Foxconn To Invest $30 Million In Robocore For Medical Robotics Expansion

(MENAFN- The Arabian Post)

Foxconn Technology Group has committed to investing $30 million in Robocore, a robotics firm specialising in medical and elderly care solutions. This move marks the company's strategic push into the rapidly growing healthcare robotics sector, a field poised to revolutionise the care of ageing populations globally.

Robocore, based in Taiwan, develops advanced robotic systems designed to assist elderly people with daily activities, enhancing their mobility, independence, and overall quality of life. The company's innovative technologies include robotic exoskeletons, smart wheelchairs, and mobile robots that help manage patients in home and healthcare settings.

This investment aligns with Foxconn's broader ambitions to diversify its operations beyond consumer electronics. As a leading supplier of components for companies like Apple, Foxconn is now positioning itself to play a key role in the burgeoning market for medical devices and robotics. The healthcare sector represents a new frontier for Foxconn, which is seeking growth avenues that extend beyond its traditional focus on electronics manufacturing.

The global elderly care robotics market is expected to see rapid expansion in the coming years, driven by the ageing population in developed countries and an increasing demand for home-based care solutions. As populations in Europe, Japan, and North America grow older, the need for technologies that assist elderly people in daily tasks will only rise. According to industry analysts, the elderly care robotics market could surpass $20 billion by 2030, with technological advancements and greater acceptance of robots as care providers pushing the market's growth.

Foxconn's decision to fund Robocore also reflects the company's recognition of the growing role of automation in healthcare, a sector that is becoming more reliant on technology to address challenges such as workforce shortages and the demand for better-quality care. The partnership is expected to leverage Foxconn's manufacturing expertise and Robocore's cutting-edge research in robotics to deliver innovative solutions to healthcare providers worldwide.

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The funding will enable Robocore to accelerate its research and development efforts, allowing the company to expand its product offerings and refine existing technologies. Robocore is currently in the process of enhancing its exoskeleton robots, which are designed to help individuals with mobility impairments regain some level of independence. The robots use sensors and AI algorithms to support users in walking and performing daily tasks, with applications ranging from rehabilitation to long-term elderly care.

Robocore is also developing mobile robots for use in hospitals and care homes. These robots are intended to assist medical professionals by delivering medications, monitoring patient conditions, and providing companionship to the elderly. These devices are equipped with AI-powered communication tools that allow them to interact with patients and healthcare workers, improving the efficiency and effectiveness of care delivery.

The elderly care robotics sector is attracting increasing interest from investors and tech companies, as the demand for such solutions continues to grow. Governments around the world are also recognising the potential benefits of robotics in alleviating the strain on public health systems caused by an ageing population. In many regions, the focus is shifting towards preventative care and independent living for the elderly, with robotics playing a central role in this shift.

Foxconn's investment is not the first step the company has taken into the medical technology sector. The company has previously partnered with various firms to explore opportunities in the healthcare field, including joint ventures aimed at developing medical devices and solutions. However, this latest deal with Robocore represents a significant move into robotics, a field where Foxconn sees substantial potential for future growth.

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The company's involvement in medical and elderly care robotics is expected to continue expanding, with further investments likely in the near future. As the global demand for robotic-assisted care solutions increases, Foxconn's technological capabilities, coupled with Robocore's specialised knowledge in the field, will position the two companies to lead the way in the healthcare robotics market.

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