GGV Capital has led a RMB85 million (US$13 million) series B round in the China unit of Malo Clinic Health & Wellness Group, a Portuguese dental clinic chain.
Several local Chinese investors and existing investor HighLight Capital also participated in the round.
"Dental health is a highly specialized service sector, just as other medical services. We have been seeking teams with technological and talent advantage, as well as those with modern healthcare values," says Jin Jiong, a GGV partner in charge of healthcare.
In July 2014, Malo Clinic’s China business received an undisclosed series A round from HighLight Capital, a local RMB-denominated healthcare private equity fund.
The company accelerated expansion afterward, increasing its networks to 11 dental clinics and two artificial teeth manufacturing centers in China.
Founded in 1993, Malo Clinic operates 127 dental offices with 70 medical offices dedicated to specialty treatment around the world.