The latest deal development in China has seen contract research firm Nuokangda Pharmaceutical Technology Co. Ltd. has raised RMB160 million ($23 million) from Chinese private equity firm HG Capital. Other deals in this health and pharma space has seen Shanghai-based pediatric care Rainbow Children’s Clinic raise RMB70 million ($10 million) from Chinese funds to open more locations. In another development, Forerunner Medical (Shanghai) Co., Ltd. has obtained an undisclosed amount of funding in a series B round from a Medtronic-Sequoia joint investment vehicle. Forerunner also announced that it has completed the acquisition of MedSphere International’s unit MedSphere Shanghai.
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