Tencent, Wu Capital Lead $142M Series D+ Round In Chinese Medical Service Platform Medbanks

Chinese medical service platform Medbanks has raised about RMB1 billion (US$142 million) in a series D+ round of financing led by Tencent and Wu Capital.

Existing investors including Eight Roads, F-Prime Capital, IDG Capital, and a fund jointed established by CICC and CEC also participated in this round.

Medbanks was founded in 2014 to engage in the development of intelligent diagnosis and treatment systems and provide a professional tumor database, clinical research support, patient community support and intelligent pathology systems for health institutions.

The company has established a nationwide special drug service networks and professional clinical medicine and medical networks, covering all kinds of tumors and consisting of 3,000 medical experts.

"We are optimistic about the social reform of China’s medical security system, and recognize Medbanks’ accumulated industry experience and international vision. We are willing to support the continuous innovation and exploration of Medbanks in the field of medical services," said Zhang Yan, CEO of Wu Capital.

The company has established three business headquarters in Guangzhou, Beijing and Shanghai, and its business network covers 30 provinces across the country. The clinical trial business group of Medbanks has won wide recognition from major multinational pharmaceutical companies, large local pharmaceutical companies, and emerging biotechnology companies.

(This article is translated from Medbanks. You can see the original article in Chinese here.)

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