UK based HealthTech startup Medopad announced yesterday it signed deals worth over £100m with companies in China. The deals follow meetings between UK Prime Minister Theresa May and China’s President Xi and Premier Li in the Chinese capital Beijing.
In total Medopad has signed 15 trade deals with various leading Chinese organisations. The most notable is with Tencent, the largest technology business in China. The deal will see the two companies work to increase the use of artificial intelligence within the healthcare sector support doctors’ decision making. The other deals include Lenovo, China Resources, Peking University, GSK China, Ping An Good Doctor and UMP Healthcare.
CEO of Medopad Dan Vahdat is currently out in China as part of UK Prime Minister Theresa May’s delegation. The Prime Minister is meeting with China’s President Xi an Premier Li to increase trade agreements between the two countries ahead of Brexit.
The deals will help Medopad continue with their global expansion and in turn create 500 new jobs in the UK by 2020.
Speaking after the deal was made Vahdat said: “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.”
Dan Vahdat and Rich Khatib founded Medopad in 2011 and is based in London with offices in Singapore and Munich. The company specialises in HealthTech and has previously developed remote patient monitoring apps, mobile technology and advanced analytics that aim to deliver a better service for patients. More recently Medopad’s AI division has been using advances in artificial intelligence to assist with disease detection and prevent patient misdiagnosis.