Yipai Intelligence Announces Full Pivot to Blockchain, Spins Off AI Healthcare and Dialysis Businesses for Independent Financing

On March 26, 2018, AI healthcare company Yipai Intelligence officially announced its comprehensive transformation to go “all in” on blockchain, with its original AI healthcare and hemodialysis businesses to be spun off as independent entities.

“Yipai Intelligence” will fully launch its B-side medical blockchain business following its transformation, focusing on providing blockchain infrastructure technologies and services—such as consortium chain and private chain development, smart contract development, and token design and development—to medical institutions, health management service providers, physical examination centers, insurance companies, and other stakeholders.

Meanwhile, Yipai Intelligence will relaunch the “Pai Yi Pai” brand, with its AI healthcare business segment transferred to the “Pai Yi Pai” company to focus on AI-related healthcare services. The hemodialysis business of “Xinze Medical,” a subsidiary of Yipai Intelligence, will also be spun off as an independent entity, aiming to build China’s leading third-party hemodialysis management platform. It is reported that all three companies will initiate fundraising efforts simultaneously.

Wu Shizhan, Founder and CEO of Yipai Intelligence, stated: “This major strategic adjustment is designed to adapt to the rapid growth of our business at this stage, clarify the distinct technological and service characteristics of our various brands, and better meet the diverse needs of our customers.”

As a leading expert in big data and blockchain in China, Wu Shizhan formerly served as the head of Baidu’s Commercial Big Data team. He was among the earliest blockchain entrepreneurs in China. Prior to founding Yipai Intelligence (Pai Yi Pai), he was the co-founder of Taiyi Cloud/Yuanbao Network, the world’s first publicly listed blockchain company. He is currently the foremost figure in China spanning the fields of blockchain, AI, and healthcare, with profound understanding and research expertise in both blockchain and AI-driven healthcare.

Founded in January 2015 by senior scientists from Microsoft and Baidu, along with renowned professors from top universities, Yipai Intelligence is a dual-certified high-tech enterprise recognized by both Zhongguancun and national authorities. The company has consecutively received accolades such as “Most Promising Medical Innovation Company,” “Best AI Startup,” and “Best Emerging Startup” from prominent media outlets. It has secured investments from globally renowned institutions and individuals, including Redpoint Ventures, Chongshan Capital, Yilian Capital, Hongtai Fund, Han Xiaohong of Ciming Health Checkup, and 360.

This major strategic shift by Yipai Intelligence to fully embrace blockchain technology is not a sudden move. Last December, Yipai Intelligence launched a strategic cooperation plan with the Singapore-based Tianyi AIDOC blockchain team, primarily providing technical support in AI, big data, and healthcare. It is believed that following this significant strategic adjustment, Yipai Intelligence will further increase its technical support for the Singapore Tianyi AIDOC team.

Wu Shizhan told reporters, “When people mention blockchain, the first thing that comes to mind is Bitcoin. In reality, blockchain technology is now widely applied in the financial services industry. Moreover, the characteristics of blockchain—such as decentralized distributed storage, tamper-proof encryption, and a public, transparent network—are highly suitable for application in the healthcare sector. For instance, regional health information platforms equipped with smart contract functionality can ensure data authenticity while enabling automated data exchange among medical institutions and automatic allocation of benefits, significantly reducing operational and maintenance costs within the healthcare ecosystem. By integrating biometric identification technologies with quantitative data collected from smart hardware and sensor devices, smart contract technology can facilitate automatic payment of medical bills. Additionally, health insurance claims systems based on blockchain technology can enhance claim processing efficiency and reduce operational and maintenance costs while ensuring the authenticity of information across all parties. Furthermore, building tamper-proof electronic medical record systems helps regulatory authorities oversee diagnosis and treatment processes, preventing medical institutions from maliciously altering erroneous records to evade liability for medical malpractice. At present, we have received substantial rigid demand for blockchain technology from numerous healthcare-related organizations and have begun providing them with corresponding blockchain-based solutions.”

Wu Shizhan stated, “As one of the most prominent cutting-edge technologies today, blockchain—alongside big data and artificial intelligence (AI)—is regarded as a disruptive technology poised to change the world. AI has been a focal point in the healthcare industry over the past two years; however, it is currently facing significant bottlenecks. Substantial advancements in AI require massive datasets, yet current data providers lack sufficient incentives to supply such large volumes of data. With the support of blockchain technology, if data generation can be valorized and standardized through consensus mechanisms, a vast healthcare data market will emerge, thereby driving further development of AI technologies!”

IBM predicts that 56% of healthcare institutions worldwide will invest in blockchain technology by 2020. Currently, many global internet giants are following this trend and actively promoting the application of blockchain in healthcare. International companies such as Philips Healthcare, Gem, and tech giants like Google and IBM are all actively exploring the use of blockchain technology in the medical field.

We believe that integrating technologies such as blockchain, AI, and big data into healthcare will enhance the efficiency and management capabilities of medical and health institutions, contribute significantly to reducing healthcare costs, and drive a profound transformation in the healthcare industry.

Dr. Yang Qiong, Executive President of Paiyipai Technology, stated, “Following this strategic adjustment, the Paiyipai brand will be relaunched. Paiyipai Technology will continue to deepen its engagement in the AI healthcare sector, focusing on the development of intelligent imaging-assisted diagnostic products and an intelligent document recognition platform. We aim to continually enrich our AI healthcare product portfolio and remain committed to serving major hospitals, physical examination centers, health management enterprises, and insurance companies.” Yan Bing, CEO of Xinze Medical, remarked, “In 2018, we will accelerate the expansion of our business across China, striving to build the country’s largest third-party hemodialysis management platform and aiming to become the number one player in the national hemodialysis industry.”

We believe that this major strategic adjustment by Yipai Intelligence will undoubtedly inject new vitality into the healthcare industry. The three companies will work together from different directions to support the national development of a comprehensive, full-lifecycle population health information platform, striving to provide the public with higher-quality and valuable medical and health services, thereby further advancing the “Healthy China Strategy.”