Zhongchao Inc. Renews Partnership with Johnson & Johnson (China)

24 February 2023 | Friday | News


Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a platform-based internet technology company offering services to patients with oncology and other major diseases, today announced the renewal of the partnership between Zhongchao Medical Technology (Shanghai) Co., Ltd. ("Zhongchao Shanghai"), of which Zhongchao consolidates the operations and financial results through a series of contractual arrangements and Johnson & Johnson (China) Investment Limited ("J&J").
Image Source : Public Domain

Image Source : Public Domain

The renewed partnership is expected to further strengthen two parities' cooperation in the global advanced field of innovative medical and health.

As the first Fortune 500 company to position the Chinese market as a "global innovation engine," J&J is committed to providing innovative comprehensive medical solutions for Chinese patients and medical and health professionals, the vision of which is also shared with Zhongchao. Zhongchao Shanghai and its subsidiaries are equipped with independent research and development ability of innovative medical education solutions such as Practical Improvement (PI), Community of Practice Share (COPS), medical doctrines, AI knowledge maps, and educational technology modules such as thinking training. Zhongchao Shanghai has developed professional and rich medical content production capabilities and stringent quality control processes. Pursuant to the cooperation agreement, Zhongchao Shanghai will provide digital education, multimedia courseware production, medical editing, and related design services for J&J in mainland China. 

Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "we are thrilled to announce the extension of our cooperation with J&J since 2017, following our last renewal in 2020. We remain committed to deepening our cooperation with J&J in the field of serving patients' health, with the aim of providing the best comprehensive diagnostic and therapeutic solutions based on the benefits of patients and consumers. The MDMOOC platform provides year-round online professional medical training and education services for medical workers to improve their diagnostic and therapeutic capabilities, increase the accessibility and affordability of medical and health services, and promote the popularization of quality medical resources. Together with J&J, we intend to combine our respective expertise and resources to address the challenges in the healthcare market and deliver innovative medical solutions to patients. Meanwhile, we look forward to continuing our efforts to advance digital medical education in the healthcare related markets."

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