Carlyle, Cathay Capital, PingAn jointly invest in Meinian Onehealth

Cathay Capital will make the investment through its $200 million Sino-French fund, which was launched last year with investments from French state-owned bank Caisse des Depots Group and the state-owned China Development Bank.

Last year, Carlyle acquired a 13.5% stake in the company for an undisclosed sum in Meinian via Beijing Carlyle Investment Center, its joint venture renminbi fund with the Beijing municipal government.

Founded in 2004, Meinian Onehealth offers general medical examinations, disease screening and services such as doctor referrals and traditional Chinese medical services to individual and corporate customers.

The new capital injection will be used to develop Meinian's business by expanding its networks and improving its medical services, according to a statement. To date, it operates over 100 clinics in 45 cities. It aims to open 200 check-up centers by 2015.

"We are optimistic on China's preventive healthcare industry future growth. Meinian is a leading player in the industry, providing high-quality healthcare check-up services in China," said Junyuan Feng, managing director of The Carlyle Group.

Ping An has made a handful of investments in hospitals, pharmaceuticals, healthcare sectors in the past.

AVCJ Research shows Meinian acquired an entire stake in Shenzhen Regular Hospital Management Investment, a Guangdong-based medical clinics operator, last year.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• The Carlyle Group
• Growth capital
• healthcare