Home Global Imaging Founder Chai Xueting Files IPO Prospectus for Global-View Medical Imaging Service Platform

Global Imaging Founder Chai Xueting Files IPO Prospectus for Global-View Medical Imaging Service Platform

Nov 23, 2015 15:01 CST Updated 15:01

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“Global Imaging” Co-Founder Chai Xueting Delivers Keynote Address at High-Level Forum


On November 5, 2015, China’s first government-hosted conference themed around “Internet + Healthcare” and innovation and entrepreneurship, attended by over a thousand participants, was held in Chengdu.

As a high-tech company dedicated to the field of internet healthcare, Chai Xueting, co-founder of "Global Imaging," delivered a keynote speech at the summit forum and accepted an interview from VCBeat.

“Global Imaging” Medical Cloud Service Platform is an internet-based medical service tool platform independently developed by Hangzhou Lianzhong Medical Technology Co., Ltd., featuring FDA-certified core technologies and centered on medical imaging. The “Global Imaging” Medical Cloud Service Platform leverages both the web-based Global Imaging Network and the Global Imaging mobile app to provide tailored solutions for healthcare institutions, enabling them to achieve storage and sharing of medical images and other diagnostic and treatment information.

According to Chai Xueting, “Global Imaging” has established a nationwide presence and entered into in-depth collaborations with multiple cities across nine provinces. The “Global Imaging” medical cloud service platform is currently used by more than 10,000 physicians at nearly 300 hospitals across China, including over 2,000 medical experts with senior associate chief physician titles or higher.

Pain Points and Original Intentions

When discussing the original intention behind establishing “Global Imaging,” Chai Xueting stated that it was because he had identified three major pain points in image interpretation.

First, the cost of storing medical images is substantial. Clinical diagnosis in hospitals relies on medical imaging for 70% of cases, and according to national regulations, patient medical records must be retained for 15 years, resulting in an enormous volume of data storage for hospitals. To accommodate this data, hospitals nearly every year must invest in expanding their data center storage capacity, with expenditures ranging from hundreds of thousands to tens of millions of yuan.

Second, technological support for image interpretation is lagging. Radiologists are confined to performing tasks such as image review, reconstruction, and reporting within fixed office settings on standalone workstations. While more developed regions have achieved inter-hospital image transmission between fixed terminals, less developed areas still rely on traditional film viewed on light boxes, let alone employing professional post-processing techniques for raw images or enabling remote and mobile consultations.

Third, there is a lack of direct and efficient communication between doctors and patients. Many patients or their family members are seen carrying film sheets around the entrances of large hospitals in search of specialists; meanwhile, doctors spend excessive energy on traditional film reading and basic consultations.

Chai Xueting stated that the creation of “Global Imaging” aims to enable patients to directly consult experts online for image interpretation and diagnosis, thereby addressing their needs for second opinions locally; it also helps hospitals reduce costs and allows physicians to save time and improve efficiency.

Product and Advantages

Currently, the “Global Imaging” medical cloud service platform encompasses five major service functions: medical big data cloud services, remote diagnosis and treatment cloud services, medical academic cloud services, patient services, and mobile applications. It meets a range of comprehensive medical application needs, including remote consultations for hospitals, two-way referrals, and remote patient visits.

Chai Xueting revealed that “Global Imaging” has achieved cross-format, full-data integration via XDS, establishing patient-centered health record management and sharing. In the future, the platform will integrate a wide range of specialized clinical software to enable deep, vertical applications across various medical fields.

Compared with similar products on the market, Chai Xueting believes that “Global Imaging” has four major advantages.

First, a unified global platform to break down barriers. “Global Imaging” eliminates brand and technological barriers, operating on a single global platform with uniform standards. By leveraging multi-site data backup and cloud-based sharing, it breaks down the traditional “silos” of medical information.

Second, high-efficiency construction to eliminate redundancy. "Global Imaging" leverages multi-line BGP peering and top-tier domestic CDN (Content Delivery Network) nodes to ensure smooth access, while eliminating redundant consumption of hardware, software, and storage resources within the hospital’s information systems. As a result, hospitals will save approximately 50% in costs.

Third, high technological sophistication ensures quality. The application of core technologies certified by the FDA, including “Global Imaging” remote mobile fixed-point image transmission, web-based mobile imaging archive and communication systems, and VNA/XDS data sharing, are all internationally leading and pioneered in China.

Fourth, hot backup of data pools to mitigate severe disruptions. Union Medical has partnered with Alibaba Cloud Computing, with “Global Imaging” serving as the security vanguard. Alibaba Cloud provides combat-ready level security protection commitments to safeguard medical information security.

Team and Development

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Chai Xueting stated that after nearly two years of research, development, and promotional application, the “Global Imaging” medical cloud service platform has become a representative platform system in China’s remote mobile healthcare sector, and has gained recognition and promotional support from administrative authorities and healthcare management bodies across various regions.

To date, “Global Imaging” has completed two rounds of financing: in January 2014, it secured RMB 10 million in Series A funding from Zhejiang Rushan Venture Capital Management Co., Ltd.; in June 2015, it raised RMB 20 million in Series A+ funding from Shanghai Jianxi Investment Partnership (Limited Partnership), along with a RMB 30 million credit facility from Bank of Nanjing. Prior to its listing on the National Equities Exchange and Quotations (NEEQ), the company plans to raise an additional RMB 50 million, contingent upon helping the team establish a RMB 30 million equity pool for incentive purposes. Definite investors for this private placement have already been identified.

“Global Imaging” has achieved rapid development, thanks to the core team’s extensive industry experience and professional technical expertise.

Mr. Chai Xueting, Chairman and Product Director, holds dual degrees in IT and Clinical Medicine and has over 10 years of experience in market support for medical imaging equipment and products.

Vice President of Technology, Wang Ling, has 16 years of experience in the finance, internet, and healthcare information industries, having served as CTO for multiple internet companies. He was the pioneer of Zhejiang Telecom’s “Doorstep” airtime recharge platform and the chief architect of the Zhejiang Provincial Appointment Registration Platform, the first provincial-level appointment registration platform in China.

Vice President of Operations, Li Jianjun, has 15 years of experience in the finance, internet, cultural industry, and media sectors. He has previously served as Executive Vice President of a Cultural Communication Group and General Manager of an Online Media Company, among other roles.

Regarding the company’s future plans, Chai Xueting stated that “Global Imaging” will develop customized cloud applications for full-data cloud storage, strive to secure collaborations on imaging center projects at all levels, help hospitals at various tiers strengthen the cloud infrastructure of their medical consortiums, and provide underlying application services to interface service operators and health-related companies.

Additionally, “Global Imaging” will rapidly expand its global footprint, leveraging the national strategic initiative of the Belt and Road Initiative to foster strategic collaborations with neighboring countries as well as those in Europe and the United States.