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2022 has seen the decline in investment from major Chinese internet giants. Public information shows that Tencent has concluded more than 80 external agreements so far this year, compared to 210 last year. Not only has the quantity decreased, but the projects receiving investments from the Shenzhen-based company are now more tied to the “hard tech” sectors. Among these agreements, Tencent made six major moves in the medical field this year, investing in several medical device companies.

One of TencentThis year’s biggest medical deals were its stake in Xunjie Medical, which focuses on automated external defibrillators (AEDs). On September 19, Yuyue Medical, the parent company of Xunjie Medical, announced plans to introduce an affiliate company of Tencent as a strategic investor, through capital increase and capital enlargement. According to the announcement, Tencent intends to subscribe for 19.5% of shares of Xunjie Medical in cash, becoming the company’s second largest shareholder, with a total amount of 291 million yuan (41.5 million dollars).

Chinese media VBdate found this Tencent has deeply participated in the medical industry chain. Prior to 2018, the company primarily invested in internet-based medical ventures, preferring early ventures and later continued holdings. The company invested in Waterdrop Mutual in its round funding and Medbanks in its round B funding. Through mergers and acquisitions, Tencent can strengthen its competitiveness in the field of Internet health, and it can also guarantee that it will not fall behind in the reform of Internet health.

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In 2019, Tencent Chairman Martin Lau said the investment has become Tencentbasic strategy. Subsequently, the company has made investments in several key areas of the medical industry, including accurate diagnostics, drug research and development, medical digitization, high-value medical devices, synthetic biology and management. chronic diseases. It now invests in cutting-edge technology and also focuses on weak spots in China’s medical system, such as the rehabilitation and pension industry and the AED field.

One thing that has not changed with TencentThe investment style of is the high level of capital. In 2018, Tencent invested in more than 35 companies in the medical field, with a total investment of more than 20 billion yuan. Tencent has been on the rise again in recent investments, with the amount involved in financing generally being several hundred million yuan.

Tencent has also taken some steps in the medical field outside of simple investment. In terms of fundamental research, it has set up a new Sustainable Social Value Organization (SSV) to integrate corporate social responsibility with public welfare charity. It also cooperates with the China Association for Science and Technology. In addition, Tencent will invest 10 billion yuan in the “New Cornerstone Investigator Project” to boost basic research over the next decade.

Leveraging AI technology that Tencent excels, it has carried out extensive cooperation to develop “AI + pathology” products alongside the medical company Mindray. In March this year, the “fully automatic peripheral blood cell morphology analyzer” jointly developed by Mindray and Tencent AI Lab has officially launched a special examination procedure for innovative medical devices within the China National Medical Products Administration. Additionally, within the Internet medical industry, Johnson & Johnson China’s personal healthcare division announced a global strategic partnership with Tencent in March of this year.

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