AI healthcare firm signs £100m deals in China
An artificial intelligence (AI) healthcare start-up has announced over £100m of commercial projects and partnerships during a visit to China.
Medopad's chief executive Dan Vahdat signed the 15 trade deals during Prime Minister Theresa May's trade talks in Beijing.
The London-based company has struck a partnership with Tencent, China's largest technology business, to advance the use of AI in healthcare, improve research impact and support clinical decision-making.
It also sealed agreements with other organisations including China Resources, GSK China, Peking University, Lenovo, Ping An Good Doctor and UMP Healthcare.
"It is a privilege to be a part of UK Prime Minister May's delegation to China to meet President Xi and Premier Li," Vahdat said.
"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."
Richard Burn, director-general department for international trade China, added: "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."
Medopad also signed deals with a number of UK organisations. Chelsea FC will work with the company to develop solutions that support the health and performance of players in Chinese football academies. Future lans include launching a fan engagement program promoting healthy living.
Thanks to the new trade deals and partnerships, Medopad plans to expand in the UK and globally, creating 500 new jobs by 2020.