Chinese Medical Information Platform LinkedCare Raises Nearly $15M Fresh Funds

Chinese medical information platform LinkedCare has raised RMB100 million (US$14.85 million) in a series C1 round of financing, according to a statement released on Monday.

Investors of this round include China-based venture capital firm Everest Venture Capital and asset management company Taikang Asset Management, a subsidiary of insurance firm Taikang Life Insurance.

LinkedCare, fully known as Shanghai LinkedCare Information Technology Co., was founded in July 2015 to focus on providing software as a service (SaaS) solutions to dental clinics, medical beauty institutions, and general medical institutions. The company’s solutions help connect not only hospitals, clinics, doctors, and patients, but also medical devices, big data, insurance firms, suppliers, internet platforms and third-party healthcare service providers to "redefine the way medical institutions work," said LinkedCare on its website.

LinkedCare provides core businesses of clinics, including electronic health record, customer relationship management, billing, and sterile processing department (SPD) management. The company said it has served more than 16,000 chain dental clinics and medical beauty hospitals.

"Taikang is optimistic about the growth prospects of the dental industry. As a leader in SaaS and supply chain services in dental and medical beauty industries, LinkedCare has covered 16,000 clinics and hospitals," said Xu Jun, head of investment department in Taikang Asset Management.

Upon the completion of the investment, the company will focus on a so-called "SaaS plus platform" business model, which provides medical institutions with products and services, such as SaaS, supply chain risk management (SCRM) and other small mobile applications.

The company raised tens of millions of yuan in a series B+ round from Meituan-Dianping in September 2018, and a series B round from Fusun in September 2017, without disclosing financial details. It also raised RMB70 million (US$10.40 million) in a series A round and a series A+ round respectively led by Chinese healthcare information sharing website and Fosun in 2016.

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