“We have collaborated with 600 departments from 300 top oncology centres in China. “We have developed proprietary machine learning and human language processing enabled mechanism to structure millions of clinical EMR into research grade data,” the group says in its page on LinkedIn. “Through clinical data fusion system, the company helps hospitals and departments to establish a structured electronic medical record database,” it says. LinkDoc describes itself as a “leading” big data company from China focused on oncology, the treatment of cancer and tumors.īased in Beijing, LDoc, as it is known, has systems that use artificial intelligence to assist in patient management, and other services. Analysts says they also suspect that Beijing is pressing domestic companies to list in Hong Kong instead of overseas. The company, which is reportedly backed by Alibaba, filed for an IPO last month and was due to set a price for its shares later today (Thursday July 8).Ĭhinese regulators are concerned about the security of large volumes of personal data accumulated by internet-based platforms that list in the US. LinkDoc Technology Ltd has suddenly shelved an IPO that was set to raise up to $211 million in the US, according to sources who spoke to Reuters and Nikkei. (AF) Chinese medical data group LinkDoc has cancelled an initial public offering in the United States after Beijing ramped up its tech crackdown last week against Didi Global and other companies that listed abroad recently. China’s intensifying crackdown on technology companies is proving to be a cautionary tale for investors in the nation’s startups, with one notable exception: consumer brands.įrom cosmetics to bubble tea, Chinese ventures making waves among a new generation of shoppers are becoming a magnet for funds hunting for their next big hit.Medical data group abandons plan for US IPO at the last minute after tech crackdown by Chinese regulators on Didi and other internet-based platforms Investors may see such companies as a viable alternative to tech startups because the government, rather than clamping down, is pushing to foster domestic champions that can fuel spending and compete with the likes of Coca-Cola Co Ltd and Nike Inc.īeijing’s tightening regulation is increasing barriers to invest in traditionally popular areas such as tech, said Mark Tanner, managing director of Shanghai-based marketing and branding firm China Skinny. “In contrast, consumer sectors from food, fashion, to fitness and leisure are seeing increased interest from investors with more policy support,” he said.Ĭhina’s decision to curb business of ride hailing giant Didi Global Inc days after its US listing is the latest bombshell for tech investors, who have seen a months-long clampdown hurt shares of companies from Alibaba Group Holding Ltd to Tencent Holdings Ltd. That is denting fundraising plans of tech startups. LinkDoc Technology Ltd, which provides health care services using artificial intelligence, halted its plans for a US initial public offering (IPO), Bloomberg reported on Thursday (8 July). The consumer sector is a good option for capital to shift to because it faces much lower policy risks than tech and education – which has also faced a crackdown – said a market analyst. On the downside, consumer companies face fierce competition and uncertain growth prospects, the person said. One Chinese venture capital business is considering shifting its focus to categories that are most likely to get government support and favourable policies, including local consumer brands and environment friendly enterprises, a person at the company said.
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