SAN FRANCISCO, April 4, 2017 /PRNewswire/ -- Enlitic, a medical deep learning company, is pleased to announce that it has executed a Memorandum of Understanding ("MOU") with Beijing Hao Yun Dao Information & Technology Co., Ltd ("Paiyipai") to provide Enlitic's deep learning solution to Paiyipai for diagnostic imaging in Health Check centers across China.
Paiyipai is a medical big data company. The company is a market leader in China in the analysis of individual laboratory medical test results, and the storage and distribution of user medical records.
The MOU forms the basis of collaboration for the first large-scale commercial deployment of Enlitic's deep learning technology in China. It was executed following a successful 10,000 chest x-ray trial of Enlitic's patient triage platform.
The private health check industry has emerged in the last decade in China as an essential care-management system, providing access to regular check-up and diagnostic services along with medical data portability in the absence of a general practitioner network. Recent reforms have seen an expansion of private healthcare services in China, with approximately 300 million people using health check services in a growing market currently worth an estimated RMB80 billion per year (USD11 billion). The majority of patients receive annual chest x-rays and basic check-up services, with options to include MRIs, CT studies and genetic testing.
"Deep learning supported diagnostic solutions delivered across a growing network will drive significant efficiencies in healthcare delivery, and provide rich insights to improve early detection, treatment planning, and disease monitoring. We are very excited about what this large-scale deployment will mean for healthcare in the 21st century," said Sally Daub, CEO, Enlitic.
Enlitic's deep learning technology will enable Paiyipai to leverage insights from billions of clinical cases to deliver world-leading radiological diagnostic services across a broad patient network.
Andrew Harrison, Managing Director of Capitol Health Limited (ASX:CAJ) – a leading institutional investor in Enlitic, noted "the scale of the Chinese Health Check market lends itself to the deployment of Enlitic technology, due to large patient volumes and the shortage of practicing radiologists. Enlitic technology will drastically change the economics of this market and provide users with significant competitive advantage."
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Enlitic, Inc. ("Enlitic") is a medical deep learning company dedicated to revolutionizing diagnostic healthcare. Enlitic's unique algorithms were engineered from the ground up by renowned data scientists, machine learning practitioners, and medical experts. By combining medical images, texts, and other data, Enlitic insights leverage billions of clinical cases to accelerate pharmaceutical research and drug trials, drive clinical efficiencies, and improve diagnostic accuracy, speed and patient outcomes. Named one of the "50 Smartest Companies in 2016" by MIT Tech Review, Enlitic is headquartered in San Francisco, California.
Beijing Hao Yun Dao Information & Technology Co., Ltd (known as "Paiyipai") is a technology service company. The company is a market leader in China in the analysis of individual laboratory medical test results, and the storage and distribution of user medical records.
Paiyipai's shareholders include the pioneer of Chinese healthcheck industry, Dr Han Xiaohong. Dr Han, who holds a Masters of Medical Science from Peking University Health Science Centre, founded healthcheck leader Beijing Ciming Health Checkup Management Group in 2002 in Beijing, and merged it with Shanghai headquartered competitor Meinian, which is listed on the Shenzhen Stock Exchange, in 2015. The merged group is the largest healthcheck operator in mainland China, serving over 15 million patients each year.
In 2015 - 2016, Paiyipai received the prestigious "China Entrepreneur" magazine acknowledgement for the largest hi-growth medical innovation company.
With China now strongly promoting an innovation driven strategy, Paiyipai was handed the "Zhongguancun High-Tech and National High-Tech Enterprise" award in 2016. Zhongguancun is the first high-tech park in China. During the past two decades, Zhongguancun has gathered over 20,000 high and new-tech enterprises, including Lenovo and Baidu. Zhongguancun is the most intensive scientific, education and talent resource base in China.
Capitol Health is a leading provider of diagnostic imaging and related services to the Australian healthcare market. Headquartered in Melbourne, Victoria, the Company owns and operates clinics throughout Victoria and New South Wales. The Company's operational focus is on delivering a community-based infrastructure for radiologists and related medical practitioners to deliver optimal, efficient, accurate healthcare service outcomes for patients.
Capitol also has an investment in diagnostic imaging artificial intelligence through Enlitic, Inc. in the US and a collaboration agreement with Enlitic regarding revenue share from the sale of Enlitic's Deep Learning Services in the radiology field in China.
Capitol also recently entered the Chinese diagnostic imaging market through a Joint Venture with CITIC Pharmaceutical (Shenzhen) Co., Ltd ("CITIC Pharmaceutical") and Xiamen Zhouxin Medical Image Co., Ltd (Zhouxin) to provide consulting and clinic management services to a network of independent imaging clinics to be created by CITIC and Zhouxin across mainland China.
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