China’s United Imaging Healthcare raises $509m Series A
Shanghai United Imaging Healthcare, a China-based medical imaging device maker, has completed a RMB3.33 billion ($509 million) Series A round of funding co-led by state-backed SDIC Fund Management and China Life Healthcare Fund.
The round – which valued the company at about $5 billion – is said to be the largest single investment in the Chinese medical equipment industry, according to a statement. Other investors include China State-Owned Capital Venture Fund, China International Capital Corporation’s PE unit Zhongjin Zhide, CITIC Securities, CDB Capital, and Shenzhen Zhaoyin Dianxin Equity Investment Fund. The latter is a PE investment vehicle under China Merchant Banks International.
Founded in 2011, Shanghai United Imaging is currently the only full-line supplier of advanced diagnostic imaging and radiation therapy equipment in China, manufacturing computerized tomography (CT), magnetic resonance imaging (MRI), and digital radiography machines. It also provides medical IT solutions and technical training for Chinese healthcare institutions.
In May, the company unveiled the world’s first full-body positron emission tomography (PET) scanner, which was jointly developed with Explorer, a multinational medical equipment player. The device scans the entire body and produces live 4D images, which can help detect early tumor lesions. It can also monitor human body’s responses to different drugs.
Following the new funding, the company plans to develop new products and provide better healthcare solutions.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.