Ping An Increases Shares of Lenovo WIT120 as Its Largest Shareholder

BEIJING, April 3, 2019 /PRNewswire/ -- SSE China Securities Network (Reporter Huang Lei) reported that Ping An Group has recently added a new territory in its the medical map - Lenovo 120 (WIT120) which was renamed Ping An Lenovo WIT120 after Ping An Technology, the wholly-owned subsidiary of Ping An Group, its largest shareholder. The two sides will cooperate in medical products, financial products, joint sales, data platforms, technology research and other aspects

In the future, Ping An Lenovo WIT120 will utilize the ecological layout of Ping An's "Finance + Technology", becoming a "close" member of Ping An Technology focusing on providing integrated solutions for WIT120.

In October last year, Ping An Group invested several hundred million yuan into Lenovo WIT120 and strategically brought it into Ping An Technology after only four months when Ping An Group reinjected hundreds of millions of dollars, which initiate WIT120 practice with finance and technology as two wings.

Ping An Group is the world's leading comprehensive financial service group, among the world's top 500 enterprises. Its subsidiary Ping An Technology focuses on the research and development of technological solutions such as artificial intelligence and cloud computing, applying leading technical capabilities into actual business.

The investment of Ping An Technology will bring financial support and resources in the fields of banking, commercial insurance, medical insurance, artificial intelligence, based on the advantages of Ping An Group and and incorporate Ping An Lenovo WIT120 into the collaborative development of Ping An Technology, creating great value for the expansion and rapid growth.

Founded in 2016, Ping An Lenovo WIT120 is committed to reconfiguring the hospital's core business system with the latest cloud computing development system, energizing WIT120 reform. Since 2013, it has been incubating within Lenovo. By 2014, it fully developed the medical information industry. In 2016, it has been independently operated, becoming a fast-growing provider for integrated medical solutions and gaining the recognition and favor of the capital market.

Jessica Tan, CEO of Ping An Group and president of Ping An Lenovo WIT120, said that Ping An Lenovo WIT120 has extensive business layout, in-depth products and customer accumulation in the field of medical informationization. The strategic holding of Ping An will fully play its profound accumulation in medical information, promoting the leap-forward development of Ping An Lenovo WIT120.

He Zhiqiang, senior vice president of Lenovo Group and president of Lenovo Venture Capital Group, said that as the two giants in the fields of technology and finance, Lenovo and Ping An form ties with each other in WIT120 which will play their respective advantages to achieve the synergy effect that one plus one is greater than two and believed that Ping An Lenovo WIT120 will own more powerful original power and vitality.

Ericson Chan, CEO of Ping An Technology said that Ping An Technology has been focusing on R&D and application of artificial intelligence, cloud computing and other technical fields. For medical solutions, it has integrated end-to-end management platforms such as intelligent disease prediction, intelligent image screening and intelligent assisted diagnosis and treatment. It is expected that this cooperation will further improve the service quality of both parties.

Under the background of the construction of "Healthy China", national and local policies are actively pushing new medical reform measures such as grading medical treatment, and propose to accelerate the construction of medical associations, promote the development of "Internet + medical health", and accelerate the completion of data integration and information construction. More and more large public hospitals pay more attention to the investment in medical information and tap the value of medical big data to improve operational efficiency and control medical costs. WIT120 is becoming a new industrial boom.

WIT120 is an irresistible trend. That Ping An Lenovo WIT120 is held by Ping An Technology represents that Ping An shows a strong driving force in the field of medical technology, promoting it to provide more complete solutions to patients and medical institutions on the basis of finance and technology. In the future, it will take dual advantages of both Ping An and Lenovo to deliver innovative solutions for more medical institutions.

About Ping An Technology

Ping An Technology is the core technology arm of Ping An Group, using AI, cloud and other cutting-edge technologies to develop and operate mission-critical platforms and services that support financial services, medical health, automotive services, real estate services, and smart cities. With "Cloud Infinity" as its value proposition, Ping An Technology is actively practicing the corporate philosophy of "Professionalism makes life simpler", and is determined to become a global leading "AI+Cloud" company.

Ping An Technology, as the high-tech kernel of the Ping An Group, has applied its technology solutions to more than 400 scenarios, incubating new technology-driven businesses and helping build ecological closed-loop. Ping An Cloud has formed full-stack service capabilities from IDC infrastructure to SaaS. Through Ping An Cloud, the ecological platform has been built to serve 500 million users and enabled a better future with technology globally.

SOURCE Ping An Technology