SHANGHAI: Neusoft Group Ltd, a leading Chinese software and solutions provider, announced yesterday that Intel Corp has agreed to invest US$40 million in the company to help it strengthen its presence in the health care and financing software market.

The investment is the largest yet by the US$200 million Intel Capital China Technology Fund, launched by Intel last year to invest in Chinese technology companies developing innovative hardware, software and services, according to Arvind Sodhani, president of Intel Capital, Intel's venture investment arm.

The two companies also signed a business co-operation agreement to further their strategic ties in software and hardware integration, education and training.

The agreement will allow Neusoft to build a Solution Performance Optimization Competency Centre based on Intel's architecture and platforms to enhance Neusoft's research and cost-cutting capabilities.

Liu Jiren, chairman and CEO of Neusoft Group, yesterday said: "The co-operation with Intel will help Neusoft enhance its self innovation capability and enable Neusoft to provide better products and solutions in line with international norms for customers, as well as driving the development of China's software industry."

He told China Daily the agreement paved the way for further co-operation especially in the digital health care market.

Neusoft, founded in 1991, is one of the China's largest suppliers of software solutions for the health care market. So far, it reportedly has around 3,000 hospital clients. In total Neusoft has more than 8,000 corporate clients in China, according to company president Wang Yongfeng.

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