healthcare
US medical device maker gets $51m for China expansion
MID Labs, a US-based medical devices manufacturer that focuses on eye surgery, has received $51 million in funding from a group of investors to support its expansion into China.
Ex-Avenue, CLSA executives seek $200m for Asia healthcare fund
Three executives from Avenue Capital, CLSA Capital Partners and VC firm Dinova Capital have teamed up to launch a $200 million mid-cap fund that will make healthcare investments in Asia.
Tencent leads $100m round for Chinese medical service platform
Tencent Holdings has led a $100 million round of funding for Guahao.com, a Chinese healthcare information portal.
J-Star to exit healthcare firm HCM to Alshok Group
Japanese security firm Alshok Group has agreed to acquire Tokyo-based healthcare service provider HCM Corporation, paving an exit for mid-market GP J-Star.
Hony Capital acquires Shanghai Yangsi Hospital
Hony Capital has acquired Shanghai Yangsi Hospital, the largest privately-owned hospital in Shanghai. The deal size was not disclosed but it is said to amount to hundreds of millions of renminbi.
CVC to raise $80m via Jintian Pharma share sale
CVC Capital Partners will raise HK$620 million ($80 million) through a block trade of shares in Jintian Pharmaceutical Group, a Chinese pharmaceutical retailer and distributor.
3i completes med-tech upscale job
When John Thomson, head of 3i Group’s Southeast Asia business, met Singaporean entrepreneur Jay Pok in the mid-2000s, he was on the lookout for a medical technology investment. But Pok’s company, medical cable maker LHi Technology, though impressive,...
NZ regulator targets Archer consortium over aborted Abano deal
A consortium of investors including Archer Capital is subject to a civil action launched by New Zealand’s Financial Markets Authority (FMA) over an unsuccessful bid for Abano Healthcare Group.
3i exits Asian medical device maker LHi to US trade buyer
3i Group has exited LHi Technology – a medical equipment manufacturer bought from Baring Private Equity Asia in 2008 – to US-based Carlisle Companies for an enterprise valuation of around $195 million, claiming a 2.9x money multiple.
CVC-owned SPi to sell US healthcare business for $235m
SPi Global, a Philippines-based business process outsourcing (BPO) provider owned by CVC Capital Partners, has agreed to sell its US healthcare business to Conifer Health Solutions in a deal worth $235 million.
Singapore supports med-tech accelerator program
Spring Seeds Capital, an investment arm of government-backed Spring Singapore, has launched an initiative that could channel up to S$60 million ($47 million) into local medical technology start-ups.
Blackstone pins down China's Xinrong
Driven by an aging population, increasing health awareness and a rising middle class, China's medical device market is growing at a rapid pace. A recent report by the Hong Kong Medical and Healthcare Device Industries Association reveals that since 2000...
Blackstone in China orthopedics play
The Blackstone Group has picked up a significant stake in Chinese medical devices company Xinrong Best Medical Instrument. Financial details were not disclosed but the deal is understood to be worth around $100 million.
India Value Fund picks 10% stake in Biocon research unit
India Vaue Fund Advisors (IVFA) has bought a 10% stake in Syngene International, the research unit of Indian bio-pharmaceuticals firm Biocon, for INR3.8 billion ($62 million).
Xiaomi Ventures backs China health products maker
Xiaomi Ventures, a corporate VC unit of Chinese mobile phone maker Xiaomi, has paid $25 million for a 20% stake in iHealth, an offshore unit of healthcare electronics maker Andon Health.
VCs back Zai Lab drug development model
Few VC firms are keen to invest in China's early-stage drug discovery space because the development cycle is long and risky. Taking a new drug from clinical testing to commercialization often takes 7-10 years and the success rate in China is less than...
China stem cell storage firm launches $813m M&A fund
Zhongyuan Union Stem Cell Bio-engineering, a Chinese stem cell storage service operator, has partnered with China Yinhong Capital to launch an industry M&A fund with a target of RMB5 billion ($813 million).
OrbiMed commits $15m to China's GC-Rise Pharma
OrbiMed has committed $15 million in Series B funding to GC-Rise Pharmaceutical, a Chinese healthcare services provider.
Tencent pumps $70m into China healthcare networking site
Tencent Holdings has invested $70 million into dxy.com, a Chinese networking and information-sharing site for healthcare professionals
China's Zai Lab raises $30m Series A round
Qiming Venture Partners has led a $30 million Series A round of funding for Zai Lab, a Shanghai-based biotech drug developer, with participation from KPCB, Sequoia Capital and TF Capital.
Hony raises $528m with another part exit from CSPC Pharma
Hony Capital has made its second partial exit from CSPC Pharmaceutical Group in three months, selling an 11% stake in the Hong Kong-listed Chinese generic drugs maker for HK$4.01 billion ($528 million).
CITIC PE exits Jialin Pharma via trade sale to Luye Pharma
CITIC Private Equity will exit a 10.26% stake in Beijing Jialin Pharmaceutical after Luye Pharma Group, a Chinese drug maker, agreed to buy a majority stake in its industry peer.
Advent supports Australia radiology merger
Advent Private Capital has created the fourth-largest radiology group in Australia by bringing together two independent diagnostics businesses, Lake Imaging and South Coast Radiology.
Sequoia invests $139m in Chinese medical equipment maker
Sequoia Capital has acquired a 7% stake in Jiangsu Yuyue Medical Equipment & Supply, a Chinese medical equipment manufacturer, for RMB856 million ($139 million).