Private healthcare group Asia Pacific Medical Group (APMG) has raised “hundreds of millions” of renminbi in a Series A financing round. The round was led by IDG Capital and the People’s Insurance Company of China (PICC), with participation from GL Capital. The proceeds will be used for the late phase construction of Shanghai Xiehua Hospital and the acquisition of other hospitals.
Financing Details
The Series A financing round underscores APMG’s commitment to expanding its healthcare network. The funds will support the completion of Shanghai Xiehua Hospital and enable the group to acquire additional hospitals, enhancing its presence in the Chinese healthcare market. Bain Capital, which acquired controlling rights of APMG in March 2016, remains the group’s major shareholder.
Company Profile
Founded in 1992, APMG operates nine hospitals in China, including Beijing Puhua International Hospital, Beijing Nanjiao Hospital, and Shanghai Gamma Knife Hospital. This extensive network positions APMG as a significant player in the private healthcare sector, offering a range of medical services across multiple regions.
Future Implications
The Series A financing marks a strategic step for APMG in its ongoing efforts to enhance healthcare infrastructure and services. By leveraging the support of leading investors, APMG aims to further solidify its position in the market and improve access to quality healthcare for patients.-Fineline Info & Tech
