Sequoia, GL Ventures co-lead over $100m funding in China’s Access Medical Systems

Photo by Hush Naidoo on Unsplash

Access Medical Systems (AMS), the parent company of Matrix Partners China-backed ET Healthcare, has raised over $100 million in a new funding round co-led by Sequoia Capital China and GL Ventures, per an announcement.

The round also saw the participation of a clutch of new investors Dr. Kai-Fu Lee’s Sinovation Ventures, US-based Kaiser Permanente, investment firms WisdoMont and Qianlong Capital.

Existing investors like Matrix Partners China, Qiming Venture Partners, and Legend Capital also made follow-on investments.

Investment bank Gelu Capital facilitated the transaction.

While AMS plans to use a significant part of the corpus to spruce up its technology innovation, it has also earmarked a portion to expand its product R&D, overseas market and manufacturing capacity, it said in a statement.

Since its inception in 2004, AMS specialises in areas of critical care, obstetric and gynaecology and has produced a pipeline of medical devices for cardiology, diabetology and vascular diagnostics.

The company owns two flagship brands – ET Healthcare, Gator Bio. While ET Healthcare is an in-vitro diagnostics company that manufactures central laboratory analysers for hospitals and clinics, Gator Bio caters to life sciences and offers instruments to accelerate new drug developments.

Its clients include Hong Kong-listed pharmaceutical firm Simcere, biotech player GenScript Biotech, Thousand Oaks Biopharmaceuticals, Shanghai Jiao Tong University School of Medicine, among others. 

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.