Shinhan Life Signs Business Agreement with Evidnet to Advance Healthcare Operations

After signing a business agreement at Shinhan L Tower in Jung-gu, Seoul, Jo Insan, CEO of Evidnet (from the left), Choi Seunghwan, Head of Digital Innovation Group at Shinhan Life, and Jeong Sanghoon, Head of SI Finance Division at Shinhan Capital, are taking a commemorative photo. (Photo by Shinhan Life)

[Asia Economy Reporter Changhwan Lee] Shinhan Life announced on the 16th that it signed a strategic business agreement with healthcare service company Evidnet at Shinhan L Tower located in Jung-gu, Seoul, to advance its healthcare business.

Founded in 2017, Evidnet is a healthcare service company based on medical data, having established Asia's largest medical big data network (standardizing and linking EMR data from 45 major general hospitals in Korea) and providing various solutions utilizing healthcare data.

Through this strategic business partnership, the two companies plan to promote ▲ linkage of digital healthcare business and services ▲ joint development and implementation of new healthcare businesses ▲ strengthening collaboration as a key player in the medical MyData demonstration project ▲ cooperation to enhance insurance competitiveness using health data.

Earlier, Shinhan Financial Group, aiming to strengthen its partnership with Evidnet as a partner for healthcare market penetration, also invested 10 billion KRW through the group’s SI (Strategic Investment) fund, ‘One Shinhan Connect New Technology Investment Association No. 1,’ managed by Shinhan Capital.

Since its establishment in April last year, the 'One Shinhan Connect New Technology Investment Association No. 1' has invested approximately 188 billion KRW to date. In particular, this investment in Evidnet is the largest in the healthcare sector and the second investment following Chang Healthcare, which the company expects to play a significant role in expanding the group’s healthcare business ecosystem.

Choi Seunghwan, Head of Digital Innovation Group at Shinhan Life, said, “To provide high-quality healthcare services, it is important to understand customers’ health service usage patterns and needs through analysis of actual health data.” He added, “Through this agreement, Shinhan Life will further strengthen its healthcare strategy by expanding from post-coverage to proactive prevention management.”

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