Fischer Medical Ventures invests in Singapore's Wonder Tech to revolutionise AI-based mental healthcare

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Fischer Medical Ventures Ltd (Fischer MVL) specialises in the production of cost-efficient, high-quality Magnetic Resonance Imaging (MRI) systems, making them the first company (through its wholly owned subsidiary Time Medical International Ventures (India) to indigenously manufacture such advanced medical imaging equipment in India.

Apart from medical imaging, Fischer MVL also actively invests & partner with a diverse portfolio of diagnostic solutions, of which mental health space is one of important business focus.

This investment decision in Wonder Tech, follows the company’s wholly owned subsidiary’ recent collaboration with The Therapy Platform in mental health therapy space, demonstrating Fischer MVL’s commitment to elevate the offerings and innovations in mental healthcare.

According to a report from The Lancet Global Health, almost 1 billion people worldwide suffer from a mental disorder. The mental health market size is valued at $399.7 Billion in 2023 and is projected to grow to $530.5 Billion by 2032. Despite the big market, however, mental health diagnostic has been lagging in innovation. Most patient rely on psychiatrists for diagnosis but this approach is time-consuming, costly and presents social stigma, reasons that typically deter patients from seeking early assessment and result in delayed treatment.

In contrast, Wonder Tech’s voice biomarker diagnostic solution stands out for several reasons: user-friendly, unbiased, and more scalable through mobile phone capture without additional hardware. Acting as an AI triage, it enables a more personalised, comfortable diagnosis through a private medium.

This strategic partnership between Fischer MVL and Wonder Tech Group exemplifies a joint commitment to innovation, accessibility, and excellence in mental healthcare delivery, setting a new benchmark for the industry globally.