Chinese Healthcare Platform Miaoshou Doctor Closes $84M Series D Round

Chinese online healthcare services provider Miaoshou Doctor has recently raised RMB600 million (US$84.63 million) in a series D round of financing from Qiming Venture Partners, Sequoia Capital China, INCE Capital, CITIC Securities, Index Capital and other investors.

Proceeds of the new round will be used in the joint development of their online hospital, medical technology, prescription management, and health insurance.

The investment came after Miaoshou Doctor completed a series C3 round of financing led by Starquest Capital in June 2019. The previous round valued the company at over US$1 billion and made it become a new-born unicorn in the internet plus healthcare space.

Founded in 2015, Miaoshou Doctor operates as a medical consultation services provider and online pharmaceuticals marketplace. The company provides services through various channels including an online hospital, a mobile application, an online business-to-consumer (B2C) shopping website, and an online community for hospitals to share prescriptions, creating a new health management model of "healthcare + drug + insurance" based on Internet technology.

“Miaoshou Doctor’s growth is a continuous development process that focuses on industrial development,” said the company CEO He Tao. “Medical and pharmaceutical industry is a serious industry. Only professional services can win the recognition of customers. Therefore, Miaoshou Doctor will always focus on the three key points "medicine-drug-insurance" to provide high-quality services for patients and partners.”

The company previously closed a RMB500 million series C round from Tencent, Sequoia Capital, Qiming Venture Partners, and Kunling Capital in April 2018.

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