Fischer Medical Invests in Singapore-based  Wonder Tech Group

This move is part of Fischer MVL's broader strategy to diversify its diagnostic solutions offerings, focusing particularly on mental health.

Fischer Medical Ventures, formerly Fischer Chemic, has invested in Singapore-based Wonder Tech Group to advance AI-driven mental health diagnostics. 

This move is part of Fischer MVL's broader strategy to diversify its diagnostic solutions offerings, focusing particularly on mental health.

Commenting on the investment, Ravindran Govindan, chairman and managing director of Fischer MVL, said, “We consider this sector essential healthcare yet heavily underserved and intend to take global leadership. This investment brings exclusive rights to market Wonder Tech’s paradigm-shifting technology in ASEAN, India, and Middle East markets, scaling up their impressive acoustic-based depression diagnostic solution that works across languages, including hundreds of diverse Indian languages.”

AI-Powered Mental Health Solutions

Fischer MVL, which specializes in producing cost-effective Magnetic Resonance Imaging (MRI) systems in India through its subsidiary Time Medical International Ventures (India), has formalized its investment into Wonder Tech Group. 

This collaboration follows a recent partnership with "The Therapy Platform" aimed at expanding mental healthcare offerings.

Wonder Tech Group has developed an AI-driven platform for mental health diagnostics through voice analysis. The platform captures a 60-second voice sample and uses proprietary technology to deliver an instant analysis regardless of language. 

The company claims the solution offers private, objective, and affordable mental health screenings by detecting voice biomarkers that can identify the severity of mental health conditions such as depression. 

The technology can reportedly detect depression with 83% accuracy, surpassing the clinical standard of 80%. 

According to Wonder Tech, the solution has already gained interest from health check centres, chronic disease management services, and insurance companies. It also won the “Best Healthcare Innovation” award from the Singapore Temasek Foundation in 2023.

According to The Lancet Global Health estimates, the mental health market, valued at $399.7 billion in 2023, is expected to reach $530.5 billion by 2032. 

Despite this growth, innovation in mental health diagnostics has lagged, with many relying on traditional psychiatric evaluations, which can be costly, time-consuming, and often associated with social stigma. 

Wonder Tech's AI solution, however, offers a more scalable, user-friendly alternative, enabling mental health screening through a simple voice recording captured via mobile phones, eliminating the need for additional hardware.

Wendy Wu, Founder and Chairman of Wonder Tech Group, also shared her thoughts on the partnership. 

She noted, “Fischer MVL’s funding and marketing support propel us toward our goal of democratising mental healthcare globally, to help more patients detect mental health issues early and seek assistance, while safeguarding their personal privacy and bring down screening cost substantially. Our technology allows consumers and corporations to monitor mental health and wellness through a few seconds of voice data.”

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