CG Invites Enters China's Digital Healthcare Market, Establishes Hong Kong JV

[Financial News] CG Invites is establishing a joint venture with a premium Chinese medical institution and launching the commercialization of its AI-based digital healthcare platform in China.
CG Invites announced on the 17th that it had signed an agreement with VISTA Clinic to establish the Hong Kong-based joint venture VISTA Invites Digital Ward (VIDW).
The agreement follows a strategic memorandum of understanding (MOU) signed by the two companies in April. While the original MOU focused on reviewing business opportunities in the Chinese market, the latest agreement establishes a structure for pursuing operations through a local joint venture.
CG Invites plans to acquire a stake in VIDW and grant it exclusive rights to use the AI-based digital healthcare platform Invites Loop throughout mainland China. The two companies plan to use VIDW, established in Hong Kong, as the operational hub for their mainland China business.
The growth potential of China's digital healthcare market is another factor behind the expansion. According to market research firm Frost & Sullivan, China's integrated digital healthcare services market is projected to grow from 220.3 billion yuan (approximately 45 trillion won) in 2024 to 740.1 billion yuan (approximately 152 trillion won) in 2030.
CG Invites plans to build a business model tailored to China's healthcare environment by combining VISTA's local medical services infrastructure with Invites Loop's AI and data technologies.
VIDW will connect Invites Loop to VISTA's medical service sites and oversee local operations and service implementation. VISTA's Beijing hospital serves approximately 80,000 outpatients annually, while its Shenzhen hospital serves about 20,000.
CG Invites plans to validate its business model in the Chinese market by deploying the platform in real-world medical settings. It also intends to expand into overseas markets based on its local operating experience.
VISTA is a medical institution founded in Beijing, China, in 2000. It provides international medical care, health screenings and specialized treatment, and has established a direct-billing network linked to more than 60 domestic and international insurers.
Invites Loop is an AI-based digital healthcare platform that connects medical and health data from prevention, diagnosis and treatment to follow-up care and everyday health management. It analyzes data dispersed across hospitals and daily life using AI to identify an individual's health status and risk factors, while supporting patient management and health management services provided by medical institutions.
A CG Invites official said, "This agreement has turned our cooperation with VISTA into a concrete business structure and enabled us to fully launch Invites Loop's business in China. We will build a business model suited to the Chinese market and expand our business into global markets in the future."

[email protected] Jung Sang-hee Reporter