Medtech AI company nets £100m in deals during PM’s China visit
Medtech artificial intelligence (AI) firm Medopad has secured more than £100m worth of commercial projects and partnerships on a business delegation in China.
The 15 deals, announced during Prime Minister Theresa May’s trade talks in Beijing, include agreements with pharma giant GSK China, state-owned group China Resources and Peking University.
London-headquartered Medopad also struck a partnership with Tencent, China’s biggest technology business, which could advance the use of AI in healthcare, improve research impact and support clinical decisionmaking.
Medopad chief exec Dan 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.”
He continued: “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.”
The director-general of the Department for International Trade in China, Richard Burn, commented: “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.”