TAIPEI (Taiwan News) — Taiwan electronics manufacturer Foxconn announced Wednesday (Feb. 10) that it is partnering with British healthcare startup GyroGear to produce and market products using smart wearable technology.

The collaboration will see Foxconn invest £1 million (US$1.38 million) and secure a seat on the board of the company. It will play a major role in promoting the company’s signature product – GyroGlove, a smart wearable device — across the Asian region, wrote CNA.

GyroGlove is a glove that can be attached to the back of the hand to reduce tremors. By employing an electronic and adjustable gyroscope, the glove helps people with Parkinson’s disease who suffer from shaky hands, restore the quality of life through better control of the hand.

Foxconn and GyroGear will build an R&D center in Taiwan for the development of software, applications, and devices in digital healthcare. The initiative will incorporate AI machine learning as well as clinical big data research, according to the company.

The venture is part of Foxconn’s bid to explore possibilities on the back of its manufacturing strengths. The cooperation is expected to drive up its profitability due to the tremendous business potential of smart healthcare.