Chinese eye hospital chain Chaoju raises $59m

Founded in 1988, Chaoju has more than 30 hospitals in 30 cities across six provinces, including Inner Mongolia, an autonomous region of northern China. It claims to serve more than 1 million patients a year on average.

“Along with the rising income and aging population, the demand for high quality healthcare services will only get larger, and we are betting on Chaoju to become the leader in this segment based on its long operating history,” said Chen Mao, managing director at Orchid Asia.

The number of eye hospitals in the country increased from 288 in 2011 to 410 in 2014, according to markets consultancy Qianzhan. Myopia and cataract are the two most common eye diseases in China. However, Chen observers that the country still suffers from relatively low eye care service penetration rates, especially in cataract surgery.

Orchid Asia closed its seventh fund at $1.3 billion in January last year. River Head is one of China’s earliest private equity firms serving the local insurance industry and has RMB17 billion in assets under management.

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• Topics
• Greater China
• Healthcare
• Expansion
• healthcare
• China
• Orchid Asia Group Management