OAKLAND, Calif. and CUPERTINO, Calif., April 28, 2022 (GLOBE NEWSWIRE) -- Promaxo, Inc. (Promaxo), the medical imaging, robotics, and AI technology company, and Zepp Health (NYSE: ZEPP), a leading global developer of smart health technology, today announced additional investments in Promaxo. Promaxo and Zepp Health will also continue to deepen their commercial partnership by sharing artificial intelligence resources, setting up new product manufacturing opportunities, and seeking China Food and Drug Administration (CFDA) regulatory approval.
“We are pleased to have strategic investors, such as Zepp Health, as we commercialize our truly open MRI system to the broader physician office community,” said Dr. Amit Vohra, Founder and CEO of Promaxo. “Zepp Health’s financial support is a welcome contribution as we execute on our vision and advance MR guided diagnosis and treatment options to our patients and clinical partners.”
Promaxo plans to use the funds to accelerate commercialization of its artificial intelligence in imaging and image-based interventions. Promaxo’s patient-centric approach aims to provide patients with cutting-edge technology as it works to expand the frontiers of knowledge in the fields of medical imaging, robotics, and artificial intelligence.
“Zepp Health's mission is to connect health with technology, and we see tremendous opportunity in imaging as we expand our footprint in the health technology space. Companies such as Promaxo are disrupting the locations, applications, and costs of medical imaging. Zepp Health has resources, such as miniaturization engineering expertise, that can help accelerate Promaxo’s growth and success, and we look forward to what our partnership can develop,” said Zepp Health COO Mike Yeung.
Zepp Health's Vice President of Business and Corporate Development, Tim Houchin, added, "Zepp Health has become a global leader in consumer health technology. These partnerships with diagnostic healthcare technologies present new financial and market opportunities for our business to expand into industrial medical technology."
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 200 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 diagnosis and interventions. The Company has formed numerous long-term and strategic partnerships with investor groups and corporations as it drives commercialization of the Promaxo MRI system.
About Zepp Health Corporation
Zepp Health is a leading global developer of smart health technology, whose mission is to connect health with technology. Since its inception in 2013, Zepp Health has developed a platform of proprietary technology including AI chips, biometric sensors, data algorithms and operating systems, which drive a broadening line of smart health devices for consumers, data analytics services for population health, and industrial medical technology for diagnostics and care delivery. Zepp Health is one of the largest global developers of smart wearable health and consumer fitness devices.
For Zepp Health
Zepp Health Media:
Hayward Wong, hayward.wong@zepp.com
Zepp Health Investors:
Zepp Health Corporation
Grace Zhang, zhangyujia@zepp.com
For Promaxo
Promaxo Investors:
Gilmartin Group
Vivian Cervantes
e: IR@promaxo.com
