Amplify Health accelerates strategy by acquisition of leading Artificial Intelligence provider in APAC
AiDA Technologies (AiDA), a major supplier of enterprise artificial intelligence (AI) solutions in Asia Pacific, has been acquired by Amplify Health, a pan-Asia joint venture between AIA Group Limited and Discovery Group Limited.
Dr. Tan Geok Leng, Dr. Shonali Krishnaswamy, and a group of skilled data scientists from InfoComm Research Institute (I2R), A*STAR, created AiDA in Singapore in 2016. (Agency for Science, Technology and Research).
The proprietary machine learning technologies created by AiDA are commercially successful, multi-award winning, and used to automate underwriting, claims processing, and the detection of fraud, waste, and abuse. These technologies help organisations make better use of data to speed up operations, increase revenue, reduce costs, and foresee changing risks. Amplify Health's current portfolio of integrated healthcare technology solutions and related intellectual property, which is powered by market-leading proprietary health intelligence platforms and includes production-proven claims processing and management systems, integrated digital health programmes for chronic disease management, and private health insurance (PMI) product development capabilities, is complemented and strengthened by these capabilities.
AiDA has established a strong customer base in South East Asia and a wide range of connections with governmental, academic, scientific, and other non-profit organisations. Amplify Health expands its regional team of highly qualified data scientists with the purchase of AiDA.
“Driven by our purpose to make people Asia Pacific healthier, we are building an integrated health technology solutions company that transforms health and well-being for patients and communities everywhere Asia Pacific. The acquisition of AiDA Technologies adds further AI and machine learning capabilities to our existing IP and integrated health technology solution suite that we deploy across the region,” he said DR Axel BauerAssociate General Manager of Amplify Health. “Through this acquisition, we are accelerating our plans to enable payers, businesses, medical providers and public health systems to improve patient health outcomes and health system sustainability Asia Pacific.”
“As we sought to unlock the future potential of AiDA Technologies, we were looking for a partner who could offer more expertise, financial resources and access to new distribution networks to allow us to scale for even greater impact. We are confident that we have found this Amplify Health partner and their impressive team,” said DR Tan Geok LengCEO of AIDA Technologies. “We are incredibly excited to partner with Amplify Health to fulfill the mission of empowering people Asia Pacific healthier and deploying our best-in-class technology across the region."