Carlyle-backed Meinian Onehealth invests in rival Ciming Health

Financial terms were undisclosed but Ciming's founder remains the controlling shareholder of the company, according to local media. CDH Investments and Tiantu Capital are both investors in Ciming.

Two companies will work together on a number of initiatives, including data sharing, setting up industry practice standards and market expansion, noted a statement.

Founded in 2004, Shanghai-based Meinian offers preventive healthcare check-up services, including general medical examinations, disease screening and services such as doctor referrals and traditional Chinese medical services to individual and corporate customers. It covers over 40 cities, operating about 110 check-up centers.

Carlyle took a 13.5% stake in Meinian in 2012 via Beijing Carlyle Investment Center, its joint venture renminbi fund with the Beijing municipal government. In 2013, the health checkup firm raised a combined of RMB300 million ($39 million) from Carlyle, Ping An Insurance and Cathay Capital.

Founded in 2002, Ciming owns 19 wholly-owned subsidiaries and 80 franchised centers in 20 Chinese cities. AVCJ Research records show that CDH invested in two rounds of funding in the company between 2005 to 2006. China Life Insurance acquired an undisclosed stake in 2007. In 2009, Tiantu committed a further $7.32 million.

Ciming obtained regulatory approval to list on the Shenzhen Stock Exchange in July 2013 but an IPO has yet to materialize.

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• Topics
• Greater China
• Healthcare
• China
• healthcare
• The Carlyle Group
• M&A
• CDH Investments Management
• Cathay Capital Private Equity