Aden Technology, an AI medical big data company, recently announced the completion of RMB 200 million Series B+ financing. This round of funding was led by Haier Capital, followed by TS Capital, existingshareholders Sinovation Ventures, and Eastern Bell Capital. The funding will be used for market expansion, talent acquisition, and branddevelopment.
The company just received the Series B financing of RMB200 million led by Eastern Bell Capital and jointly participated in by Sinovation Ventures and Legend Star. Completing two rounds of financing in such a short time shows investors'recognition of its technology.
RichardYANG, Partner of Sinovation Ventures, said “We had paid close attention to the trend of China's value-orientedmedical reform and firmly supported Aden Technology's team in this field since 2018. We have fortunately witnessed the relevant policies being announced and implemented, and the rapid growth of Aden Technology. It has associated professional levels of medical services with their commercial values and solved the problem of “how to manage medical operations pricing” through the software SaaS by applying AI and big data. Aden Technology has helped patients, medical institutions, and regulators improve transparency, efficiency, and fairness in the medical services ecosystem. We hope that the company will be able to fulfill its mission by letting the world benefit from science and technology and Aden will make every effort to contribute to and develop the industry.”
Aden Technology, founded in 2016, focuses on improvingdisease classification and case management processes and applying big data and artificial intelligence in the medical industry and has since built a comprehensive DRG/DIP management system that spans multiple departments in the hospital. Nearly 4,000 secondary and tertiary medical institutions have used the company's big data services.
With the introduction of a new round of financing, Aden Technology will seizethe development opportunity in medical reform, actively explore the in-depth integration of healthcare, AI, big data, and other technologies, and promote the sustained high-quality development of the medical industry.
Product Services: High efficiency of one-clickintegration based on a data-driven platform
Influenced by the medical reform policies, AI qualitycontrol of medical records has become an indispensable service system for hospitals. “Nosological Knowledge Map” created by Aden Technology has been promoted in the market for 6 years, and it has now become the best AI quality control tool with the largest market share. On this basis, the company has launched “Xingcan Engine”, a DRG & DIP collaborative management platform equipped with a data-driven SaaS system. It is not only to meet the needs of both the medical insurance payment and thecollaborative work among the multi departments but also to efficiently and safely integrate data flows with one click within hospitals and ensure the consistency of the information feedback. Based on the core medical data set,
the engine will conduct multi-dimensional index analyses for hospitals and carry out the refined management.
Technology Services:Quick response within 12 hours generates a positive AI cycle
Aden Technology has invested a lot in technology researchand development. From electronic medical records to hospital information systems, the team has engaged in 90% of the medical information systems in the market, built hospital ecosystems at every link, and improved the efficiency of the entire medical system. The interface independently developed by Aden Technology has greatly improved the deployment efficiency, and the product delivery of a single hospital can be completed from scratch within 48 hours at best. At the same time, 50% of the major function upgrades can be deployed to all the hospitals’ customer systems within 12 hours. Based on the real-time feedback of hospitals, the company can continue to carry out the positive AI cycle and update its products more quickly and efficiently.
Brand Services: In-depth services ofregional support centers for hospitals
To constantly enhance the depth of service, the companyhas launched a service assistance plan for regional benchmark hospitals this year. Within this year, regional support centers with services like “Aden Medical Insurance” and “Aden Quality Control” will be set up in 9 benchmark hospitals nationwide to provide support from the aspects of technology, consultation, training, etc., enhance the regional influence of these hospitals and achieve the extensive brand effect by gaining experiences from key points and promoting the experiences. Meanwhile, the company will help hospitals increase their management views and state-owned hospitals ensure their high-quality development by introducing intellectual resources from well-known academic institutions and thereby upgrading the regional overall medical service level. In addition, the company has set up Aden Academy, aknowledge service platform, and made arrangements for internal lecturers and external industry experts to provide systematic, and hospital-wide DRG/DIP skill training to meet the self-improvement needs of the frontline health workers.
ZHU Wei, Founder of AdenTechnology, said “the company had always adhered to its corporatevision that "Everyone has the rightto enjoy healthcare” and hoped that affordable, fair, and equitable medicalcare would be available to all”. Therefore,the company started to devote itself to DRG as early as 2016. It is one of the enterprises that first paid close attention to the field in China.
ZHU Wei also said that “Aden Technology has completed building its core competenceandhas taken the lead in the DRG field. We will keep exploringDRG not only to solve the problem of the short-term hospitalization cost, which accounted for 70% of the total medical expenses, but also to join hands with partners in the industry and jointly focus on the other areas of China's medical system where fairness and efficiency need to be improved (such as outpatient service layout, chronic disease rehabilitation, emergency treatment and medical communities, and exploring and promoting pediatric DRG, etc