Ping An Voyager Fund Leads investment in Airdoc, Boosting the Application of AI Healthtech

News provided by

Ping An Insurance (Group) Company of China, Ltd.

Jan 12, 2019, 20:00 ET

HONG KONG and SHANGHAI, Jan. 12, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or "the Group", HKEx: 2318; SSE: 601318) is delighted to announce that the Ping An Global Voyager Fund, has invested in AI medical solution company Airdoc in its B+ round of funding (Ping An has led the round along with CITIC). This investment aims to boost application of AI healthtech and bring the benefits of quality healthcare services to all.

Jonathan Larsen, Chief Innovation Office of Ping An Group, Chairman and CEO of Ping An Global Voyager Fund said: "This is an important investment for Ping An and the Global Voyager Fund. Airdoc brings world class AI-driven medical imaging analytical capabilities in multiple domain areas. There are many applications for their solutions within the Ping An health and financial services ecosystem, in China, regionally and internationally. We are excited to be working with such a high quality team both as an investor and a strategic partner."

Dr. Marco Huesch, managing director and Chief Medical Officer Ping An Global Voyager Fund said, "We are excited to partner with Airdoc and proud to co-lead the firm's Series B+ round. Airdoc's market leading medical AI retinal imaging technology offers consumers a fast, convenient and accurate screening service for more than two dozen important diseases, all available at multiple, retail check-up center locations in China."

The Ping An Global Voyager Fund, Ping An's $1Bn global corporate venture capital fund, was launched in May 2017 with a mandate to invest in fintech and healthtech businesses to accelerate Ping An's technology transformation. In recent years, Ping An has been building up its expertise in the fintech and healthcare-related areas. The Group invested US$7 billion in R&D in the past decade and expects to invest a total of Rmb100 billion (US$15 billion) in the coming ten years. The core technologies such as AI, blockchain and cloud computing have and will continue to empower the Group's five ecosystems -- financial services, health care, auto services, real estate services and smart city services. Through applying innovative technologies to these ecosystems, Ping An will be able to seamlessly engage with customers to offer simple, professional and relevant financial services to help them better their lives and to help Ping An growth its business.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered personal financial services group. With 182 million customers and 513 million Internet users, Ping An is one of the largest financial services companies in the world.

Ping An has two over-arching strategies 'pan financial assets' and 'pan healthcare', which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems in financial services, healthcare, auto services, real estate services and Smart City services. Our aim is to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai.

Ping An ranked 10th in Forbes' 2018 Global 2000, and it ranked 29th in Fortune Magazine's 2018 Global 500 Leading Companies. Ping An also ranked 43rd in 2018 WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands. For more information, please visit www.pingan.cn

About Ping An Global Voyager Fund

Ping An Global Voyager Fund is a $1bn Corporate Venture fund, whose role is to make investments in potential partner companies who share our vision of a data economy, can bring strategic value to Ping An Group, and who are interested to work with us in building a large scale franchise in China. The fund seeks to invest in the companies on growth stage in Fintech and Healthtech with a typical size between $10 million and $100 million.

About Airdoc

Airdoc is a high-tech company dedicated to improving the efficiency of medical services through artificial intelligence. It develops deep learning techniques based on massive data labeled by medical experts and provides intelligent services to assist doctors and benefit patients. Headquartered in Beijing, the company has R&D centers in Beijing, Shanghai and Seattle, with team members from front line technology companies such as Microsoft, Google and Samsung. In recent years, there have been many outstanding AI medical enterprises focusing on fundus retinopathy in China, and the advantage of Airdoc is that it can meet the complex needs of various scenes inside and outside the medical system and recognize nearly 30 kinds of common diseases.

For enquiries, please contact:

Gareth Hewett @ +852 68822027 or [email protected]

SOURCE Ping An Insurance (Group) Company of China, Ltd.