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Baidu Invests $200 Million in Tech Investment Firm, Eyes IoT and Medical Tech

By Zhao Runhua / Sep 10, 2019 11:55 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese internet behemoth Baidu announced Tuesday it would invest 1.4 billion yuan ($200 million) into a strategic partnership with Neusoft Holdings, a well-known investment group focusing on technology and internet-based services projects.

The investment will be carried out by an internet technology arm under Baidu, for “digitalization reforms” in areas such as technology-driven city management, education, and healthcare projects. Meanwhile, Baidu’s chief technology officer Wang Haifeng will become Neusoft Holdings’ board member, the company said.

This is not Baidu’s first investment in Neusoft Holdings’ affiliate companies. Baidu earlier this year signed cooperation deals with Neusoft Co., China’s first listed software company. In March, Baidu also invested in Neusoft Medical Systems, a medical equipment manufacturer and cloud solution provider for remote medical image analysis, a new internet of things battleground where China’s medical technology companies compete in telecommunication solutions as well as medical technology including equipment development.

Due to an editorial error, this article was originally posted under the wrong headline.

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