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Baidu leads $40m round for China healthcare site

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Chinese search engine Baidu has led a $40 million Series B round for Quyiyuan.com, a Shanghai-based medical consultation and service-booking mobile app.

Existing investors SoftBank China Venture Capital (SBCVC) and HighLight Capital also participated. The two parties provided $8.5 million in a Series A round for the company in September of last year.

Quyiyuan.com spun out from mobile healthcare services provider Shanghai KingYee in 2013. Last month, KingYee completed a RMB221 million ($36 million) Series C round of funding led by Sensegain Investment, with participation from SBCVC and HighLight Capital.

The Quyiyuan app is a platform through which patients can book medical services, make payments and collect medical records provided by healthcare centers. There is also a separate app offering video chat services between doctors and patients. 

The new funding will be used to expand the company's services and help traditional hospitals go online, CEO Zhi Li told 36kr. Quyiyuan is about to launch a new product with a view to connecting hospitals and medical equipment suppliers.

At present Quyiyuan has more than 1,000 public hospitals on its platform and is targeting 2,000 members by the end of this year.

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