Singapore’s Sheares Healthcare leads $100m Series B round in China-based AllinMD

China-based AllinMD Orthopaedics Hospital has snagged $100 million in a Series B round of financing led by healthcare-focused Sheares Healthcare Group that is wholly-owned by Singaporean sovereign wealth fund Temasek Holdings.

The investment claimed to be one of the largest deals in China’s internet healthcare industry also saw the participation of Tencent Holdings and Shanghai-based investment company Trustbridge Partners, according to a recent statement on the WeChat official account of China Renaissance, which advised on the deal.

AllinMD was founded in 2013 by Liu Zhengrong, a former Chinese investor and a cancer survivor. Leveraging big data and artificial intelligence (AI) technologies, the company operates a healthcare platform that automatically matches doctors with relevant expertise based on profile uploaded by registered patients.

The platform also helps patients arrange follow-up online and offline treatment, and provides doctors with online medical training services. The company has so far connected over 150,000 doctors and more than 170,000 hospitals with patients.

The six-year-old company plans to use the proceeds to integrate resources and expand its connections with the offline medical network. The company will also optimize its diagnosis and treatment services, and further promote the systematic education to help nurture high-quality doctors.

AllinMD raised an equity investment from Chinese private equity company Beijing Wedo Capital Management in August 2018. The company also closed $27.7 million in a Series A+ round from investors including Trustbridge Partners and Zhejiang Jinke Culture, a Chinese firm that manages intellectual property products. In January 2016, Trustbridge Partners invested $10 million in its Series A round.

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.