We Doctor Holdings Limited (WeDoctor), a Chinese technology-enabled medical and healthcare solutions platform, has closed a USD500 million financing led by AIA Company Limited and NWS Holdings Limited.
Existing shareholders and new investors including CICFH also participated in the round which marks the largest pre-IPO financing ever in China’s technology-based medical and healthcare sector, and brings WeDoctor’s valuation to USD5.5 billion upon completion.
This round of investment brings together a number of renowned market leaders across sectors with complementary strengths and exceptional capabilities to further enhance WeDoctor’s platform and long-term growth. WeDoctor plans to collaborate with its strategic investors to reinforce its position as the leading industry player. It is committed to promoting the synergies in the open ecosystem of WeDoctor Healthcare, WeDoctor Insurance, and WeDoctor Pharma, and the robust and rapid growth of WeDoctor Cloud in the realm of smart healthcare.
Following the investment and the agreement of a Strategic Partnership, AIA will become WeDoctor’s preferred provider of life and health insurance solutions. Both parties are aligned in their intent to provide innovative and high quality offerings that improve the health and wellbeing of people in China and around the Asia-Pacific region.
“We are thankful for the trust our existing and new investors have put in us. Their investments reflect a shared mission of offering premium healthcare services via innovative technology,” says Jerry Liao, Chairman and CEO of WeDoctor. “As China’s unprecedented healthcare industry reform continues, WeDoctor will continue to tap into opportunities in this flourishing and enormous market. We have jointly established with our business partners a unique business model that encompasses the integration of ‘online + offline’ and ‘GP + specialist’ operations. As our business grows, we are also making notable progress in applying cloud-based technology and artificial intelligence in the provision of healthcare services. The addition of AIA and NWS Holdings as our new strategic investors will empower us to accelerate expansion and generate synergistic win-win benefits.”
John Cai, Regional Chief Executive, AIA Group, says: “We see this partnership as part of our ongoing ambition to interact with our customers at every important stage of their lives. The strength of AIA’s market position in life and health insurance together with WeDoctor’s leading technology platform and quality healthcare provider network, support AIA’s commitment to play an active and valued role in our customers’ health and wellness journeys. We look forward to working together with WeDoctor to improve the provision of quality and affordable healthcare for millions of people across China.”
Brian Cheng, Executive Director of NWS Holdings, says: “NWS Holdings has been making substantial investments in the clinical and healthcare management sector. The investment in WeDoctor confirms our confidence in the prospect of this market. We will continue to build our expertise and invest in various healthcare platforms to improve the well-being of human lives especially in China.”
