Medical tourism enabler Medigo raises $3.5m more from CL Ventures for China foray

Image from Medigo's website.

MEDIGO, a medical tourism facilitator, has secured an additional 3.35 million euro ($3.5 million) after closing an extension round with Chinese venture capital firm CL Venturesthe company said in a statement.

With the latest finance round, MEDIGO has reported a total fundraise of $10 million to date.

Since its launch in March 2014, MEDIGO said it has connected more than 16,000 patients with a clinic or hospital abroad.  It currently offers patients access to over 500 hospitals and clinics in 23 countries worldwide.

In addition to its growing Berlin, Germany headquarters, the company established subsidiaries in Singapore and Australia, which will be fully staffed in the coming months.

The capital from this extension round gives the company additional resources to strategically expand its clinic and hospital network as well as patient services. After opening its Australian office late last year, one of the first expansion offices in the Asian region, its next destination is China.

“CL Global Healthcare is a strong partnership for us as we enter this market,” says Ugur Samut, CEO of MEDIGO.  “This funding underpins our expansion into China making MEDIGO’s services available to Chinese patients opting for care overseas and in parallel, working with China’s own top healthcare centers.”

CL Ventures,  a prominent VC firm in China, has popular mobile app DoctorTree in its portfolio. With extensive experience in the healthcare, real estate, and financial industry, the firm looks to further MEDIGO’s vision for connected, global healthcare.

“We are committed to supporting MEDIGO as it enters the Chinese market,” said CL Ventures CEO, Hong Zhou.

“As demonstrated by its remarkable growth and global expansion since their 2014 launch, it’s clear MEDIGO is a leading medical tourism facilitator and key player in disrupting the broader healthcare industry.”

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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.

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.