Infinity Equity, the Israel- and China-focussed private equity firm, is investing $8 million (€5.17 million) in China Medicine On-Line.
The company provides more than 80,000 clients in Shanghai and Nanjing with what it calls the “panic button” at their homes, which serves as an emergency hotline for them when they require any health-related advice urgently.
The investment was made out of the firm's $350 million I-China Fund, which invests in late-stage Israeli technology companies and in Chinese businesses that develop Israeli technologies, and will be used to expand the company’s services.
“This is the first medical oriented investment by the I-China Fund and one that we believe will have a significant impact,” Bella Ohana, life science director at Infinity Equity, said in a statement. “Infinity’s support of China Medicine On-Line, on top of its direct merit, is meant to serve as a bridge for Israeli technology companies interested in expanding into the Chinese market.”
China Medicine's online platform supports various medical device accessories and the company plans to improve it with additional portable medical products such as a respiratory unit, a blood pressure machine and other monitoring devices that have been developed in Israel. The enhanced platform will provide the call centre professionals with customers’ real time vital signs and allow them to advise customers effectively, Infinity said.
Infinity Equity has offices in Tel Aviv, Suzhou, Hong Kong and New York.