Hong Kong-based real estate private equity firm Gaw Capital Partners on Monday announced that it invested in the latest round of funding for Beijing-based Tencent Trusted Doctors, a healthtech firm backed by Tencent Holdings.
Last week, Tencent Trusted Doctors announced raising a $250-million funding led by Country Garden Holdings, Tencent Holdings and Sequoia Capital.
Born out of a merger between Tencent Doctorwork and Trusted Doctors last year, Tencent Trusted Doctors connects doctors and patients online and offers offline facilities.
Apart from providing capital, Gaw Capital Partners will also help Tencent Trusted Doctors look for suitable locations for leasing, meet strategic partners, and set up an asset-backed platform to acquire properties for specialists’ clinics or medical offices.
Gaw Capital, which has assets under management of $18.2 billion as of the fourth quarter of 2018, has so far raised five commingled funds targeting the Greater China and APAC regions since 2005.
Meanwhile, the investment raised by Tencent Trusted Doctors follows the Chinese government’s decision to roll out a series of supportive policies for Internet-related medical care and social medical services.
Among some of the moves planned to be undertaken by the government is allowing medical institutions to provide online diagnostic services and other actions to support the system of Internet Plus healthcare standards.
Outside its online platform, Tencent Trusted Doctors has developed 50 physical clinics and outpatient surgery centres in China and has over 1,000 health kiosks in operation.
So far, the startup claims to have connected 440,000 licensed physicians with 10 million patients on its platform.
By 2021, Tencent Trusted Doctors plans to open over 500 clinics and day surgery centres and projects to have one million practising physicians using its platform.