Fosun Pharmaceutical Invests USD 65 Mln Stake in Online Health Firm Guahao
Fosun, 11/30/15
Shanghai-based pharmaceuticals maker, distributor, and retailer Fosun Pharma (600196.SH; 2196.HK) has announced that its wholly-owned subsidiary Regal Gesture plans to acquire 39.66 mln shares of preferred stock in the Hangzhou-based operator of online hospital appointment-booking website Guahao for USD 65 mln, representing a 9.73% stake. According to Fosun Pharma's announcement, other companies purchasing preferred stock in Guahao during this round of funding include Beijing-based private equity fund Hillhouse Capital Management, Goldman Sachs subsidiaries, and Chinese internet and mobile services firm Tencent (0700.HK) subsidiaries, among others. A total of 183 mln Guahao preferred shares are available as part of the company's Series E funding.
As of September 30, Guahao had covered 25 provinces, formed partnerships with more than 1,600 hospitals, and was working with 190,000 physicians. The number of users had reached 77 mln, with the number of services rendered estimated at approximately 170 mln.
In September this year Guahao completed USD 394 mln Series D funding.
Editor's Note: According to a same-day statement on November 30 by Zhang Xiaochun, CEO of Guahao, Fosun's investment was actually part of Guahao's Series D funding in September this year. For more information on Guahao's Series D funding round, please see "Online Medical Platform Guahao Raises USD 394 Mln in New Funding," MD 9/24/15 issue. Based on a public filing by Fosun on December 1, 2015, Tencent's Yangzi River Investment Limited held a 1% stake in Guahao.com as of December 1, 2015.
Keywords: M&A Internet funding Tencent Goldman Sachs Fosun 0700.HK Hillhouse Capital Series E Guahao Fosun Pharma 600196.SH 2196.HK online healthcare mobile healthcare
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