Huami Corporation (“Huami” or the “Company”) (NYSE: HMI), a biometric and activity data-driven company with significant expertise in smart wearable technology, today hosted an annual press conference in Beijing, focusing on strategies. During the press conference, Wang Huang, the Company’s Chairman and CEO, announced Huami’s corporate mission: Connect Health with Technology. Driven by this mission, Huami is committed to establishing a global healthcare ecosystem, while being the most trusted partner of its users. Mr. Huang also reviewed the Company’s 2019 achievements and provided his vision for 2020.
During the press conference, Mr. Huang announced a strategic partnership with AliveCor, Inc. (“AliveCor”), the leader in artificial intelligence (“AI”)-based personal ECG technology, and a provider of enterprise cardiology solutions with CE and FDA clearance. Also announced in the conference was a strategic memorandum with Peking University First Hospital to jointly promote heart health management programs.
For 2019, Mr. Huang emphasized three strategic focus areas for Huami, including smart wearable products, proprietary AI chip, and cloud-based services.
First, Huami has achieved strong smart product sales in 2019. As announced in the Company’s third quarter 2019 earnings release, for the first nine months of 2019, both total shipments and revenue increased by over 50% year-over-year.
In 2019, the Company witnessed strong growth for its Amazfit brand. The Amazfit product expanded to six product lines and 39 SKUs to meet the diversified needs of a wide customer base. The Company’s persistent investment in smart watch product line diversification has achieved an initial success. In the Double 11 shopping festival this year, Amazfit products ranked first in sales in the below RMB1,000 smart watch category in both JD and Tmall’s Double 11 sales event period respectively.
The second strategic area of focus is Huami’s proprietary AI chip, Huangshan-1, which is used in Huami’s flagship smart watch products. Huangshan-1 enabled 24X7 health monitoring functionality, and significantly improved the efficiency of atrial fibrillation detection by 200% compared with non-AI chips.
The third strategic focus area for Huami in 2019 was its cloud-based services. As the Company’s product shipment increases at a fast pace, Huami’s cloud-based service and infrastructure are rapidly accumulating biometric data. As of September 30, 2019, Huami had collected data sets encompassing 7 billion nights of sleep and 21.1 billion hours of heart rate monitoring. Huami also improved its data monitoring dimensions and accuracy, by detecting close to 70,000 atrial fibrillation initial screenings.
Leveraging the Company’s AI algorithms and dedicated healthcare team, Huami also introduced new VIP healthcare services this year. These services allow users to access to ECG readings and analysis, abnormal cardiac notification alerts and quarterly health reports, as well as numerous other tools that are part of various premium service packages.
At the press conference, Mr. Huang expounded upon Huami’s corporate mission: Connect Health with Technology. He also provided his long-term vision for the Company and his expectations going into 2020.
Healthcare has always been a focus for the Company since Huami was founded in 2013. From the Mi-Band 1, which had healthcare functionality such as step counting and sleep monitoring, to the cutting-edge AI chip Huangshan-1. According to a recent Morgan Stanley research report, the global health care market was estimated to be six times the size of the smartphone market. Mr. Huang believes smart watches are more than a simple duplication or replacement of smartphones; they are a much more powerful and revolutionary product, with wider healthcare functionalities that are not offered by smartphones.
In response to the recent smart watch launch by Xiaomi Corporation (“Xiaomi”), Mr. Huang commented that Huami will continue to maximize operational and strategic synergies with Xiaomi in order to achieve win-win results for both companies, while at the same time keeping Huami’s own financial health at the forefront of all cooperative agreements. He reiterated that “exclusivity” is not part of Huami’s strategic cooperation agreement with Xiaomi, and that the agreement with Xiaomi states the partnership as “most preferred” (as disclosed in the Company’s IPO prospectus filed with the SEC). The agreement between Huami and Xiaomi is one of mutual respect and offers both parties a choice to weigh pros and cons for engagement on a product by product basis. Mr. Huang stated his confidence that Huami will continue to be a significant member of Xiaomi’s ecosystem. Following the launch of Mi-Band 4 earlier this year which is the most successful Mi-Band launch in the history of the product line, and the recent Mi-Band 3i for India, Huami is currently working diligently on the Mi-Band 5.
Looking into 2020, Huami plans for mass production of the next generation AI chip Huangshan-2, which has already completed the initial design phase. Huangshan-2 will be more intelligent than its predecessor and enable more healthcare service functions to further differentiate our future smart watch products.
Huami strives to complement its product revenues with services and content revenues. The Company will continue to develop its cloud-based healthcare services through further cooperation with Peking University First Hospital and jointly promote heart health management programs, following the execution of a strategic memorandum.
Huami and Peking University First Hospital have previously collaborated on a clinical trial. The research results indicated that the accuracy of atrial fibrillation detection through ECG and PPG, using Huami smart wearables, has reached 94.76% and 93.27%, respectively, similar to the accuracy level of professional physicians. This demonstrated that people can manage their cardio health both effectively and remotely through the use of smart wearable devices.
Huami also plans to sell more hardware and services overseas. In October, Huami established a strategic partnership with AliveCor, a transforming cardiological care provider using deep learning. AliveCor’s ECG solution has received FDA approval and has been widely recognized clinically. At present, AliveCor and top medical institutions such as the Mayo Clinic and Cleveland Clinic are conducting extensive cooperative clinical research, algorithm development, and AI data training. This collaboration will explore the opportunity to deliver new high-performance ECG form factors to global markets.
In the upcoming CES event in Jan. 2020, Huami will also release new products and new product categories which will open up Huami’s rapid 2020 oversea marketing expansion and product release actions.
SOURCE Huami Corporation
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Healthcare Analytics Market Worth $84.2 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Estimates by Meticulous Research®
London, July 03, 2020 (GLOBE NEWSWIRE) — According to a new market research report “Healthcare Analytics Market by Type (Predictive, Prescriptive), Component (Hardware, Software, and Services), Delivery Mode (Cloud), Application (Clinical, RCM, Claims, Fraud, Risk, PHM), End user (Payer, Provider) and Geography- Global Forecast to 2027”, published by Meticulous Research®, the healthcare analytics market is expected to grow at a CAGR of 26% from 2020 to reach $84.2 billion by 2027.Download Free Sample Report Now @ https://www.meticulousresearch.com/request-sample-report/cp_id=3995 The healthcare analytics market is witnessing a consistent growth owing to the growing demand from population health management (PHM), need for redesigned EHRs with advanced analytics capabilities, growth in eHealth collaborative, growing investments by venture capitalists, increasing pressure to provide quality care and control healthcare costs, rising big data in healthcare, trend towards value-based care, improving HCIT infrastructure, and launch of COVID-19 specific analytics solutions. However, lack of data scientists/analytics skills, high price of analytics, and data integration and security challenges may hinder the growth of this market to some extent.The overall healthcare analytics market study presents historical market data in terms of values (2018 & 2019), estimated current data (2020), and forecasts for 2027 – by type (descriptive analytics, predictive analytics, and prescriptive analytics), component (services, software, and hardware), mode of delivery (on-premise, web-based, and cloud-based analytics models), application (financial analytics, clinical analytics, operational analytics & administrative analytics, and population health analytics), end-user (payers, providers, and Accountable Care Organizations (ACOs), and geography. The study also evaluates industry competitors and analyzes the market at a country level.Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=3995Based on type, the descriptive analytics segment is estimated to command the largest share of the overall healthcare analytics market in 2020. Descriptive analytics forms the base for the effective application of predictive or prescription analytics.Based on component, the services segment is estimated to hold the largest share of the overall healthcare analytics market in 2020. This is primarily attributed to growing demand for cloud-based analytics, recurring need for support services, and lack of IT skills in healthcare industry.Based on mode of delivery, the on-premise analytics segment is estimated to hold the largest share of the overall healthcare analytics market in 2020. This is mainly due to concerns related to patient data confidentiality and security on remotely managed servers.Based on application, the financial analytics segment is estimated to command the largest share of the overall healthcare analytics market in 2020. This is mainly attributed to the growing adoption of analytics by the healthcare providers to reduce hospital re-admissions, curtail growing healthcare costs, and be eligible for value-based reimbursements.Based on end-user, the payer analytics segment is estimated to hold the largest share of the overall healthcare analytics market in 2020. This is mainly attributed to stringent government norms and high focus on fraud prevention, launch of payer analytics specific solutions that optimize productivity and reduce costs, and growing traction for analytics among employer groups.The healthcare analytics market scope varies greatly across different continents. The reason for this lies in the rate of technological developments in different parts of the world. North America region is estimated to command the largest share of the global healthcare analytics market in 2020 and is expected to maintain its dominance throughout the forecast period. This region is also expected to grow at the highest CAGR during the forecast period. The large share of this region is mainly attributed to the significant adoption of analytics in the U.S. post the implementation of Affordable Care Act (ACA) and impact of on-going COVID-19 pandemic, easy availability of analytics solutions in this region, prominent venture capital investments in the U.S., and significant government focus on population health management and value-based care.Quick Buy – Healthcare Analytics Market Research Report: https://www.meticulousresearch.com/buy_now.php?pformat=80&vformat=253The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years. A majority of players in the healthcare analytics market are adopting key strategies such as strategic alliances, partnerships, collaborations, mergers and acquisitions, and new product/service developments to expand their product and service offerings, global footprint, and augment their market shares. For instance, in June 2020, SAS launched SAS Viya 4, an analytics tool for medical and healthcare sectors which is expected to be available in late 2020. The solution integrates artificial intelligence (AI) and analytics for improved decision-making. Similarly, in April 2020, Allscript’s business EPSi released a COVID-19 Planning Analytics tool that includes 5 independent analyses focused on answering the tough questions being asked by health system leaders. These include ICU capacity, financial burden of COVID-19, resumption of elective procedures, and cost-reduction.The global healthcare analytics market is highly fragmented and competitive in nature. Some of the leading players operating in the global healthcare analytics market are Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Health Catalyst (U.S.), IBM Corporation (U.S.), Inovalon (U.S.), McKesson Corporation (U.S.), MedeAnalytics, Inc. (U.S.), Microsoft Corporation (U.S.), NextHealth Technologies (U.S.), UnitedHealthcare Group (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), SCIOInspire, Corp. (U.S.), Tableau Software, Inc. (U.S.), TIBCO Software, Inc. (U.S.), Verscend Technologies, Inc. (U.S.), and VitreosHealth (U.S.), among others.To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/healthcare-analytics-market/Scope of the Report:Healthcare Analytics market, by Type Descriptive analyticsPredictive analyticsPrescriptive analytics Healthcare Analytics Market, by Component ServicesSupport ServicesBusiness Analytics Services Software Hardware Healthcare Analytics Market, by Mode of Delivery On-premiseWeb-basedCloud-based Healthcare Analytics Market, by Application Financial analyticsClaims analyticsRevenue Cycle ManagementPayment Integrity & Fraud, Waste & Abuse (FWA)Risk Adjustment & Risk AssessmentClinical analyticsOperational analytics & administrative analyticsPopulation health analytics Healthcare Market, by End User Payer AnalyticsPrivate PayersPublic Payers & Government AgenciesEmployers Provider Hospitals, IDNs, and Physician PracticesPost-Acute Care OrganizationsAmbulatory Care Settings Accountable care organizations (ACOs) Healthcare Analytics Market, by Geography North America U.S. Canada Europe GermanyU.K. France Italy Spain Rest of Europe (RoE) Asia-Pacific China India Japan Rest of Asia-Pacific (RoAPAC) Rest of World (RoW)Latin America Middle East & Africa Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=3995 Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research.phpRelated Reports:Real World Evidence (RWE) Solutions Market by Component (RWD, EMR, Claim, Patient Registry, Pharmacy, Service), Application (Oncology, CVD, Neuro, Infection, Regulatory), End User (Pharma, Biotech, Medical Devices, Payers, Healthcare) – Global Forecast to 2024https://www.meticulousresearch.com/product/Real-World-Evidence-Solutions-Market-4954/Population Health Management Solutions (PHM) Market by Component (Software, Service), Mode of Delivery (Web Based, On Premise, Cloud) and End User (Hospital, Clinic, Payor, Employer, Government, ACO) – Global Forecast to 2023https://www.meticulousresearch.com/product/population-health-management-solutions-phm-market/Patient Registry Software Market by Type (Diabetes, Cancer, Rare Diseases, CVD, Orthopaedic, Drugs, Device), Delivery (On Premise, Cloud), Functionality (PHM, HIE, POC, Research), Database (Public, Commercial), Pricing Model, End User – Global Forecast to 2023https://www.meticulousresearch.com/product/patient-registry-software-market/Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) – Global Forecast to 2027https://www.meticulousresearch.com/product/healthcare-it-market-5084/Precision Medicine Software Market by Delivery Mode (On-premise, Cloud-based), Application (Oncology, Pharmacogenomics, CNS), End User (Healthcare Providers, Research, Academia, Pharma, Biotech) – Global Forecast to 2027https://www.meticulousresearch.com/product/precision-medicine-software-market-5011/About Meticulous Research®The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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