Medopad Signs over £100m in China trade deals
Prime Minister May’s meetings with China’s President Xi and Premier Li ink deals for Medopad.
Tencent and Medopad partner to deliver medical AI solutions globally.
Deal partners include: Lenovo, China Resources, GSK China, Ping An, Peking University, Accenture and others.
Medopad to expand in the UK and globally, creating 500 UK jobs by 2020.
1st February 2018, London – Medopad, the UK-based health-tech AI company, today announced over £100m of commercial projects and partnerships in China. This announcement comes as UK Prime Minister Theresa May meets with China’s President Xi following trade talks with Premier Li in Beijing.
Medopad has signed 15 trade deals, with leading Chinese organisations. Notably, the partnership with Tencent, China’s largest technology business, will advance the use artificial intelligence (AI) in healthcare platforms for research impact and clinical decision support. Others include China Resources, GSK China, Peking University, Lenovo, Ping An Good Doctor and UMP Healthcare.
Dan Vahdat, CEO of Medopad, commented: “It is a privilege to be a part of UK Prime Minister May’s delegation to China to meet President Xi and Premier Li. We are honored to announce collaborations and projects with leading Chinese and international healthcare, technology, academic and corporate partners. Together we will work to improve patient care in China and around the world, and we look forward to our technology and AI capabilities contributing a small part towards China’s healthcare reform goals.”
“Doing business in China is different to the UK. The Department for International Trade, the UK Embassy in China and Healthcare UK have supported us with great counsel, securing timely meetings and enabling us to network in the right channels.”
Richard Burn, Director-General Department for International Trade China, commented: “Medopad is a fast-growing UK SME with cutting edge healthcare technology and AI capabilities that deliver remarkable outcomes for patients and practitioners alike. I am delighted that they have successfully negotiated several deals with such significant Chinese partners. DIT China has been proud to work with Medopad to facilitate introductions to Chinese government departments and potential business partners and to have provided advice on policy and approvals processes. We look forward to supporting more dynamic businesses like Medopad as they pursue the tremendous opportunities on offer in China.”
Agreements with Chinese organisations include:
- Tencent Holdings Collaborating with China’s largest technology business, to advance the use artificial intelligence (AI) in healthcare platforms for research impact and clinical decision support
- China Resources Projects worth £36m with Medopad to transform how patients with chronic and high cost diseases are cared for, being deployed in 600 hospitals over five years.
- Peking University Partnered with Medopad to configure new care models and patient monitoring solutions. This will form part of a £75 million investment in projects funded by government, hospitals and other enterprises.
- Ping An Good Doctor Will explore deploying Medopad’s technology, alongside their advanced AI, supporting delivery of remote monitoring to a cohort of their chronic and disease patients from their close to 200m user base.
- The National Clinical Research Centre for Geriatric Disorders.Based at Xuanwu hospital of Capital Medical University in Beijing, utilising Medopad’s patient monitoring and AI capabilities to better deliver care to their millions of patients with Parkinson’s and Alzheimer’s disorders.
- Lenovo New Vision signing a project to explore new types of wearable technology in empowering remote patient monitoring.
- A Janssen Pharmaceutical Company of Johnson & Johnson, will collaborate with Medopad to explore opportunities to better support patients living with pulmonary arterial hypertension during treatment in China.
- UMP Health Care is undertaking a strategic partnership to explore how the Medopad platform can be used to monitor patients with chronic diseases in primary care settings.
- Johnson & Johnson Vision Care(Shanghai) Medopad to explore a closer working relationship to enhance eye health in China.
- GSK China To explore how Medopad can support patients across China during their treatments on GSK products.
Agreements with UK and global organisations include:
- Medopad recently participated in the Accenture HealthTech Innovation Challenge, and will explore a closer working relationship with Accenture to support medical device companies, pharmaceutical companies, insurers and government level initiatives in the provision of mobile health solutions in China
- Imperial College Health Partners.Medopad will collaborate on the development of predictive analytics for a range of disease indications; leveraging Medopad’s AI/ML capabilities, working with Chinese technology companies.
- Barts Health NHS Trust.Barts Health and Medopad partnering with Chinese organisations to undertake cardiovascular research studies.
- Royal Free NHS Trust. Medopad and The Royal Free Private Patients Unit are exploring using the Medopad platform to introduce its second opinion services to the Chinese Healthcare market.
- Chelsea Football Club.A strategic partnership with Medopad to develop solutions that support the health and performance of players in Chinese football academies. Future plans include launching a fan engagement program promoting healthy living.
– Ends –
Medopad transforms how healthcare providers, doctors and patients connect with each other. The company’s remote patient monitoring apps, mobile technology and advanced analytics unite to deliver a personalised, more efficient care experience.
Headquartered in London, Medopad has been named a HealthTech unicorn in the making by KPMG. Clients include NHS trusts, national healthcare providers, global pharmaceutical organisations, insurance companies, governments, charities and sports clubs.
Medopad’s AI division is leveraging the latest machine learning technologies to address the challenges associated with disease detection, preventative healthcare and patient misdiagnosis.
About China Resources:
Listed in Hong Kong, China Resources is one of China’s top-25 state-owned companies, with 2016 global sales of £56 billion. Its healthcare businesses include the second largest pharmaceutical distributor in China and more than 150 hospitals.
About Peking University:
Peking University/PKU is China’s top-ranked academic institution. PKU has China’s top medical school and China’s largest group of teaching hospitals.