Centurium acquires stake in Beijing-based children’s hospital for $150m

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.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.