Zepp Health Corp. (NYSE: ZEPP), and neuro42, Inc. today announced that Zepp Health is investing $2.4 million to lead the $6.5 million Series A funding round for the development of MRI and robotics technology that allows physicians to diagnose brain injury in acute settings and treat neurological diseases under live imaging.
neuro42 has an exclusive worldwide license of the low-field MR imaging technology developed in Dr. Lawrence Wald's lab at the Athinoula A. Martinos Center for Biomedical Imaging, a world-renowned magnetic resonance research center that is affiliated with Massachusetts General Hospital, Massachusetts Institute of Technology and Harvard Medical School.
"We are pleased to have Zepp Health's support as we revolutionize the way physicians identify and treat neurological diseases and injuries. We believe this partnership will create a compelling and sustainable value for our shareholders," said Ms. Abhita Batra, Co-Founder and CSO of neuro42.
neuro42 represents Zepp Health's third investment in new companies developing disruptive medical imaging technologies. neuro42 is uniquely positioned to address a significantly unmet healthcare need and creates a well-defined and defensible competitive edge for its portable MRI technology. Zepp Health's investment in neuro42 comes after Zepp's recent portfolio company, Promaxo, which is focused on developing office based MRI technology for guiding prostate interventions, recently received a FDA clearance.
"Zepp Health is focused on connecting health with technology, and neuro42 is disrupting the location, applications and costs of medical imaging, which will generate tremendous benefits to healthcare systems worldwide," said Zepp Health's Chief Operating Officer Mike Yeung.
Added Zepp's Vice President of Business and Corporate Development, Tim Houchin, "Zepp Health has become 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 neuro42, Inc.
neuro42, Inc. is a San Francisco, CA based medical technology company focused on diagnostic imaging and image guided surgical interventions of the brain. Founded by a team of successful entrepreneurs and healthcare innovators, the Company is developing and commercializing a portable, intraoperative MR, AI and robotic platform that allows easy access to MR imaging for screening, diagnosis and interventions of neurological diseases. Backed by over 30 patents, neuro42's platform is poised to enhance patient and physician experience with its novel, easy-to-use and portable configuration. To learn more about neuro42, visit neuro42.ai.
About Zepp Health Corporation (NYSE: ZEPP)
Zepp Health changed its name from Huami Corp. (HMI) on February 25, 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. The company's mission continues to be connecting health with technology. Since its inception in 2013, Zepp Health has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, 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, shipping 46 million units in 2020, including 33 million smart watches. Zepp Health Corp. is based in Hefei, China, with U.S. operations, Zepp Health USA, based in Cupertino, Calif.
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