Meinian Onehealth Obtains $49M Investment From Carlyle And Others

Shanghai-based Chinese health checkup clinic firm Meinian Onehealth Healthcare (Group) Co. announced that it has secured joint investments totaling RMB300 million yuan ($49 million) from The Carlyle Group, Ping An Insurance (Group) Co. of China and Cathay Capital‘s Sino-French Fund.

Previously, Carlyle acquired 13.5% of Meinian Onehealth in August 2012 for an undisclosed amount.

Meinian Onehealth is the largest health checkup clinic company in China with more than 100 health checkup clinics and medical centers. In 2013, it expects to serve more than 5 million customers with a growth rate of 50 percent.

The company says it will use the proceeds to expand its clinic network and improve patient experience. Its executives told local reporters that the company is hoping for a listing on China’s A share market.

The Chinese health checkup market has grown to RMB50 billion ($8.17 billion) after rapid growth in recent years, attracting the interests of large private equity firms.

The second largest checkup company, Beijing-based Ciming Health Checkup Management Group has obtained approval last July from China’s Securities Regulatory Commission to list on the Shenzhen Stock Exchange. CDH Investments and Ping An Innovation Capital were backers for Ciming.

In April, another large health checkup firm, IKang Guobin Healthcare Group received a US$100 million investment from Goldman Sachs Group and the Government of Singapore Investment Corp.

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