Zepp Health Continues to Invest in Disruptive Technologies with an Additional Investment in Promaxo While Enhancing Its Strategic Partnership
28 April 2022 - 6:00PM
Promaxo, Inc. (Promaxo), the medical imaging, robotics, and AI
technology company, and Zepp Health (NYSE: ZEPP), a leading global
developer of smart health technology, today announced additional
investments in Promaxo. Promaxo and Zepp Health will also continue
to deepen their commercial partnership by sharing artificial
intelligence resources, setting up new product manufacturing
opportunities, and seeking China Food and Drug Administration
(CFDA) regulatory approval.
“We are pleased to have strategic investors,
such as Zepp Health, as we commercialize our truly open MRI system
to the broader physician office community,” said Dr. Amit Vohra,
Founder and CEO of Promaxo. “Zepp Health’s financial support is a
welcome contribution as we execute on our vision and advance MR
guided diagnosis and treatment options to our patients and clinical
partners.”
Promaxo plans to use the funds to accelerate
commercialization of its artificial intelligence in imaging and
image-based interventions. Promaxo’s patient-centric approach aims
to provide patients with cutting-edge technology as it works to
expand the frontiers of knowledge in the fields of medical imaging,
robotics, and artificial intelligence.
“Zepp Health's mission is to connect health with
technology, and we see tremendous opportunity in imaging as we
expand our footprint in the health technology space. Companies such
as Promaxo are disrupting the locations, applications, and costs of
medical imaging. Zepp Health has resources, such as miniaturization
engineering expertise, that can help accelerate Promaxo’s growth
and success, and we look forward to what our partnership can
develop,” said Zepp Health COO Mike Yeung.
Zepp Health's Vice President of Business and
Corporate Development, Tim Houchin, added, "Zepp Health has become
a global leader in consumer health technology. These partnerships
with diagnostic healthcare technologies present new financial and
market opportunities for our business to expand into industrial
medical technology."
About Promaxo, Inc.
Promaxo was founded by a team of entrepreneurs
and healthcare innovators to develop a minimally-invasive and
patient-centric MRI and robotic platform. Based in Oakland,
California, and backed by over 200 patents, the company’s mission
is to improve lives through state-of-the-art medical imaging,
robotics and AI capabilities. With a compact and adaptable MRI,
Promaxo is redefining the standard of care by improving the quality
and speed of patient diagnosis and interventions. The Company has
formed numerous long-term and strategic partnerships with investor
groups and corporations as it drives commercialization of the
Promaxo MRI system.
About Zepp Health Corporation
Zepp Health is a leading global developer of
smart health technology, whose mission is to connect health with
technology. Since its inception in 2013, Zepp Health has developed
a platform of proprietary technology including AI chips, biometric
sensors, data algorithms and operating systems, which drive a
broadening line of smart health devices for consumers, data
analytics services for population health, and industrial medical
technology for diagnostics and care delivery. Zepp Health is one of
the largest global developers of smart wearable health and consumer
fitness devices.
For Zepp Health
Zepp Health Media:Hayward Wong,
hayward.wong@zepp.com
Zepp Health Investors:Zepp Health
CorporationGrace Zhang, zhangyujia@zepp.com
For Promaxo
Promaxo Investors:Gilmartin GroupVivian
Cervantese: IR@promaxo.com
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