Qiming leads Series B for Chinese hospital chain operator

Other participants include Maison Capital and Kerry Properties. Maison led the Series A. The fresh capital will be used to improve the quality of services, recruit more doctors, and set up more outpatient departments, according to a statement.

SinoUnited was established in 2016 by Chinese and foreign doctors. The company currently has four clinics in Shanghai, providing services that range from disease prevention to plastic surgery. It also has departments dedicated to medical support for corporate clients and at sporting events.

Around half of SinoUnited patients are foreigners who come from more than 10 countries, said Haoying Shi, an executive at the company. Shi added that this has helped internationalize the medical system in Shanghai.

“SinoUnited is unique in that it was a medical chain set up and managed by a group of doctors. We have witnessed rapid growth in the past three years and fully believe this growth rate will be maintained in the future,” said Yingyu Liang, a managing partner at Qiming.

In recent years, the Chinese government has eased restrictions on private investment in the hospital space with a view to reducing its own financial burden. PE firms have responded with a spate of hospital acquisitions and investments, including plans to build some facilities from scratch.

General Atlantic invested $150 million last year in Chinese cardiology hospital operator Hong Kong Asia Medical, which targets middle-class patients who pay for treatment through the national health insurance system. Meanwhile, KKR has launched a China hospital management and investment platform known as SinoCare Group that will pursue a consolidation strategy in the space through a combination of acquisitions and new builds.

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