09-May-18, South China Morning Post

WeDoctor Holdings, an online health care services provider backed by Tencent Holdings, has completed a USD500 mn private share sale, in the second major equity financing deal in China’s nascent health-tech sector in three weeks.

Chinas WeDoctor raises USD500 mn in private share sale (c) SCMP

Image: SCMP

The share sale is "the largest pre-IPO financing ever in China's technology-based medical and health care sector", valuing the start-up at USD5.5 bn, the Hangzhou-based medical information and online consultation provider said.

Medical insurance major AIA Group and tycoon Henry Cheng Kar-shun's infrastructure conglomerate NWS Holdings are the largest buyers in this round of equity fundraising.

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 Healthcare insights