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WeDoctor raises US$500 million in private share sale


South China Morning Post

WeDoctor Holdings, an online health care services provider backed by Tencent Holdings, has completed a US$500 million private share sale, in the second major equity financing deal in China’s nascent “health-tech” sector in three weeks.
The share sale is “the largest pre-IPO financing ever in China’s technology-based medical and health care sector”, valuing the start-up at US$5.5 billion (HK$43 billion), the Hangzhou-based medical information and online consultation provider said in a statement on Wednesday.

Medical insurance major AIA Group and tycoon Henry Cheng Kar-shun’s infrastructure conglomerate NWS Holdings are the largest buyers in this round of equity fundraising.

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