American venture capital firm GreyBird Ventures signed an agreement with Chinese med-tech company JF Healthcare on Monday, pledging an investment of 5 million U.S. dollars to help the company develop intelligent technologies for better diagnosis at the community level.
It is GreyBird Ventures's first investment project in the Asia-Pacific region, said Tom Miller, the firm's founder, at the signing ceremony held in Nanchang, capital of east China's Jiangxi Province.
"GreyBird Ventures decided to invest in our company after four years of evaluation," said Wu Wenhui, founder of JF Healthcare.
Wu added that the investment project shows JF Healthcare has gained recognition in the industry and the two companies will join hands to bring intelligent healthcare technologies to the world.
Founded in 2015 and based in Nanchang, JF Healthcare has been dedicated to helping China's community-level hospitals improve medical services, particularly in medical image-based diagnosis, with its advanced technologies including AI and telemedicine.
So far, it has cooperated with more than 1,000 community-level hospitals across China.