(Yicai Global) May 10 -- We Doctor Holdings Ltd. secured USD500 million in pre-initial public offering financing, led by strategic investors AIA Group Ltd. and NWS Holdings Ltd., state news outlet The Paper reported yesterday.
The funding round is the largest pre-IPO financing currently completed in China's healthcare technology sector. At its conclusion, We Doctor will be valued at USD5.5 billion. The firm's plan to spinoff its medical unit for Hong Kong listing is also progressing smoothly, the report said.
The company will vigorously promote the construction of We Doctor Cloud, its new health maintenance organization and smart medical cloud platform, We Doctor said. At the same time, it has reached a long-term strategic cooperation agreement with AIA, a lead investor of the funding round. AIA will become We Doctor's preferred provider of insurance solutions and the healthcare services on the latter's platform will also be open to AIA customers.
We Doctor is a healthcare technology platform Jerry Liao and his team founded in 2010. It mainly engages in healthcare, medicine, insurance and medical cloud. We Doctor works with governments, hospitals, doctors, pharmaceutical companies, and financial institutions to build a future-oriented new medical service system. The platform now connects more than 2,700 hospitals, 220,000 doctors, 15,000 pharmacies and 27 million monthly active users, public data show.
Editor: Ben Armour