VC-backed China healthcare platform raises $20m
We Doctor Group, a Chinese online healthcare information portal formerly known as Guahao.com, has raised a further $20 million from Shanghai-listed property developer Shandong Tyan Home.
According to a filing, Shandong Tyan invested through an LP commitment in a domestic limited partnership. We Doctor said on its website that it plans to raise $450 million this year to develop an in-house doctor team and several regional surgical operation centers.
Founded in 2010, the company launcehd Guahao.com as an online platform to connect hospitals, doctors and patients. Early backers included Cybernaut Capital, F&H Fund Management and Morningside Ventures. Tencent provided a $100 million round in 2014 and then last September Hillhouse Capital and Goldman Sachs led a $394 million Series B round. Fosun Group, Tencent Holdings and China Development Bank Capital also participated.
The company rebranded under the umbrella name of We Doctor Group as its business expanded to include mobile app We Doctor and healthcare insurance unit Accountable Care Organization, as well as Guahao. As of December last year, Guahao covered 1,900 hospitals nationwide. About 190,000 doctors had used the platform to make patient appointments - based on location, medical specialties and other criteria - with over 100 million online registered users.
Users can access the We Doctor app through Tencent's instant-messaging services WeChat and QQ. It helps people locate hospitals and doctors, schedule appointments, make online payments and obtain medical reports.
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