China’s DeltaHealth snags $100m in funding led by Swire Group

Eight Roads-backed DeltaHealth, an innovative healthcare services provider specializing in cardiovascular diseases, has raked in over $100 million in a new round of financing, per a company statement on Friday.

Swire Pacific Limited, a Hong Kong-based conglomerate that owns majority equity interests in Swire Properties and Pacific Airways, has led the round. Eight Roads also made follow-on investments.

The capital injection makes Swire Pacific the second largest investor in DeltaHealth, which is looking to work on its cardiovascular strategy, among others.

Last year, DeltaHealth Hospital performed 294 aortic surgeries, ranking second in Shanghai. Subsequently, in 2021, the hospital has successfully conducted the first transcatheter heart valve replacement (TAVR).

In 2016, Fidelity’s investment arm Eight Roads pumped in capital in DeltaHealth. The company now owns two flagship sub-brands – Shanghai DeltaHealth Hospital, and outpatient medical clinic DeltaWest Clinic.

Going forward, Shanghai DeltaHealth Hospital plans to ramp up efforts to expand its surgical specialities in a bid to provide quality healthcare services to local and expats in the city.

“As Swire expands its healthcare portfolio, I believe it can lead to potential synergies with DeltaHealth. Its solid background in property development will also be of great value to us as we build out phase two in the future,” said DeltaHealth CEO David Hoidal.

“Our strategy is to invest in…healthcare service providers which serve the rapidly growing middle class in major city clusters where we already have a presence,” added Swire Pacific Limited chairman Guy Bradley.

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. 
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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.