Qiming backs China rehabilitation services provider

Nisa Leung, managing partner at Qiming, will join LIH's board following the transaction.

Founded in 2013, LIH sets up and operates rehabilitation medical institutions. It has partnered with theh US-based Children's Specialized Hospital to establish facilities in Beijing, Shanghai and Shenzhen, and also built its own senior rehabilitation hospitals in Kunming. In addition to setting up new facilities, LIH supplies consulting services and nursing training programs to existing providers.

As part of the deal, Qiming will help the company expand its international partnerships and build more hospitals in first- and second-tier cities including Hangzhou and Chengdu over the next two years, according to a release. 

Qiming closed its fifth US dollar-denominated China VC fund at $648 million earlier this year. It subsequently raised a renminbi-denominated vehicle of RMB1.5 billion ($225 million). The GP is currently targeting $100-150 million for a healthcare-dedicated fund that will help China- and US-based start-ups expand in both markets.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Qiming Venture Partners
• Venture