China based Yiling Pharmaceuticals to invest $20Mn on Israel based medical grade smart clothing company- HealthWatch. Out of $20Mn Yiling Pharmaceuticals will use $15Mn to hold 23% share in HealthWatch and $5Mn for gaining Chinese distribution rights.HealthWatch was successful to achieve the first ever CE/FDA-approval for medical device garment that continuously monitors ECG and wider vital signs with much more precision. The data is exchanged in real time to smartphone or remote medical professional for review and action from the garment.
HealthWatch is an Israeli healthcare company that developed the world’s first medical-grade smart clothing technology. It was founded in 2010 and is headquartered in St. Kfar-Saba, Israel.
Its patented textile technology has been FDA/CE-approved and is machine-washable garment that monitors ECG and other vital-sign signals with precision. The medical data from the person is transmitted to a smartphone application and to the Cloud, where physicians can remotely track patients’ conditions.
Yiling Pharmaceutical also called as Shijiazhuang Yiling Pharmaceutical was founded in 1992 by Wu Yiling and is headquartered in Shijiazhuang Tianshan, China.
Yiling Pharmaceutical is engaged in the research and development, manufacturing, and sale of medicines primarily in China. It produces modern medicine, Western medicine and biological medicine. Some examples of its products range are herb slices, plant extracts, Sea buck thorn fruit powder, fruit oil, and seed oil, ginger, green tea, grape seed, apple, soybean extracts and many more.