November 28, 2017
China, the world’s second largest and fastest growing market for healthcare products and services, cannot be ignored in the plans for any medical technology enterprise. It is a country where doing business as a foreign entity can be both highly complex and fraught with potential pitfalls. Therefore, the managers of GreyBird Ventures have decided to partner with a trusted enterprise, JiuFeng Healthcare (JF), to provide advice, assistance, and access to the Chinese market both for our firm and our portfolio companies.
The GreyBird Managers have enjoyed a decades-long trustful relationship with the Founder, Chairman, and CEO of JF, Frank Wu (吴文辉). The company itself is pioneering new technologies based upon the latest developments in machine learning and artificial intelligence to provide very high quality care to some of the poorest regions of China. It enjoys substantial government support and is in the process of building a nation-wide distribution network for precision diagnostics in China.
The Managers of GreyBird will act as outside advisors to the Board of Directors of JiuFeng Healthcare and will participate in the board meetings of the firm. We anticipate that this relationship will bring both short and long-term mutual benefits to both companies.