Huami Corp Invests $5 Million in Hyperfine Research D Round to Support Accelerated Application of Disruptive MRI Technology

Rhea-AI Summary

Huami Corp. (NYSE: HMI) has announced a $5 million investment in Hyperfine Research's funding round that closed on February 3, 2021. This investment aligns with Huami's strategy of integrating health and technology, particularly in medical imaging. Hyperfine's portable MRI system, Swoop, received FDA 510(K) clearance in August 2020, aiming to innovate patient evaluation locations and procedures. Huami's commitment to miniaturization in health technology supports its mission to enhance patient care and streamline medical processes.

Positive

• Huami's $5 million investment in Hyperfine Research aligns with its health technology mission.
• The partnership supports innovation in portable MRI systems, expanding access to imaging technology.
• Hyperfine's Swoop system has received FDA clearance, indicating regulatory approval and market readiness.

Negative

• None.

Huami Corp. (NYSE: HMI) today announced that it has invested $5 million in Hyperfine Research’s D round of funding, which closed on February 3, 2021. Huami’s mission is to connect health with technology, developing both consumer and industrial health technologies. The company believes its miniaturization engineering expertise dovetails with efforts to miniaturize medical imaging technology which can disrupt the locations, applications and costs of medical imaging. Hyperfine Research is pioneering MRI imaging with its portable Swoop system, which received FDA 510(K) clearance in August of 2020.

“In the same way that new depth and granularity of data from wearable devices has changed health population management, we see the miniaturization of imaging technology changing the places and speed at which clinicians can evaluate patients,” said Huami’s chief operating officer, Mike Yeung. “We are excited to participate with Hyperfine in support of their mission.”

About Huami Corporation

Huami’s mission is to connect health with technology. Since its inception in 2013, Huami has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, which drive a broadening line of smart health products for consumers, and analytics services for industry. In 2019, Huami shipped 36.6 million units of smart watches and fitness bands, including its own Amazfit brand, and products developed and manufactured for Xiaomi, comprising 23% of global category shipments¹. Huami Corporation is based in Hefei, China, with U.S. operations, Huami-USA, based in Cupertino, Calif. For more information, please visit https://www.huami.com/investor/pages/company-profile.

¹ IDC, Correcting and Replacing Shipments of Wearable Devices, 3/10/20

About Hyperfine Research: Hyperfine’s mission is to make MR imaging available to everyone. The Swoop™ Portable MR Imaging System is the result of a total rethink of MR’s potential in the healthcare landscape. What if MR imaging didn’t require a dedicated suite, extensive training or expensive upkeep? The wonders of high-field MRI can be used for the appropriate patients, and Swoop™ can be deployed at the point-of-care for everyone else. Hyperfine received market-ready FDA clearance for its portable MR imaging for the brain and head of patients of all ages in August 2020. Since its launch in the fall of 2020, Swoop has been honored repeatedly, as one of two finalists for the Best New Radiology Vendor of 2020 by Aunt Minnie, the winner of the American College of Emergency Physicians (ACEP) 2020 incubatED Medical Device Innovation Challenge, and with a Best Practices Product Innovation Award from Frost & Sullivan, and most recently as a 2021 Innovation Awards Honoree from CES. Hyperfine is part of 4Catalyzer, a health technology incubator with offices in CT, NY, CA and Taiwan. www.hyperfine.io.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005142/en/

FAQ

What is the significance of Huami's $5 million investment in Hyperfine Research for HMI stock?

The investment signifies Huami's commitment to enhancing health technology, which could positively impact its market position and stock performance.

How does the FDA clearance for Hyperfine's Swoop system affect Huami Corp's business?

FDA clearance opens new opportunities for Huami in medical imaging, potentially leading to increased revenue from technological advancements.

When did Huami announce its investment in Hyperfine Research?

Huami announced the investment on February 3, 2021.

What is Huami's investment strategy as per the recent press release?

Huami's investment strategy focuses on connecting health with technology, particularly through miniaturization in medical imaging.