In April 2017, Investment holding company Tencent announced it has led a US$ 200 million ($184 million) round (Series D) in Hao Daifu, a leading Chinese digital healthcare firm.
Through this investment, the company will develop its online hospital appointment booking services to allow all Chinese people to consult good doctors more easily and quickly. The other main objectives of Hao Daifu is to continue the development of its services related to outpatient medical care and to set up commercial medical insurance products.
Hao Daifu network will soon cover all cities in China
Hao Daifu’s services contribute to fight hospitals overcrowding
Founded in 2006, Hao Daifu provides Chinese patients with hospital and doctor search systems, online consultancy, hospital appointment booking services and information sharing services.
Hao Daifu (« good doctors » in Chinese) also allows users to pay for consulting services with renowned doctors. In a regular hospital setting, this king of appointment require usually several months of waiting time, hospitals overcrowding being one of the main issues in the Chinese healthcare system.
A network of more than 490,000 physicians and 10 million patients
Hao Daifu’s customer relations department said that following the funding round, the firm will focus on four strategic areas:
- 1. Developing its healthcare resources. As of March 2017, more than 490,000 physicians at 7,500 hospitals throughout China were registered on the Hao Daifu’s platform lists, haodf.com, and more than 10 million patients were registered on the company’s online management system.
- 2. Continuing efforts in the field of outpatient medical care, including online patient management services for doctors.
- 3. Extending its online network of physicians. The company’s platform connects major hospitals and and grassroots medical institutions to form online « medical associations », enabling patients to to enjoy both remote expert consultation and local services. The network is expected to cover all cities in China by the end of 2017.
- 4. Creating commercial medical insurance products. This is Hao Daifu’s major project for the coming year.
Tencent is making a lot of investments in the healthcare sector
In 2008, Haifa Daifu raised US$ 3 million (€ 2.7 million) in a round led by DCM Ventures. Trustbridge Partners invested tens of millions of US$ in 2011 (Series B) in the company, then US$60 million (€ 54.8 million) in 2015.
This multi-million dollar investment of Tencent is the latest in a string of healthcare sector deals in China by the local Internet giant over the past two years.
In 2015, the group led a round worth tens of millions of RMB (€1 to 2 million / US$1.7 to 2.5 million) in mobile healthcare application Miaoshou Doctor.
He also participated in the same year in a in a US$300 million series E (€274 M) in Guahao, an online hospital appointment service provider.