Wearables company receives $20 million investment from Chinese investors

By

Kate Dingwall

Published
Jan 10, 2017

HealthWatch, an Israeli technology company focused on advanced wearables with medical functionality, has received backing by Yiling Pharmaceuticals. The Chinese pharmaceutical giant will now own a quarter of the company in shares, as well as the distribution rights for the Chinese market.

HealthWatch’s CEO Guy Neev told the press "We are excited for Yiling to join HealthWatch as both an investor and Chinese strategic partner. This significant investment will support our commitment in setting a new standard in homecare remote monitoring, by improving the quality, convenience and digital health capabilities of wearable technology.” 

HealthWatch has risen to the top of the medical wearables field after creating the only wearable ECG and wider vital sign monitor that has been approved by the CFDA, as well as a host of other medical-grade smart clothing.

The iOT company creates machine-washable garments made of technology-integrated fabrics. The garments connect remotely to smartphones to let the wearer process his or own medical data, such as the wearer's heart rates, breathing pace, lack of movement, and anycardiac irregularities, right from their phone. The biosensory fabric HealthWatch creates has the possibility of being adapted to an array of medical and non-medical uses.

Thanks to this new backing, HealthWatch will be able to step into the Chinese market and expand its global footprint. $5 million of the $20 million dollar investment will go towards purchasing the Chinese distribution rights for HealthWatch’s product offerings. Yiling will use the remaining $15 million will be used to purchase 23% of the company.