Huami Corp Partners with Promaxo for Technology Collaboration and Integration, and Geographic Expansion
December 03 2020 - 8:40AM
Business Wire
Huami Corp. (NYSE: HMI) and Promaxo, Inc. today announced a
partnership for joint technology, commercialization and market
development opportunities. Huami is a global provider of smart
consumer health and industrial health technologies. Promaxo is
pioneering MRI technology that pushes the boundaries of medical
imaging by encapsulating high-quality MR imaging at low magnetic
field into a small form-factor, with an initial market emphasis on
urology applications.
The companies plan to work together on joint engineering for the
application of artificial intelligence, product integration
opportunities and contract manufacturing. Huami will support
commercialization of Promaxo products in China and globally.
Promaxo expects to leverage Huami’s wearable technology to explore
potential improvements in pre- and post-treatment patient health
and behavior. Huami is also beginning due diligence for potential
investment in Promaxo.
“Huami has developed significant expertise in A.I.,
miniaturization engineering and manufacturing, and analysis of
individual health data, which we believe can be of value to
Promaxo,” said Wang Huang, Chairman and CEO of Huami. “Our
company’s mission is to connect health with technology, and we are
expanding the industrial side of our business and looking for new
ways to connect healthcare consumers and providers with new
diagnostic and treatment technologies.”
“Partnering with Huami provides new opportunities for Promaxo to
leverage its technical innovation and accelerate market
penetration,” said Amit Vohra, President and CEO of Promaxo. “We
have established a number of wide-ranging initiatives, and we
believe there are significant opportunities and benefits that can
come from this partnership.”
“In 2020, Huami has undertaken a more proactive stance on
partnerships to leverage our technology, our increasingly global
reach and our financial resources to create additional growth
opportunities,” added Tim Houchin, Huami’s Vice President of
Business and Corporate Development. “We are excited to partner with
such a promising innovator and disruptor as Promaxo.”
About Huami Corporation
Huami’s mission is to connect health with technology. Since its
inception in 2013, Huami has developed a platform of proprietary
technology including AI chips, biometric sensors, and data
algorithms, which drive a broadening line of smart health products
for consumers, and analytics services for industry. In 2019, Huami
shipped 36.6 million units of smart watches and fitness bands,
including its own Amazfit brand, and products developed and
manufactured for Xiaomi, comprising 23% of global category
shipments1. Huami Corporation is based in Hefei, China, with U.S.
operations, Huami-USA, based in Cupertino, Calif. For more
information, please visit
https://www.huami.com/investor/pages/company-profile.
1 IDC, Correcting and Replacing Shipments of Wearable Devices,
3/10/20
About Promaxo, Inc.
Promaxo was founded by a team of entrepreneurs and healthcare
innovators to develop a minimally-invasive and patient-centric MRI
and robotic platform. Based in Oakland, California, and backed by
over 60 patents, the company’s mission is to improve lives through
state-of-the-art medical imaging, robotics, and AI capabilities.
With a compact and adaptable MRI, Promaxo is redefining the
standard of care by improving the quality and speed of patient
screening and interventions. The Company has formed numerous
long-term and strategic partnerships with investor groups as it
prepares to enter the US market.
To learn more about the technology behind the MRI system and its
scope, visit: Promaxo.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201203005261/en/
For Huami media inquiries: Lydia Huang,
lydia.huang@huami-usa.com, c: 407-800-5625
For Huami investors: U.S. - Brad Samson,
brad.samson@huami-usa.com, c: 714-955-3951 China – Grace Zhang,
zhangyujia@huami.com
For Promaxo media inquiries: Lindsey Hill,
lindseyhill@jiveprdigital.com, c: 951.566.6413
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