H2U Secures Strategic Investment from InnoTherapy as Recognition from Seoul Clinical Laboratories (SCL) (2023-11-09)
H2U platform enters the South Korean healthcare sector, driving AI-powered data analytics to expand their digital health offerings
TAIPEI, Taiwan — H2U, Taiwan’s premier digital health brand, proudly announced another successful round of funding this year after receiving recognition from South Korean medical laboratory powerhouse SCL (Seoul Clinical Laboratories). The partnership is solidified through a strategic investment from InnoTherapy Inc. (KOSDAQ: 246960), an affiliated company under the SCL Group.
Representatives from South Korea, including InnoTherapy CEO Mr. Ho Chang Sun and SCL spokesperson and AhealthZ Co. CEO Mr. Joon Yun Kim, arrived in Taiwan to finalize the strategic investment agreement ahead of the official signing ceremony on November 8th. Under the agreement, InnoTherapy and H2U will provide healthcare services and products, and data platform development for corporate and individual healthcare management. AhealthZ and H2U will jointly import and export medical devices, reagents, and other SCL Group products, along with H2U’s nutritional, sports, and women’s care consumer goods.
The collaboration will see the partners assist H2U in introducing the H2U eXamine health assessment platform and the H2U pano personal digital health platform to the Korean healthcare industry while promoting their adoption within the SCL Group’s health examination facilities. In turn, H2U will support SCL in bringing outstanding Korean medical testing technology to Taiwan.
An SCL representative stated, “We plan to develop Korean digital healthcare services and platforms using H2U’s proven capabilities in Taiwan,” adding, “We also intend to develop artificial intelligence (AI) technology through the accumulation of data from both parties. InnoTherapy’s entry into Taiwan is expected to play a key role in expanding into the Chinese-speaking world and Southeast Asian markets.”
The SCL Group has an illustrious heritage and is celebrating 40 years of professional healthcare experience last week. The Group was initially established as the Hanaro Medical Foundation and was South Korea’s pioneering health examination institution. They also established the country’s first clinical diagnostic laboratory. Today, SCL’s services span 4,500 medical clinics around Korea, providing health checkups to 300,000 people annually. With an impressive database of 49 million specimen records, they boast the largest data volume in Korea, helping to analyze and deliver health assessments to users.
Under the SCL Group, InnoTherapy specializes in digital health research and advancing professional medical services, such as AI solutions (digital pathology/imaging diagnosis), personalized digital health management platforms, and remote treatment platforms. These align perfectly with H2U’s Taiwan-based digital health ecosystem.
“With over two million users each year, our H2U eXamine system commands a 70% market share of Taiwan’s health examination data. Hundreds of companies have adopted our H2U eXpert corporate health services. Using our AI-powered tech engine, we deliver insightful data, accurate health analysis information, and impactful health guidance for businesses and individuals,” said Saxon Chen, CEO of H2U.
Articulating his vision of the partnership, Saxon said, “Our holistic approach resonated with the Korean partners and sparked their strategic investments. Our platform forges a link with the Korean healthcare market, introducing digital health solutions through a seamless data-insight-service-data loop.”
“Looking ahead, we shall broaden and strengthen our international presence via strategic partnerships and utilizing SCL’s expansive footprints in Southeast and Northeast Asia. This includes diagnostic tests and health exam facilities in Indonesia and Mongolia,” Saxon added.
H2U’s most significant milestone this year is the integration of its six primary platforms. Data from over three million members in Everyday Health, Sports Note, iFit, H2U eXamine, and H2U eXpert are integrated into the H2U pano holistic health platform. The driving force of this endeavor is the ambition to dismantle data silos and offer all-round personalized health solutions using AI and technology. By embracing lifestyle medicine, H2U aspires to boost Taiwan’s health and wellness quotient through preventive care measures. H2U is planning entry into Taiwan’s capital market in the upcoming year with the vision of becoming Asia’s leading digital health unicorn.
InnoTherapy plans to combine H2U’s technology and operational experience with SCL’s established network to create a Korean-style digital healthcare platform. It is hoped that H2U’s previous platform development experience will ensure a smooth take-off in the South Korean market.
About H2U, Your Partner in Holistic Health and Lifestyle at www.h2u.ai
A Foxconn Group spin-off established in 2013, H2U is on a mission to harness technology and enhance public health, prolong healthy lifespans, and improve the overall quality of life. The H2U eXamine platform dominates 70% of Taiwan’s health examination data market and serves 2 million users annually. H2U eXpert delivers corporate health solutions to over five hundred companies. Their portfolio also includes Everyday Health, Taiwan’s top health media in terms of web traffic, alongside the fitness and weight management communities Sports Note and iFit. By introducing the digital health platform H2U pano, the company has positioned itself as a leading provider of holistic health services, addressing the health requirements of all age demographics while safeguarding their path to health. In 2023, the British Chamber of Commerce in Taipei (BCCT) acknowledged H2U’s remarkable efforts with the Innovation for Wellbeing Award.
About Seoul Clinical Laboratories (SCL)
Established in 1983, SCL is the largest testing and health examination group in South Korea. They were the first company in South Korea to receive College of American Pathologists (CAP) accreditation for their diagnostic facilities. With the most extensive biochemical immune total laboratory automation (TLA) system in Asia, SCL offers expansive specialized laboratory and clinical tests to over 4,500 medical institutions throughout South Korea. Their services include diagnostic laboratories, molecular diagnostics, functional medicine, diagnostic pathology, specialized chemical research, and genomic research.
About AhealthZ CO., Ltd.
AhealthZ offers specialized healthcare distribution services. They help businesses effectively fulfill services required by customers in the healthcare environment, such as medical devices, pharmaceuticals, clinical solutions, and setting up medical facilities. The company supplies more than 3,000 brand items to domestic and foreign hospitals, clinics, and clinical laboratories. As an integral part of the SCL family, AhealthZ is dedicated to upholding the same standard of excellence that has made SCL a pioneer in the field.
About InnoTherapy Inc. (KOSDAQ: 246960)
InnoTherapy is a medical device company providing medical hemostatic agents to address bleeding scenarios in diverse surgical contexts. With headquarters in Seoul, South Korea, the company leverages Bio-inspired Medical Materials (BiMM) technology and creates biomimetic molecular compounds by attaching adhesive phenolic functional groups to polymers. This allows better control of physical attributes like solubility and adhesion, fueling the development of enhanced medical products for hemostatic control, leakage management, and wound healing. The company has extended its research efforts into novel bio-inspired materials that could serve as delivery vessels for protein-based therapies, pushing the limits of existing gene and protein treatments.
