Shanghai MediTrust Health Technology Co. Ltd. (“MediTrust”), a preeminent provider ofonline healthcare solutions in China and a Sinovation Ventures portfolio company, has declared the conclusionof a Series C+ funding round with HSBC Group as a strategic investor.
MediTrust'spresent strategic stakeholders include ShanghaiPharma, China Life Reinsurance Company, Shanghai Healthcare Capital, and other renowned local and global investment institutions. HSBC's investment bodes well for the company's growth.
Richard Yang, General Partner atSinovation Ventures, commented on the difficulty of securinginvestment from a world-class strategic investor in a challenging environment. The healthcare industry offers a bright future, in sharp contrast to the economic turbulence of 2022. At the 41st J.P. Morgan HealthcareConference, investors displayed a keen interest in digital health services, pharmaceutical benefits, and healthcare payment management. Richard is sanguine about MediTrust's ability to maintain its momentum and evolve into a more diversified and international enterprise with the support of its new shareholder partners. He congratulated both parties on the partnership and expressed enthusiasm for future collaboration and progress.
MediTrustwill leverage HSBC's status as a strategic investor to expand high-quality medical services, diversify its product portfolio, and upgrade its intelligent technology. This will pave the way for the development of the industry and ensure sustainable momentum for the transformation and upgrading of China's medical and health services and support platforms.
Delivering exceptional value to the healthcare industryby fostering collaborative partnerships that promote the development of high-quality and innovative healthcare services
MediTrustHealth, a leading inclusive medical service and insurance platform in China founded in 2017, has been providing various universal health insurance and health benefits and services. The company's objective is to create a virtuous circle among industry payers, product and service providers, and customers, by linking patients, pharmaceutical companies, and commercial insurance companies. This will promote the thorough integration of premium health resources and insurance, eventually providing more comprehensive, affordable, and quality health services for every family.
ZhangXiaodong, Founder and CEO of MediTrust,expressed his delight in securing HSBC's trust and investment in several projects. He acknowledged HSBC's status as one of the world's most renowned financial service institutions and both parties' eagerness to see a larger healthcare market in Mainland China. Through this partnership, MediTrust and HSBC will combine their expertise and global capabilities to develop industry-leading healthcare service solutions. Zhang looks forward to working with HSBC to accelerate innovation in healthcare and medical protection services and technology products, and to help build a multi-tiered healthcare protection system in China.
Nuno Matos, Chief Executive, Wealth andPersonal Banking, HSBC, emphasized the strategic focus ongrowing the bank's health, protection, and wealth capabilities in Mainland China and, more importantly, across the Greater Bay Area. The partnership with MediTrust will enable customers to have easy and efficient access to quality healthcare, financially prepare for rising healthcare costs, and adopt more active and healthy lifestyles. Matos also highlighted MediTrust's comprehensive network of pharmaceutical companies, expertise in supporting customers looking for coverage for a wide range of diseases, and innovative product and claims systems.
Focusing on improving national health and providingbetter universal healthcare services
Inrecent years, the Chinese population has demonstrated a heightened awareness of health, spurred on by the Covid-19 pandemic, aging demographics, and other factors. This has translated into a diversified and personalized demand for health products and services at all levels. A growing number of individuals are willing to seek out specialized medical institutions and cutting-edge medical technology at their own expense, as well as purchase health management services.
The 20th National Congress highlighted the strategic importance ofprioritizing people's health and constructing a multi-level, integrated, standardized, and sustainable social security system that encompasses both urban and rural areas. The report also called for expanding the coverage of social insurance.
MediTrustis attuned to the needs of the populace and has integrated its development into the broader trend of building a multi-tiered medical security system. The company is committed to promoting the efficient and high-quality development of the comprehensive health industry by empowering pharmaceutical companies, pharmacies, insurance firms, and medical institutions. Through seamless coordination and full integration of all stakeholders in the industry, MediTrust has successfully connected entire medical scenarios. Presently, the company's medical and pharmaceutical network covers over 300 cities nationwide, with over 200 million services provided and 2 million service recipients in more than 100 cities. MediTrust offers more comprehensive, cost-effective, and superior-quality medical and health products and services to its customers.
Inpursuit of the goal of achieving "Health for All," MediTrust has actively participated in numerous health insurance plans throughout the country that are closely linked to basic medical insurance, exploring innovative ways to help patients obtain coverage and integrate into a range of diversified health management services. The company's efforts have significantly alleviated the financial burden of medical treatment for many, helped to establish a sound multi-level medical security system, and contributed to the development of a "Healthy China."
In the context of national policy support and development transformation, the platform economy has become a critical driver in realizing equity, convenience, and inclusiveness in new infrastructure. As China's premier universal healthcare service provider, supported by HSBC's strategic backing and the strengths of its original shareholders, MediTrust is well-positioned to solidify its first-mover advantage and closed-loop value ecosystem, making top-quality healthcare services more accessible and contribute to the creation of a happier society for all.
Duringthe recent Chinese New Year celebrations, MediTrust and HSBC jointly launched a charitable initiative, donating medical equipment and other goods worth RMB 2.7 million to underserved small and medium-sized cities across the country, to protect the health of vulnerable elderly populations.