iHealth Lab has secured $25 million in capital from Xiaomi Ventures for its first institutional round of funding. The fresh cash will be used to continue expanding iHealth’s global reach, accelerate growth and innovation, and invest in additional sales and marketing resources. As part of the deal, Xiaomi Ventures will get a seat at iHealth’s board of directors.
“We are very pleased to have Xiaomi Ventures as a partner in our business,” said Yi Liu, chairman of Andon Health. “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.”
Also as part of the deal, iHealth Lab, Inc. will be formed into a new entity called iHealth, Inc., a subsidiary of Andon Health. The existing business will be organized into three operating divisions – The Americas (based in Mountain View, CA), Europe (based in Paris, France) and Asia Pacific (based in Hong Kong). Existing iHealth personnel, technology, patents and assets will be integrated into the new company.
iHealth, Inc. will manage all aspects of the businesses — including sales, R&D and marketing — while Andon Health will continue to manufacture and supply the hardware for their solutions. Further financial terms of this deal have not been disclosed.
Launched in the US in 2010 as a subsidiary of medical device manufacturing company Andon Health, iHealth has pioneered the personal mobile health revolution with many industry-leading products.Launched in the US in 2010 as a subsidiary of medical device manufacturing company Andon Health, iHealth has pioneered the personal mobile health revolution with many industry-leading products. In 2011, it launched the industry’s first mobile app enabled blood pressure device; a year later, they came up with the first wireless blood pressure monitor; and in 2013 – the first wireless blood glucose monitor. iHealth’s products were sold in Apple retail stores as well as top retailers such as Walgreens, Best Buy and Amazon.
iHealth’s FDA approved devices measure, track and share various health vitals, including blood glucose, blood pressure, heart rate, weight, body fat, lean body mass, activity, sleep efficiency and oxygen saturation.
Xiaomi on its end could use this new deal to enter the mHealth market in a big way. The company, which is often referred to as “Apple of China,” is known for its great Android smartphones. They have recently announced the ultra-affordable Mi Band sleep and activity tracker that should be available in China in the near future.