The agreement between EarlySense and local health startup mHS highlights the expanding tech and trade relationship between Israel and Singapore.
EarlySense’s flagship product is EverOn, a health monitor technology that automatically informs the right people regarding changes in a patient’s condition from either their home or hospital bed. Their sensors focus on cardiac and respiratory health for emergencies, with sleep and motion analysis for continuous monitoring.
The agreement fits into a greater expansion strategy toward southern Asia, according to the Israeli company.
“The population in Asia is aging, resources are becoming more and more limited, bringing big opportunities for EarlySense technology to fulfill this need,” EarlySense’s VP Sales and Marketing, Yfat Scialom, told Geektime.
EarlySense is a titan as far as companies that could be considered a startup, tallying up 100 employees whereas mHS lists only 20. For its part, mHS is an IT company with a focus on connecting health apps, electronic medical records and other info systems.
“Singapore is renowned as a regional center of healthcare excellence, and is a key market for our solution,” Scialom said in a press release.
And she’s right with the city state attracting top level attention as groups like the international insurance conglomerate AIA have chosen the location for their new Digital Health Accelerator which opened at the end of February.
The government has also taken steps to improve services for the aging and elderly in the city. “We are pleased to collaborate with mHS and leverage its local expertise to bring our clinically-proven technology to medical facilities across the region.”
The Lion City and the Lion of Judah
As mHS becomes the Israeli firm’s primary distributor in the region, the partnership highlights a growing economic and perhaps political alliance between Israel and Singapore. For example, Startup East, an accelerator program facilitating Israeli entrepreneurs in the region, has opened an office in Singapore and has partnered with the local Enterprise incubator. Israel-based agritech accelerator Trendlines reached their exit thanks to a $27.5 million raise in a Singapore-based IPO.
One of the latest headlines comes from a $10 million round by Israel-based hybrid VC OurCrowd from Singapore’s UoB, which allows lower level approved investors the chance to buy equity in early-stage startups. Over the course of a more extensive interview with Geektime, which will be published soon, OurCrowd founder and leading entrepreneur Jon Medved was quoted as saying that Singapore has an extremely special relationship with Israel that makes their bilateral trade relationship a rising juggernaut.
“Singapore is a special partner of Israel,” he says, adding that, “If you look anywhere in the East then you’ll be hard-pressed to find a better ally than Singapore. Trade partners. Rumored defense partners. Upon landing there, you universally get hear from the customs guy or taxi drivers, ‘I love that place.’ when they hear that you’re from Israel”