LinkDoc receives $151mn in Series D funding
Founded in 2014, Chinese medical data solution company, LinkDoc, has received $151mn in Series D funding. China Investment Corporation (CIC) has been named as an important investor of note, whilst other parties have not been disclosed.
Providing leading clinical structured data for China's oncology hospitals, as well as 500 hospitals in over 30 provinces, LinkDoc works to drive better decision making, standardise healthcare data and harness AI and Big Data to deliver personalised information to government bodies, insurers, pharmaceutical and research companies in over 30 provinces.
Developing proprietary machine learning and human language processing to structure millions of clinical EMR into research grade data, its image intelligent diagnosis system improves efficiency and reduces misdiagnosis or inaccuracies. Its cutting-edge image processing and machine learning tools have also worked to transform clinical processes.
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Through its medical database, LinkDoc supports the entire product life cycle, where it seeks to empower clinical staff by accelerating the clinical trial of new drugs and improve accessibility in the country.
China is second only to the US in gaining the title of the world’s largest market for drug development, the country spent up to $122.6bn in 2017 in this area.
A growing, aged population has furthered the need for the country to develop and make essential drugs accessible. To this end, China has recently worked transform its regulations to remain a key player in this competitive space as part of its Made in China initiative.
The pharmaceutical industry is undergoing a significant transformation. With the rise of traditional and non-traditional companies placing a significant financial interest, such as Walmart and Amazon, investors are continuing to look at the long-term opportunities the sector is yet to unlock.