UK Firm Medopad Inks USD142 Million Deals, Raises USD28 Million in China
Chen Juan
DATE:  Feb 02 2018
/ SOURCE:  Yicai
UK Firm Medopad Inks USD142 Million Deals, Raises USD28 Million in China UK Firm Medopad Inks USD142 Million Deals, Raises USD28 Million in China

(Yicai Global) Feb. 2 -- UK-based health-tech artificial intelligence firm Medopad Ltd. has signed over £100 million (USD142 million) in commercial projects and partnerships in China as a windfall from the visit to the country by UK Prime Minister Theresa May's trade delegation.

Medopad struck 15 trade deals with leading Chinese firms. Notably, it will cooperate with Chinese Internet titan Tencent Holdings Ltd. to apply AI in healthcare platforms to assess research impact and support clinical decision-making. 
Headquartered in London, Medopad develops mobile technology and data analysis for hospital patient monitoring. Its clients include UK National Health Service trusts and Germany's pharma-giant Bayer AG, per public information. It also announced the close of its series-A USD28 million funding round, a capital infusion that came from several institutional investors, including China's NWS Holdings Ltd.

"Medopad is a fast-growing UK SME [small- and medium-sized entity] 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," said Richard Burn, director-general of the UK's Department for International Trade China, in a press release.

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Keywords:   Medopad,UK