“It was therefore a logical next step for us to join forces with EDBI and use our expertise and capabilities to support high-potential digital health businesses and entrepreneurs in this way,”
“We are delighted that CXA will be the first beneficiary of our digital health investment alliance. As a company, they embody the leading innovation and ambition that we want to champion through this partnership with EDBI. And we’re now looking to accelerate and get more high-potential companies on board, to deliver better health outcomes in Singapore, support the CFE’s priorities for economic growth and continuing on our Philips journey to achieve our ambition to improve the lives of three billion people a year by 2025,” added Ms. Clarke.
CXA will benefit commercially from access to Philips’ health technology solutions and business partners across the health continuum, from healthy living and prevention, to diagnosis, treatment and home care. In particular, CXA will be able to integrate Philips’ leading health monitoring solutions and services to track employees’ vital signs and provide them with targeted guidance, aided by clinical algorithms, to help them prevent and manage chronic conditions. CXA also plans to leverage Philips’ digital health platform to analyze data and generate meaningful insights.
Through its collaboration with Philips, CXA will be better able to educate its clients’ employees about their health, and provide employers and insurers with analytics that enable better designed benefit and wellness programs. CXA’s programs incentivize healthier behaviors to reduce claims and insurance premiums, ultimately improving outcomes for employees, employers and insurers.
“EDBI and Philips’ joint support will be a strong driver to catalyze CXA’s next-level of growth. EDBI is one of the few experienced and reputed Asian-based investors with a focus on digital health. Their investment in CXA is a strong validation that our solutions is a front-runner in this space. Philips’ expertise in personal health monitoring and big data are both huge assets for us as we look to refine our value proposition and scale regionally. Our vision is to transform employee benefits across Asia, and with EDBI and Philips on board, we’re in an even stronger position to do that in 2017,” said Ms. Rosaline Chow Koo, Founder and Chief Executive Officer, CXA Group.