Chubu Electric Power enters into capital and business partnership with MEDCARE, a provider of online medical consultation services

Chubu Electric Power Co., Inc. and MEDCARE, Inc. (President Hideyuki Akashi; head office in Toshima-ku, Tokyo; "MEDCARE") have reached a business partnership agreement for service development in the healthcare data platform category. In a related move, Chubu Electric Power acquired MEDCARE shares offered through a third-party allotment in December 2019.

MEDCARE is a venture business that aims to streamline the management of health insurance societies through "MEDICALLY," a system that connects sufferers of lifestyle disease, etc. to online consultation services. It uses the health checkup data of the members of health insurance societies to offer online Specific Health Guidance (Note) and smoking cessation service. The system has been adopted by some 120 health insurance societies so far.

The latest business partnership will promote the integration of MEDCARE's services with Chubu Electric Power's data platform.

The investment funding came from the Chubu Electric Power Community Support Fund, an in-house corporate venture capital established in April 2019 to facilitate swift investments in venture businesses and venture investment funds that have advanced technologies or innovative business models.

The two companies will strive to develop and deploy various services, e.g. building a platform that coordinates bi-directional communication between doctors and patients so that they can receive local medical services with peace of mind, as a solution for resolving social issues including population aging and decline of regional communities.

(Note) A program in which public health nurses and registered dietitians provide guidance and support based on the results of health checkups aimed at early identification of metabolic syndrome (visceral adiposity)

[Reference] Overview of MEDCARE, Inc. (as of the end of August 2019)