Chinese firm invests $20mn in HealthWatch
Israel based developer of medical grade smart clothing technology HealthWatch has received an investment of $20 million from Chinese company Yiling Pharmaceuticals. Of the $20 million, $15 million will be used to buy a 23 per cent stake in HealthWatch and the rest will be spent in product commercialisation process and expedite entry into the Chinese market.
According to HealthWatch, it has developed the only CE/FDA-approved medical device garment that continuously monitors ECG and wider vital signs, to a quality before not achievable outside the hospital setting.
The wearer's processed medical data is sent in real-time to a smartphone and/or remote medical professional for review and action.
Based on patented textile-sensing technology, HealthWatch's comfortable, machine-washable garments are intended to help wearers stay healthy and gain peace of mind, without affecting their lifestyle. (AR)
Fibre2Fashion News Desk – India