PaiYiPai Named 'Most Promising' Medical Innovation Company at 2016 Bio4P Forum

On November 19, the “6th Bio4P Precision Medicine Innovation Forum and 2016 China Healthcare Innovation and Entrepreneurship Conference” was successfully held in Hangzhou. Nearly 800 renowned scientists, entrepreneurs, investors, startup founders, as well as experts and scholars including presidents of Grade-A tertiary hospitals and physicians from around the world gathered to exchange views and discuss topics such as innovation in the healthcare industry, cutting-edge technologies, and investment and mergers and acquisitions.

Under the guidance of the Zhejiang Provincial Department of Science and Technology, this conference was chaired by Academician Zhan Qimin, Director of Peking University Health Science Center and member of the Chinese Academy of Engineering. It was jointly hosted by Shell Society, Dr. BoDeJiaLian Physician Group, and Health Road, with co-organization support from 3D Medicines, Huagai Capital, and Fosun Tonghao. Centered on the theme “Return,” the conference aims to advocate for the “return to ideals, return to technology, and return to value” within the healthcare industry, thereby promoting its positive development.

Seven Major Awards Announced: PaiyiPai Wins “Most Worth Watching” Healthcare Innovation Company Award

As the “Healthy China” initiative has been elevated to a national strategy, the broader health industry is ushering in unprecedented opportunities for development. To establish exemplary benchmarks within the industry, foster exchange among elites across the upstream and downstream sectors, and more clearly map the competitive landscape of numerous industry players in their respective fields, VCBeat launched the “2016 China Health Industry ‘New Forces of Innovation and Change’” awards campaign. After several months of evaluation, tens of thousands of online votes, and expert reviews by hundreds of professionals, the 25 winning companies and investment institutions were officially announced at this conference and received their awards from the Organizing Committee on site.

PaiYiPai, a medical startup widely recognized for its application of cutting-edge technology in the healthcare sector, has been named one of the most noteworthy medical innovation companies by Beike Club in its search for “New Forces of Innovation and Change.” This honor was supported by 7,118 partners from PaiYiPai’s collaborative enterprises. Previously, in 2015, PaiYiPai was awarded the title of “Most Innovative Enterprise” by VCBeat, a leading vertical professional portal in the healthcare industry, and was interviewed by multiple top-tier domestic media outlets, including Beijing Television, Sohu, and Ifeng.

Pai Yi Pai is developing intelligent medical applications centered on machine vision recognition of medical documents and AI-driven medical analysis. A typical application scenario involves helping insurance companies achieve data structuring, systematic classification, and interpretation of medical documents. This approach not only eliminates the need for manual entry of paper-based documents but also enables traceability to the information source and significantly reduces human error rates, thereby comprehensively enhancing insurers’ claims processing capabilities. Pai Yi Pai’s concept of medical intelligence has garnered widespread adoption and attention across various verticals in the healthcare sector, including medical institutions, physician groups, pharmaceutical companies, and clinical research organizations, indicating substantial future growth potential and promising prospects.

Academician Zhan Qimin, Dean of the Health Science Center at Peking University and a member of the Chinese Academy of Engineering, stated that precision medicine is still in its nascent stages. As it develops, the field will inevitably encounter challenges and opportunities related to technological innovation, laws and regulations, and ethics. He expressed confidence that through collaboration among industry, academia, research institutions, and government, these issues can be effectively addressed, enabling the technologies and methodologies of precision medicine to benefit the public earlier and more effectively, thereby addressing the health concerns of the Chinese population.

Fan Ye, Vice President of Pai Yi Pai: Transforming the Warmth of Healthcare with a Gentle Approach

Fan Ye, Vice President of Pai Yi Pai, stated in an interview with the organizer’s reporters at the conference that healthcare is a vital sector concerning public welfare. Driven by advanced computer technologies, the future development of this industry holds immeasurable potential. As an emerging force in medical big data technology, Pai Yi Pai’s decision to leverage its advanced technologies to enter the healthcare sector was not motivated by the trillion-dollar market size, but rather by the intrinsic transformation of healthcare itself. Pai Yi Pai entered the healthcare field nearly two years earlier than comparable startups. The vast volume of medical cases it has accumulated has enabled computers to master deep learning, allowing them to interpret complex medical terminology and classify numerical data. Its applications are now becoming increasingly widespread. There is tangible demand for Pai Yi Pai’s products from various stakeholders, including hospitals and physician groups, as well as insurance providers, pharmaceutical companies, and research institutions that serve patients.

Fan Ye also stated, “Pai Yi Pai demonstrates the strategic vision of a global enterprise. The power of technology, much like water, is gently transforming the human side of healthcare and improving people’s health outcomes.”

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List of Winners for the 2016 China Health Industry’s Seven “Innovative Forces” Awards

[Most Noteworthy Companies] Yi An Ji Shi, Pai Yi Pai, Chunyu International, NewoCare

[Most Promising Growth Companies] Ascletis BioScience, Johnson & Johnson Medical, Guoke Hengtai, MicroPort Scientific

【Most Innovative Multinational Companies】 Eli Lilly (Eli Lilly Asia Fund’s China Strategy), AstraZeneca China (3D Innovation Strategy), Fosun Pharma (Cross-Border Healthcare M&A), Medtronic (Medtronic China Fund)

[Most Professional Investment Institutions] HuaGai Capital, GTJA Investment, Qiming Venture Partners, Fortune Capital

[Leading Investment Firms] Lifeline Ventures, Tsinghua Holdings Ginkgo, Daotong Qinghui, Genesis Capital

[Most Discerning Investment Institutions] Fenxiang Investment, Sequoia Capital China Fund, CDH Innovations and Growth Fund, WuXi AppTec Yucheng Capital

【Annual Innovative Investment Institution】Fosun Tonghao