Jiu'an + Xiaomi: Building a mobile health cloud platform

At the moment, Jiu'an Medical, which has a "wearable" concept stock aura, is highly regarded by capital.

Following the announcement in June of this year that Tencent has cooperated with WeChat platform, in late September, Jiu'an Medical once again announced that it will join hands with Xiaomi to jointly build a mobile health cloud platform and earn investors' attention in the medical industry.

On September 19, Jiu'an Medical announced that it has adjusted its iHealth-related global business to a new independent entity (designed as iHealth Inc.) and introduced a strategic investment of US$25 million. At the same time, Jiu'an Medical also issued a plan to increase the amount of funds, which is planned to raise no more than 810 million yuan to build intelligent hardware and mobile medical surrounding ecological fields.

Ji Jing, a representative of Jiu'an Medical Securities Affairs, said in an interview that the cooperation between Jiu'an Medical and Xiaomi has just begun. At this stage, Xiaomi website is selling iHealth smart cloud sphygmomanometer, which is currently only available on the Xiaomi website. “In terms of product design and user experience, Xiaomi has put forward a lot of suggestions, and closely cooperates with the relevant departments of the two companies in design and sales.”

Jiu'an + Xiaomi: Building a mobile health cloud platform

However, Shi Lichen, a senior partner of Peking University Management Consulting Group, told reporters that Jiu'an Medical has not really entered the mobile medical field, and the current stage of development is still "playing concepts." In his view, mobile medical care is a group of two groups, such as physical hospitals or clinics, medical staff or experts, who can provide real-time medical services to consumers.

Earn $25 million in investment in Xiaomi

Jiu'an Medical announced that the company has signed an investment agreement with Xiaomi Investment on September 18, 2014. Xiaomi Investment will increase iHealth's investment of US$25 million. iHealth will become a partner in Xiaomi's mobile health field. Xiaomi will cooperate with iHealth in user experience, Xiaomi e-commerce and cloud services to build a mobile health cloud platform.

It is worth mentioning that after the completion of the capital increase, Xiaomi will account for 20%. "We are strategically cooperating with Xiaomi this time. There is not much discussion on the valuation. Xiaomi itself only accounts for 20%. The attraction of our strategic resources is very clear." Qi Jingyu told the Times Weekly reporter.

However, Jiu'an Medical also mentioned the related risks in the announcement: after the introduction of Xiaomi Investment, there may be risks in the differences between the investors and the original shareholders due to differences in corporate culture and management concepts; at the same time, the company is in research and development, market Investment in development and other aspects will increase, and costs will rise. If sales are not as expected, it will put pressure on short-term performance.

Qi Jingyu told reporters that Jiu'an Medical has a long-term involvement in mobile medical care and has leading advantages in mobile medical device research and development, production and design. Xiaomi's advantages in product design, user experience and mobile Internet marketing are self-evident. The two sides combine their respective advantages to jointly build a personal health management platform for mobile healthcare.
It is worth noting that the cooperation with Xiaomi is not the first cooperation between Jiu'an Medical and Internet Corporation.

In June of this year, Jiu'an Medical has cooperated with Tencent on the WeChat platform. Its iHealth wearable smart health watch was first connected with WeChat, and opened the entrance of intelligent hardware and WeChat social relationship.

In its 2013 annual report, Jiu’an Medical mentioned “continuing to develop new products in the iHealth series and exploring the Internet marketing model”. Moreover, Jiu'an Medical said that the company defines intelligent hardware products as “hardware + APP + cloud service”, which is based on wearable devices and intelligent hardware, enabling users to easily complete data collection and upload automatically while implementing hardware application functions. Go to the cloud, and then share various application scenarios according to user needs.

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