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Chinese Online Healthcare Startup Raises US$394 mn of Funding, Investor List Includes Goldman Sachs

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Published on : Sep 25, 2015

It was not long ago, when a visit to a hospital in China was a nightmare. A typical sight in a hospital would be thousands of patients running from pillar to post for services. And many would succumb without even receiving treatment. Thankfully, that is history.

With the entry of large number of tech startups in healthcare, things have been fixed phenomenally. One of the largest tech startup Guahao, which is an online healthcare startup offering a variety of services. Firstly, the startup offers quick-booking service, using which patients can take a token number virtually to receive treatment at a hospital, before being physically present at the facility.

Furthermore, the company has a large database, which has information on consultants, specialists, and procedures; and also enables booking option for several other services such as medical appointments and more.

With numerous enticing offerings, the company is slated to become even bigger. Recently, Guahao announced that the company has raised US$394 mn of funding. More than the amount that has been raised, it is the investor list that is impressive, which include Goldman Sachs and Hillhouse Capital, with additional investment from China Development Bank Capital, Tencent, Fosun, and more.

Following the investment, the company has plans to utilize US$300 mn to develop a nationwide internet platform, which will offer diagnosis and treatment. The company plans to invest another US$150 mn for the development of five surgery centers in association with top-end medical companies in China.

In the move, the company plans to change its name to Weiyi Group that will reflect the broader healthcare ambitions of the company. However, the web portal of the company, Guahao.com, will retain the original branding. The health insurance system and mobile app both are going to be named Weiyi. 

The newly renamed Weiyi Group has surpassed completion for funding, amongst several healthcare startups present in China

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