MedP AI Completes Tens of Millions RMB Series A+ Financing and Rebrands as 'YiPai Intelligence', Files IPO Prospectus

VCBeat has learned that on August 6, 2017, Paiyipai, a company specializing in medical intelligence technology, completed its Series A+ financing round, raising tens of millions of RMB. Paiyipai had previously received investments from globally renowned venture capital firm Redpoint Ventures, the Shanshan Yuanzhi Healthcare Fund with medical industry expertise, Han Xiaohong of Ciming Health Checkup, 360, Yilian Capital, and Hongtai Fund. Concurrently, Paiyipai underwent a comprehensive strategic upgrade, officially changing its corporate name to “Yipai Intelligence,” adopting the new domain MEDP.AI (http://www.medp.ai), and launching a new trademark.

Currently, YiPai Intelligence operates two independent subsidiaries—PaiYiPai and Xinze Medical (Xinze Medical, as a leading information platform provider for independent hemodialysis centers in China, serves hundreds of hemodialysis institutions)—as well as the Da Vinci Medical Intelligence Research Institute. Building on its core capability in intelligent OCR-based recognition of medical documents, the company has expanded its business scope to include intelligent recognition of medical imaging.

Yipai Intelligence’s Brand-New Logo Symbolizes Its Commitment to Serving Professional Medical Institutions with Rapid, Accurate, and Stable High-Tech Visual Recognition. Last year, Yipai Intelligence experienced rapid growth, emerging as a leader in multiple niche segments of medical technology services and earning dual recognition as a Zhongguancun High-Tech Enterprise and a National High-Tech Enterprise. Leveraging artificial intelligence technologies represented by deep learning and integrating vast amounts of medical data, Yipai Intelligence has developed an AI-assisted system for medical imaging diagnosis and recognition.

The team possesses technical capabilities in medical image processing, medical big data analysis and mining, and mobile healthcare information system development, and has developed core intellectual property technologies such as medical data scraping with intelligent recognition and comprehensive parsing of medical terminology.

The YiPai Intelligent team excels in various image processing and artificial intelligence technologies, achieving internationally leading standards particularly in computer-aided diagnosis of medical images and medical document recognition. The team has secured over 40 national patents, spanning multiple fields including machine vision, medical imaging, and data mining.

Additionally, the team possesses extensive experience in big data infrastructure architecture and big data analytics and mining. Core members previously led artificial intelligence core algorithm initiatives at major internet companies such as Baidu and Microsoft.

Yipai Intelligence has accumulated extensive experience in processing hundreds of millions of medical data records, establishing a leading advantage in the industry. Deeply rooted in the healthcare sector, Yipai Intelligence serves partners across various segments of the medical field. To date, it has provided deeply specialized, vertical solutions to more than 400 hospitals, insurance companies, kidney dialysis centers, private hospitals, and medical equipment manufacturers.

YiPai AI: Business Scope and Development Overview

To enhance the industry-wide capability for acquiring and parsing medical data, and to provide robust support throughout the entire process of medical diagnosis and treatment, Yipai Intelligent Da Vinci Medical Intelligence Research Institute has entered into multiple strategic collaborations with leading domestic and international technology companies. These partnerships aim to empower frontier technology firms with greater impetus to conduct more refined scientific research and prepare for market commercialization.

Wu Shizhan, founder of YiPai Intelligence, stated, “AI-supported diagnostic solutions will significantly improve medical efficiency while enabling rapid discovery of rich content, such as early detection, treatment planning, and disease monitoring.”

Yipai Intelligence’s research in medical imaging intelligence primarily focuses on the acquisition and analysis of medical images, including CT, MRI, PET, pathological slides, fundus photographs, and ultrasound.

Taking X-rays as an example, the U.S. Centers for Disease Control and Prevention (CDC) estimates that approximately 12.1 million people in the United States undergo mammography annually. However, according to statistics from the American Cancer Society (ACS), nearly half of these cases are suspected “false positives,” meaning that half of healthy women are told they have cancer. A large number of women opt for breast biopsies to confirm the diagnosis (approximately 1.6 million per year), of whom 20% are healthy individuals. Meanwhile, the accuracy rate of biopsy results is only 60%–80%.

X-ray images typically have a resolution in the megapixel range, whereas malignant tumors occupy only tens of pixels. In terms of relative proportion, distinguishing malignant tumors presents considerable difficulty. Traditional computer-aided diagnosis (CAD) systems, although capable of detecting spots in medical images, frequently yield false-positive results.

Yipai Intelligent Medical Imaging AI System integrates state-of-the-art deep learning algorithms. With the assistance of physicians, it analyzes large volumes of medical imaging data to automatically extract “morphological features” indicative of malignant tumors and develop “recognition patterns” for detecting their presence.

When the AI system applies its identified recognition patterns to medical imaging, it can determine the presence of malignant tumors with greater accuracy and speed than traditional methods. Furthermore, research findings indicate that the AI system can intuitively translate X-ray images into diagnostic information, facilitating rapid clinical assessment by physicians.

Introduction to YiPai Intelligent Smart Chest X-ray Triage

China faces an urgent demand for radiologist services. The annual growth rates of radiologists in the United States and China are merely 2.2% and 4.1%, respectively, falling far short of the rapid growth rates of medical imaging data, which stand at 63.1% and 30.0%. The scale of the health examination market, with 300 million participants annually, further underscores this issue.

The in-depth application of artificial intelligence (AI) technology in the field of medical imaging has filled these gaps and is unleashing significant market potential. Traditional healthcare has long relied on several forms of unstructured data, and the analysis of medical big data through visual recognition involves datasets that are larger and more complex than those in most other domains. Therefore, image-based analysis holds greater practical significance at the application level.

Research findings from YiPai Intelligence demonstrate the capability to assess the likelihood of pulmonary tumors based on CT scans, differentiate between benign and malignant lesions, and delineate tumor regions. In internal testing, the system outperformed an expert panel in identifying malignant tumors. In numerous internal test cases, it enabled cancer diagnosis two years earlier than human radiologists and improved the accuracy of malignant tumor identification by 50% compared to the expert panel.

Introduction to YiPai Intelligent Smart Chest X-ray Triage

For fundus disease screening, YiPai Intelligence can rapidly identify fundus lesions, assist in grading, and provide preliminary diagnostic reports. It completes lesion marking on a single fundus image within 13–15 seconds, achieving an accuracy rate exceeding 97% on specific datasets. With excellent stability, its performance in real-world scenarios even surpasses that of physicians.

In terms of electrocardiogram (ECG) analysis, Yipai Intelligent has improved the accuracy of abnormality detection, with its intelligent diagnostic results achieving an accuracy rate of 96% or higher, whereas traditional methods only reach an accuracy of 68%. This is because Yipai Intelligent employs cutting-edge core artificial intelligence algorithms, such as neural networks, thereby endowing machines with human-brain-like, truly accurate medical intelligence technology.

YiPai Intelligence has also been applied in fields such as breast cancer, skin lesions, and automated medical coding.

Yipai Intelligence is a technology-driven company, with core technical personnel accounting for over 80% of its workforce. It strives to enable its core products to serve frontline medical institutions, integrating and permeating artificial intelligence into every aspect of healthcare.