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China : XIAOMI Ventures' USD 25 million investment in Chinese healthcare electronics maker ANDON HEALTH [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Venture capital division of Chinese smartphone maker Xiaomi has agreed investment of USD 25 million in Chinese healthcare electronics maker Andon Health. Andon Health will be setting up a new entity named iHealth , based in the Cayman Islands, and plans to inject its related global businesses in electronic and smart health device division iHealth into the new platform. In iHealth which will develop health products and services to be applied to Xiaomi's e-commerce and cloud platforms, 20 percent stake will be under the ownership of Xiaomi Ventures. Under the iHealth brand, Andon Health plans to restructure its overseas operation, including Hong Kong, US and France, with the parent company holding a 70 percent stake. iHealth and Xiaomi will be developing mobile health technology services in areas like e-commerce and cloud computing services. As per the terms of the agreement, Xiaomi has assured not to invest in Andon Health's competitors over the next two years. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |