Huami Corporation ("Huami" or the "Company") (NYSE: HMI), a biometric and activity data-driven company with significant expertise in smart wearable technology, today announced that it has signed a partnership agreement with PAI Health, a health technology software company.
This partnership combines Huami's massive biometric database collected by high quality smart wearable devices as well as powerful algorithms, along with PAI Health's software to offer a scientifically validated approach to helping address some of the health risks typically associated with an inactive lifestyle, a growing global health problem. To effectively reach individuals in need of help, the companies will be partnering with many channels within the healthcare ecosystem including insurers, healthcare providers and employers.
"We are excited to partner with PAI Health, as we can leverage our strong expertise in smart wearable technology and impressive algorithms that make sense of the biometric data," said Wang Huang, Chairman and CEO of Huami. "Together, we see a huge opportunity to provide meaningful information to consumers and businesses around the world, which we expect to bring data service revenue in the near future."
This partnership will move into the heart of this high growth space -- to realize the potential of wearable sensor data, delivering meaningful insights that help people get healthier by adopting a more active lifestyle. In addition to helping people live longer, this partnership can optimize operational efficiencies for payers and providers and facilitate a preventative approach to managing chronic diseases.
Huami and PAI Health will be rolling out pilot programs with insurance clientele utilizing proprietary algorithms for estimating cardiorespiratory fitness as well as the PAI (Personal Activity Intelligence) metric for guiding optimal levels of physical activity.
About Huami Corporation
Huami is a biometric and activity data-driven company with significant expertise in smart wearable technology. Since its inception in 2013, Huami has quickly established its global market leadership and recognition by shipping millions of units of smart wearable devices. In 2017, Huami shipped 18.1 million units of smart wearable devices. Huami has one of the largest biometric and activity databases in the global smart wearables industry. Huami's mobile apps work hand in hand with its smart wearable devices and provide users with a comprehensive view and analysis of their biometric and activity data. In addition to designing, manufacturing and selling smart bands and watches under its own Amazfit brand, Huami is the sole partner of Xiaomi, a leading mobile internet company and global consumer electronics brand, to design and manufacture Xiaomi-branded smart bands, watches (excluding children watches and quartz watches), scales and associated accessories.
For more information, please visit: http://www.huami.com/investor
About PAI Health
PAI Health has established a reputation as an innovative pioneer in fitness wearables and accurate heart rate monitoring. The company focuses on software using proprietary algorithms and health IP such as the ground-breaking activity metric Personal Activity Intelligence (PAI). PAI Health's mission is to optimize anyone's path to being healthier through increased physical activity. The company offers meaningful data insights founded upon the proven science behind cardiorespiratory fitness for insurers, healthcare providers and wellness programs.
For more information, please visit www.paihealth.com
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the cooperation with Xiaomi, the recognition of the Company's self-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions in China and the global. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.