuXing Kangde focuses on cutting-edge investment in science and technology and actively builds a healthy ecosystem of medical health innovation. Huiyi Technology combines excellent AI technology and medical diagnosis knowledge to effectively improve the medical service ecosystem. Investing in each technology can further expand WuXi PharmaTech's ability to support medical innovation and accelerate the promotion of empowering doctors and hospitals to benefit patients."

“The Zhang Qi team has developed a territory in the field of medical artificial intelligence in just a few years, and established a closed loop of products from medical behavior to medical quality management, providing clinicians and hospital administrators with effective and improved quality and safety. The tools that innovate to create value are also best practices for every medical group to use technology to empower traditional medical concepts,” said Luo Ruqi, CEO of Huimei Medical Group and Hui Capital Management Partner. As a vertical medical health fund under the Gaochun Capital Group, Huiyi Capital is based on the extensive layout of Gaochun Capital in the medical and health industry and the investment in the medical health ecosystem with multi-dimensional and three-dimensional investment. More early and growing pharmaceutical companies have achieved rapid growth.

Utilizing the strength of technology to make up for the "experience medicine shortcomings" of traditional medical services, bringing more normative and security to the industry. When the company's founder and CEO Zhang Qi talked about the original intention of entrepreneurship, he said: "Medical care is a highly specialized special industry. Safety and effectiveness are the permanent foothold of medical services. But in the actual clinical process, medical quality management and patients Security guarantees often lag behind, and traditional management methods can no longer meet the highly specialized disease diagnosis and treatment process. Through the combination of big data processing technology, natural language processing ability and computer-executable medical clinical logic, medical treatment can be effectively recognized. Quality defects caused by human error in the process."

It is understood that the company focuses on building an "AI-based medical quality control system". After completing the C-round financing, Huimei Technology will continue to deepen product research and development, and build Dr. Mayson as the brand's core medical AI product barrier.

Zhang Qi emphasized that the cornerstone of AI clinical application lies in the medical knowledge map. For this reason, the company has established a team of more than 30 full-time doctors, of which more than 10 are senior doctors from well-known hospitals such as Peking University Hospital and Zhejiang Run Run Shaw Hospital. They also build a more complete and professional knowledge base with the top specialists of the top three hospitals, and continue to iteratively update each knowledge map to lay a “foundation” for the “superstructure” of AI applications, and realize the knowledge base from the whole department. , extended to high-level clinical decision support system (CDSS), single disease process quality control system, VTE intelligent control system, perioperative decision support system, medical record quality control system, specialist data set and other AI product systems, to build coverage coverage Closed loop of clinical quality management of the process.

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