China-based Andon Health Co., Ltd (SHE: 002432) announced a plan to obtain the 20% stake held by Best Ventures, formerly known as Xiaomi Ventures, in iHealth Inc. for USD 46 million. This transaction will make iHealth wholly controlled by Andon Health.
Background of iHealth
iHealth was a joint venture (JV) between Andon Health and Xiaomi Ventures established back in 2014. At that time, Xiaomi Ventures invested USD 25 million for the 20% ownership. As a partner of Xiaomi in the field of mobile health, iHealth has conducted in-depth cooperation in user experience, Xiaomi e-commerce, and cloud services to jointly build a mobile health cloud platform. For Andon Health, iHealth has made significant contributions to its business development, especially during the pandemic, playing a crucial role in its overseas expansion.-Fineline Info & Tech
