Centurium Capital has acquired a controlling stake in Beijing Jingdu Children’s Hospital, one of the largest private children’s hospitals in China, as the Beijing-based private equity firm further ups its stake in the country’s healthcare industry.
The company announced the deal in a statement on August 12, without disclosing financial details.
The investment size is understood to be nearly $150 million, according to a source with direct knowledge of the matter, who requested anonymity because the information is private.
The transaction represents the latest investment made by Centurium in the healthcare sector, following its previous bets on two other China-based hospitals, namely Shanghai-based children and women’s medical services firm UIB Group and Beijing Arion Cancer Hospital, which is expected to open by the end of this year.
Beijing Jingdu Children’s Hospital was launched in June 2015 on 40,000-sq m premises. The hospital has 36 specialised departments such as haematology, cardiology, dermatology, and stomatology. It claims to treat nearly 300,000 outpatients and 8,000 inpatients a year.
Centurium, co-founded by the former head of Warburg Pincus Asia Pacific David Li, primarily invests in China’s consumer, services and healthcare industries.
Some of its most high-profile portfolio companies include Chinese electric vehicle (EV) maker Xpeng Motors, which raised about $500 million last month, as well as the country’s express shipping unicorn ANE Logistics and corporate training platform Yunxuetang, in which Centurium led a $300-million deal and a $100-million deal this January, respectively.
It is also a substantial shareholder of Luckin Coffee, China’s Starbucks challenger that admitted to having fabricated millions of U.S. dollars’ worth of sales deals in 2019.
Centurium was reportedly set to reach the first closing of its second USD-denominated PE fund at about $2 billion, according to a Reuters report in March 2020.
It announced in July 2019 that it reached the final closing of its debut U.S. dollar fund “Centurium Capital Partners 2018 LP” at over $2 billion.