Ciba Health Launches $10 Million Joint Venture with China's New Harmony

NEW YORK, July 21, 2021 /PRNewswire/ -- Ciba Health, a digital therapeutics and virtual care platform, is partnering with New Harmony, a private medical technology and services entity in Beijing, to fight diabetes in China. Under the Beijing Ciba-New Harmony Medical Technology, the companies are launching a $10 million Type 2 Diabetes Reversal Program in China. Ciba and New Harmony signed the agreement this week and are planning to kick off the joint venture operations in October 2021.

According to Ciba Health's founder and Chief Executive Officer, Dr, Innocent Clement, "We are excited to partner with New Harmony and be among the first players to enter the digital therapeutics market in China." Ciba's precision health approach treats and reverses chronic conditions, while optimizing and maintaining the physical and mental well-being of its patients. This partnership with New Harmony will initially focus on tackling type 2 diabetes within the Chinese population. Clement said, "China has a population of approximately 100 million suffering from type 2 diabetes. Being the first entrant in such a market will not only expand Ciba's reach beyond North America, it will be a large step in bringing precision medicine to the forefront of clinical practice."

Chairman of New Harmony, Hurry Wang said, "We are thrilled to partner with a health innovator, such as Ciba, as we have a common vision derived from similar values. We are looking forward to deploying the Type 2 Diabetes Reversal Program and making it accessible to those interested in an alternative healthcare practice." He explained that New Harmony was created to bring innovation and technology to China's healthcare sector and improve its people's physical condition, health literacy, and quality of life.

Ciba Health and New Harmony plan to enter the Chinese market with an aggressive and targeted strategy, centered around high-level hospitals and medical centers of excellence. Roger Chahine, Ciba Health's Chief Strategy & Operating Officer said, "Our tight partnership with New Harmony allows us to put a considerable footprint in China, helping a vast population of type 2 diabetes sufferers. We have full confidence in our partners at New Harmony and anticipate a flawless execution of the Type 2 Diabetes Reversal Program now, as well as other programs in the future. China is a first—and extremely valuable—step for us in the larger Asian market."

About Ciba Health

Ciba Heath (cibahealth.com) was established in 2019, with the mission of improving health through functional and personalized medicine. Initially focused on type 2 diabetes reversal, Ciba has grown its portfolio to address a variety of chronic conditions and comorbidities, such as fatigue, stress, depression, and anxiety. Offering tailored health programs to its patients, Ciba addresses the root cause of a disease with its team of doctors, psychiatrists, health coaches and nutritionists.

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SOURCE Ciba Health