Seoul: Internet giant Naver Corp. said Friday it has signed a partnership with InBody Co., a South Korean company known for body composition analyzers, as part of its strategy to enter the global digital health care market. Under the agreement signed the previous day, Naver will acquire an 8.5 percent stake in InBody and strengthen the companies' strategic partnership in the digital health care sector, according to Naver.
According to Yonhap News Agency, InBody develops and provides body composition analysis machines and related services worldwide. The partnership comes as Naver has been expanding its business into the health care sector. In August, it invested in Seoul-based medtech company JNPMedi Inc. to collaborate on advancing the latter's digital clinical trial platform incorporating artificial intelligence (AI) technology.
Naver currently offers basic health care features on its platform, such as a step counter and hospital reservation services. "By partnering with InBody, the global leader in body composition analysis, we plan to introduce innovative health care services combining AI and data to the global market -- data-driven, personalized health management services that seamlessly connect online and offline," said Choi In-hyuk, head of Naver's health care business division. "We are developing services that provide tailored health management by addressing diverse user needs, including senior care, diet and wellness," he added.