Huiyihuiying completes multi-hundred million RMB financing, CEC Capital Group serves as exclusive financial advisor

Huiyihuiying (the “Company”) a leader in medical imaging artificial intelligence, announced that it has successfully completed its latest round (Series C2) of hundreds of millions of RMB in financing, one of the largest financings in the healthcare AI industry in China. This round of financing included new investors Shougang Fund, Sinopharm Junbai, and Kunjian Xintai, and existing shareholders including CDH Investments, Datai Capital, and Lanchi Ventures.

CEC Capital Group served as the exclusive financial advisor of Huiyihuiying in this transaction.

Proceeds from the fundraising will be used for product development, business development, and sales channel and team expansion.

In 2018, Huiyihuiying also received a strategic investment from Intel Capital and Singular Energy Investment. It was the first healthcare AI company invested into by these two funds in China. To date, Huiyihuiying is the only healthcare AI company that has received investment from three global Fortune 500 giants.

Based in Beijing Zhongguancun Dongsheng Science and Technology Park since 2015, Huiyihuiying began with a focus on smart medical imaging, and explored integrating the use of AI algorithm models and technology. Over time, it has developed an AI-based big data platform to leverage scientific research into the clinical setting. The data platform it has developed is a closed-loop platform, and its products have been used in more than 1,000 medical institutions around the world.

Huiyihuiying’s AI medical imaging ecosystem continues to gradually grow. Driven by the rapid development of applications for its imaging platform, Huiyihuiying has been able to deploy its technology in more than 50 countries and regions around the world and has become one of the leading players in the AI medical imaging industry.

Leveraging core capabilities in image-based deep learning and a number of patented technologies in cloud computing, big data, and AI, Huiyihuiying currently provides several products including: the NovaCloud® intelligent imaging cloud platform, the Dr. Turing® AI-assisted diagnosis platform, and the RadCloud® big data AI platform. These three major product lines make medical imaging digital, mobile, and intelligent, and complete the closed loop of screening, diagnosis, and treatment decision support.

In terms of AI applications, it mainly focuses on the dimensions of “disease + course”, and supports: DR fracture, DR tuberculosis, CT pneumonia, CT pulmonary nodules, CT liver cancer, CT aortic dissection, and CT abdominal aorta; a variety of AI-assisted screening and diagnosis software offerings for tumors, MRI prostate cancer, MRI breast cancer, MRI brain tumors and breast mammography; and more than 20 additional application currently in incubation. DR fractures, DR tuberculosis, CT pulmonary nodules are currently applying for Class III domestic medical device registration and certification.

In 2020, with the global Covid-19 pandemic raging, medical workers in various countries around the world have chosen to work with Huiyihuiying to leverage AI technology to deal with the impact of the epidemic on their medical systems. Huiyihuiying’s Covid-19 AI-assisted screening system has been used by more than 100 hospitals in more than 50 countries and regions around the world. Through AI-assisted CT image recognition and AI-assisted clinical decision-making, it has effectively allowed medical institutions in many countries to use AI technology to make up for a severe shortage of healthcare workers with diagnostic imaging expertise.