Tencent has made a $30 million investment into Insighta, a Hong Kong-based early cancer detection company, from health sciences firm Prenetics Global.
The investment sees Tencent boost its role in the artificial intelligence AI healthcare space, values Insighta at $200 million, and following the transaction, Prenetics’ stake in Insighta will be reduced from 50% to 35%. Insighta’s co-founders will retain their 50% shareholding.
As part of the agreement, Prenetics has received $30 million in cash from the sale of secondary shares to Tencent, boosting its pro forma cash and other current short-term assets to over $90 million at the closing of the transaction.
Tencent...
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