London-based digital health firm Babylon is reporting seeking to build new partnerships with Chinese firms to expand its business in China. The startup aims to enhance and improve its delivery of healthcare solutions to its Chinese customers.
Babylon CEO and founder, Ali Parsa, mentioned in a statement that the company wants to bring its artificial intelligence-driven healthcare solutions to China. To achieve this goal, the company wants to form new partnerships with Chinese companies to further enhance accessibility to its products.
Parsa stated that its goals are in line with the country's Healthy China 2030 initiative, which hopes to bring world-class quality healthcare to citizens across the country.
The executive explained that Babylon along with other healthcare service providers has expressed interest in supporting the Chinese government's drive to improve quality healthcare access to its citizens. Partnering with Chinese firms will ensure that Babylon will be able to meet the country's unique healthcare needs by tapping local entities that understand local trends and requirements.
China has so far implemented measures that further open up its markets to global healthcare providers. This has attracted global leaders to the country, which will ultimately benefit not just the foreign entities but also the country's citizens and economy.
The British startup, which was founded in 2013, mainly relies on the integration of advanced technologies and its medical expertise to bring high-quality healthcare services to its customers worldwide. Babylon's goal is to provide people with 24/7 access to affordable healthcare services through the use of technologies such as artificial intelligence and high-speed communication networks.
Babylon currently has more than 3.6 million users for its online healthcare platform and its app has more than 1.5 million downloads. With China's recent plans of imposing reforms to accelerate its adoption of smart healthcare systems, Babylon has also accelerated its efforts in expanding in the Asian market.
Last year, Babylon managed to forge a partnership with Chinese tech giant Tencent, which helped it launch its online platform on the Chinese firms' WeChat social media platform. Babylon revealed that it still has a lot of plans in store for the Chinese market over the next years and that it may be launching new platforms and services once it finds the right partners.
Despite the current geopolitical situation and recent economic slowdown, Babylon has remained positive on the country's economic prospects. Parsa stated that the company is optimistic about its growth potential in China for both the short term and the long term.
