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| iHealth device--Courtesy of iHealth |
iHealth is not new to the mobile health device game. Launched in 2010, as a subsidiary of medical device manufacturer Andon Health--it markets several mobile-compatible devices including blood pressure and blood glucose monitors. In fact, iHealth had the first health device carried in Apple retail stores.
Now it's getting $25 million in financing from the venture arm of China's largest electronics company, Xiaomi Ventures. This marks the first institutional financing for iHealth. The company will remain a subsidiary of Andon Health, with three separate operating divisions based in Mountain View, CA, Paris and Hong Kong. It is officially changing its name from iHealth Lab to simply iHealth.
Xiaomi Ventures will join the iHealth board as part of the financing. This marks the first investment that the firm has made in a mobile healthcare company. iHealth will manage the business, but Andon Health will continue to manufacture and supply the hardware for its products. The financing will go to further innovation, as well as additional sales and marketing resources.
"We are very pleased to have Xiaomi Ventures as a partner in our business," said Yi Liu, chairman of Andon Health, in a statement. "This investment and partnership should help to extend our global leadership in the mobile health category by providing new capabilities to accelerate growth and new user acquisition."
iHealth has a number of FDA-approved devices to measure, track and share vital signs including blood glucose, blood pressure, heart rate, weight, body fat/lean body mass, activity, sleep efficiency and oxygen saturation.
The company's most recent launch was in June for iHealth Align, which it touted as the world's smallest blood glucose monitor. With a circumference the size of a quarter, the device plugs into a smartphone and connects to an app that can analyze, store and share the data. Pricing the iHealth Align at only $16.95, iHealth also is aggressive on test-strip pricing at $12.50 for 50 strips.
In May, iHealth partnered with Intel-GE Care Innovations to integrate iHealth vital sign monitoring products into the Care Innovations Connect Platform for remote care management to enable healthcare providers to monitor patients in their homes. Intel-GE Care Innovations is a joint venture between Intel and GE Healthcare to improve healthcare delivery and population engagement.
"Our partnership with iHealth underscores our commitment to connecting the care continuum to the home, which we firmly believe is necessary for improving health outcomes, especially for risk-bearing entities," Sean Slovenski, CEO of Intel-GE Care Innovations, said in a statement at the time. "iHealth Lab's FDA-cleared products make health monitoring easier and more cost-effective at home, which will help break down the traditional technology and cost barriers associated with remote care from the home."
- here is the release