HUINNO

About HUINNO

Established in 2014 by co-founders Gil Yeong-joon (CEO) and Steven Baek, HUINNO is a digital healthcare company focused on addressing the challenges of diagnosing and managing cardiovascular diseases. The company operates in the remote cardiac monitoring market, providing solutions for patients with or suspected of having heart conditions like arrhythmia, atrial fibrillation, and hypertension. Its business model centers on prescription-based wearable devices and an AI-powered cloud platform, generating revenue by assisting medical professionals and improving patient outcomes. HUINNO's solutions are designed to be used by medical staff in hospitals and clinics who prescribe the devices to patients for at-home monitoring.

HUINNO's core offering is the MEMO platform, which includes wearable electrocardiogram (ECG) measurement devices and an artificial intelligence-based analysis service. The hardware consists of the MEMO Patch, a compact, lightweight, and reusable ambulatory ECG monitor capable of continuous measurement for up to 14 days. This device is designed for patient comfort and continuous data transmission. For patients requiring periodic measurements, the company offers the MEMO Watch. The data collected from these devices is uploaded to a cloud server where the MEMO AI analyzes the ECG records. This AI technology, with a reported precision of 97%, identifies potential abnormalities and presents the relevant data segments and predicted diagnoses to medical staff through a web service, significantly reducing the time required for analysis compared to conventional methods. In April 2022, HUINNO entered into a distribution contract with Yuhan Corporation to market the MEMO Patch in Korea, a significant step in its commercialization strategy.

The company has navigated the regulatory landscape, becoming the first ICT company in Korea to receive approval under the government's regulatory sandbox for a wearable ECG device. Financially, HUINNO is a Series C company, having raised a total of $47.6 million over three funding rounds, with the latest round in December 2021 bringing in $36.5 million. Key investors include Aju IB Investment, KTB Network, and Yuhan Corporation. The company has also established a subsidiary, HUINNO Aim, in 2022 to focus on developing AI-based clinical decision support systems for analyzing biosignal data of critically ill patients.