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Tencent leads $80m round for China’s Miaoshou Doctor

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Tencent Holdings has led a RMB500 million ($80 million) Series C round for Miaoshou Doctor, a China-based healthcare services provider.

Kunling Capital, Sequoia Capital China and Qiming Venture Partners also took part in the funding round. The new capital will be used to expand the business and develop its technology, Miaoshou said in a statement.

Founded in 2015, Miaoshou operates an online platform that connects doctors and patients. Doctors can provide healthcare consultations and manage patients’ health records through the app. In addition, Miaoshou runs self-owned pharmacy stores in 32 Chinese cities including Beijing, Shanghai, and Guangzhou, offering prescription and healthcare education to patients. The company has also established a healthcare services network with third-party drug manufacturers and specialist hospitals.

“Miaoshou have developed a solid business model by combining online and offline healthcare services. We believe this business model will allow the company to make a greater progress in improving medical efficiency and patient follow-up services,” Yifei Mu, an executive director at Tencent, said.

Tencent has previously invested in several online healthcare services platforms, including We Doctor Group - formerly known as Guahao.com - dxy.com, Medlinker and Huakang Mobile Healthcare.

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