iHealth Raises $25 Million to Fuel Growth and Global Market Share

Venture Arm of One of China's Largest Electronics Companies Makes First Investment in Mobile Healthcare

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Sep 19, 2014, 03:37 ET

MOUNTAIN VIEW, Calif., Sept. 19, 2014 /PRNewswire/ --Today, iHealth Lab Inc. announced it has secured $25 million in capital from Xiaomi Ventures, Ltd. for its first institutional round of funding. The strategic investment will be used to continue expanding iHealth's global reach, accelerate growth and innovation, and invest in additional sales and marketing resources. As part of the investment, Xiaomi Ventures will join iHealth's board of directors, bringing added expertise in the areas of cloud infrastructure and ecommerce.

"We are very pleased to have Xiaomi Ventures as a partner in our business," said Yi Liu, chairman of Andon Health. "This investment and partnership should help to extend our global leadership in the mobile health category by providing new capabilities to accelerate growth and new user acquisition."

Launched in the US in 2010 as a subsidiary of medical device manufacturing company Andon Health Co Ltd (XSHE), iHealth has pioneered the personal mobile health revolution with many industry-leading products. In 2011, iHealth launched the industry's first mobile-app enabled blood pressure device. In 2012, it launched the first wireless blood pressure monitor and in 2013, the first wireless blood glucose monitor. iHealth was the first health device to be carried in Apple retail stores and is also sold in top retailers including Walgreens, Best Buy and Amazon as well as at www.ihealthlabs.com.

iHealth currently markets their mobile health solutions globally with operations in North America, Europe and Asia. Millions of consumers utilize iHealth's devices and proprietary mobile apps to lead healthier lives by helping to manage conditions like high blood pressure and diabetes. iHealth's FDA approved devices measure, track and share various health vitals, including: blood glucose, blood pressure, heart rate, weight, body fat, lean body mass, activity, sleep efficiency and oxygen saturation.

Concurrent with the financing, iHealth Lab, Inc. will be formed into a new entity called iHealth, Inc., a subsidiary of Andon Health. The existing business will be organized into three operating divisions – The Americas (based in Mountain View, CA), Europe (based in Paris, France) and Asia Pacific (based in Hong Kong). Existing iHealth personnel, technology, patents and assets will be integrated into the new company.

iHealth, Inc. will manage all aspects of the businesses, including sales, R&D and marketing. Andon Health will continue to manufacture and supply the hardware for their solutions. Further financial terms of this deal have not been disclosed.

About iHealth Lab, Inc.
iHealth is dedicated to helping people lead healthier lives. They are a leader in the design and manufacture of consumer-friendly, mobile personal healthcare products that are connected through the cloud. The company focuses on delivering high quality products that are easy-to-use, making it simple for consumers to accurately measure, track and share a full range of health vitals. By connecting the data through the cloud, consumers are able to see a more comprehensive view of their vitals, easily share data with health care professionals or caregivers and take an active role in managing their health. Visit www.ihealthlabs.com to learn more.

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SOURCE iHealth Lab, Inc.