(Yicai Global) Dec. 18 -- Medical technology service provider Hangzhou Tigermed Consulting Co. [SHE:300347] will set up a USD60 million medical and health industry fund to invest in high-quality foreign medical enterprises that are either in the growth or mature stages.

Tigermed's wholly-owned subsidiary TG Sky Investment Ltd. plans to use its own USD20 million to jointly form a medical and health industry dollar investment fund with TF Venture Capital Management Co., a fund named Taitong Fund III LP, Tigermed said yesterday.

This dollar-denominated fund will avail itself of Tigermed's expertise and advantages to seek out excellent investment targets in the domestic and overseas medical and health service markets to amplify the company's investment capability and generate new growth drivers.

Tigermed unit Hong Kong Tigermed Technology Co. has recently also set up its own subsidiary -- Tigermed Swiss AG in Switzerland -- to seizecooperative opportunities with European research institutions and service providers to offer domestic customers with more choices for international clinical tests and expand the company's global business presence, its parent also said.