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Business
Tencent’s WeDoctor may list on new upcoming sci-tech board in Shanghai
CKN
2019/02/20 02:46:01
1,907
China's News, China's Financial News, Tencent’s WeDoctor

Feb 20, 2019 (China Knowledge) - Tencent-backed online health care start-up WeDoctor is said to be in talks regarding a possible listing on the soon-to-debut science and technology board in Shanghai.

The company which introduced China’s first online hospital currently engages in two main businesses which are health management and cloud services. WeDoctor will likely target to list its cloud services arm in the mainland due to the sensitivity of its data.

WeDoctor which was founded back in 2010 aimed to solve the problem of overstretched and underfunded hospitals in China with patients having to wait long times to be able to see specialists and some even going so far as to pay middlemen to secure appointments with renowned doctors.

WeDoctor’s services are currently being used by 2,900 hospitals on the mainland and received a valuation of USD 5.5 billion during its last funding round led by Hong Kong-listed insurer AIA Group and NWS Holdings. Other investors in the company included Tencent Holdings, Sequoia Capital and Goldman Sachs.

The new science and technology board unveiled by the China Securities Regulatory Commission in late December last year will likely be the listing place of choice for the company due to its aim to help technology companies to raise capital.

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