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China’s IAC Drafts Commercial Health Insurance Drug List A-Series to Bridge NRDL Coverage Gaps
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The Insurance Association of China (IAC) has unveiled its inaugural draft for the Commercial Health Insurance Drug List – A-Series, marking a pivotal step in standardizing coverage frameworks for supplemental health plans. The initiative aims to address gaps in China’s National Reimbursement Drug List (NRDL) by integrating high-frequency, high-demand therapies…
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China Resources Medical Holdings Reports 2024 Revenue of RMB9.86 Billion Amid Net Profit Surge
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China Resources Medical Holdings Company Ltd (CR Medical, HKG: 1515) has published its 2024 financial report. The company recorded revenues of RMB 9.86 billion (USD 1.4 billion), marking a 2.5% year-on-year (YOY) decrease. Despite the revenue decline, net profits rose significantly by 104.9% YOY to RMB 672 million (USD 92.5…
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Distinct Healthcare Files for Hong Kong IPO to Expand Integrated Medical Services
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Shenzhen-based Distinct Healthcare Holdings Limited, a comprehensive medical service provider with integrated online and offline offerings, has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange. This move marks a significant step in the company’s growth strategy and capital market expansion. Company OverviewSince its inception in…
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Medbanks Reports 2024 Financial Results Amid Business Reorganization
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Sipai Health Technology Co., Ltd (HKG: 0314), known as Medbanks, released its 2024 financial report. The Chinese online health platform, which debuted in Hong Kong last December, reported annual revenues of RMB4.565 billion (USD631 million), a 3.1% year-on-year decrease. The operating loss narrowed by 12.2% to RMB238 million (USD33 million)…
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Shanghai Fosun Pharmaceutical Transfers Unicorn II Holdings Stake to Warburg Pincus Subsidiary
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China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced plans to transfer its entire stake of 9.4 million shares in Unicorn II Holdings Limited to Calcite Gem, a subsidiary of Warburg Pincus. The transaction, valued at USD13.2 per share, totals USD124 million. Upon completion, Fosun will no…
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Waterdrop Integrates DeepSeek AI to Boost Insurance Ecosystem
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China-based Waterdrop Inc. (NYSE: WDH), a crowdfunding-based health insurance platform, announced a strategic integration with DeepSeek, a Chinese artificial intelligence (AI) company specializing in large language models (LLMs). This collaboration marks a significant advancement in Waterdrop’s AI-driven insurance ecosystem. Company BackgroundSince its founding in 2016, Waterdrop has focused on promoting…
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Grand Pharmaceutical Group Ltd’s SIR-Spheres Set to Reach Wider Patient Base Through MediTrust Health Deal
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Grand Pharmaceutical Group Ltd (HKG: 0512), a leading pharmaceutical company based in China, has announced a strategic partnership with MediTrust Health, an insurance, financing, and direct-to-patient pharmacy subsidiary of Shanghai Pharmaceuticals Holding Co., Ltd. This collaboration will focus on integrating Grand Pharma’s 90Y product into various commercial insurance schemes, aiming…
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China Regulators Chart Steady Path for ‘Huiminbao’ Medical Insurance Schemes
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The China Banking and Insurance Regulatory Commission (CBIRC) and National Healthcare Security Administration (NHSA) have issued a notification outlining measures to ensure a stable and orderly implementation of urban ‘Huiminbao’ commercial top-up medical insurance schemes. The notice is open for feedback from insurance companies and industry associations nationwide. The document…
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Fosun Kite and Medi Cover Launch First Value-Based Payment Plan for Lymphoma Treatment
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Fosun Kite and Medi Cover, a health management and patient service platform under Sinopharm (HKG: 1099), have jointly introduced the first value-based payment (VBP) plan for lymphoma associated with Fosun Kite’s chimeric antigen receptor (CAR) T cell therapy, Yescarta (axicabtagene ciloleucel). Under this innovative plan, eligible patients who do not…
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Fosun Pharmaceutical to Acquire 14% Stake in UnitedHealthcare for USD 34 Million
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196) has announced plans to invest RMB 248.9 million (USD 34 million) in the acquisition of 97.22 million new shares of UnitedHealthcare, securing a 14% stake in the insurance firm. This strategic investment aims to diversify Fosun’s portfolio and enhance its presence in…
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Shanghai HSA Unveils Measures to Boost Access to Innovative Drugs and Devices
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The Healthcare Security Administration (HSA) in Shanghai has recently released a set of Measures aimed at “Further Improving the Diversified Payment Mechanism and Supporting the Development of Innovative Drugs and Devices.” These Measures are designed to enhance Basic Medical Insurance (BMI) policies, strengthen commercial health insurance, and establish a multi-party…
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Centre Medical Secures Tens of Millions in Series A Financing to Expand Globally
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Centre Medical, a Hong Kong-based cardiovascular specialized medical services provider, has reportedly raised tens of millions of US dollars in a Series A financing round. Lake Bleu Capital led the investment, with participation from Asia Pacific Medical Group. The funds will be directed towards the company’s globalization strategy, with a…
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Medtronic Partners with Shanghai JiaHui Hospital at CIIE
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US-based Medtronic Inc. (NYSE: MDT) has announced a partnership with Shanghai JiaHui International Hospital, unveiled at the 5th China International Import Expo (CIIE) held this week. The collaboration aims to enhance patient services, upgrade supply chains, and implement clinical solutions, among other initiatives. Financial details of the partnership were not…
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Yibao Technology Secures Series A+ Funding to Expand Health Insurance Services
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Yibao Technology Co., Ltd, a Shanghai-based service provider for city-level supplementary commercial insurance (“Huiminbao”) schemes, has reportedly raised an undisclosed amount in a Series A+ financing round. The round was led by China Resources Pharmaceutical Group Ltd, China Resources Medicine Commercial Holdings Ltd, and China Resources Sanjiu Medical & Pharmaceutical…
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PingAn Good Doctor Partners with Roche and OrigiMed at CIIE
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The 5th China International Import Expo (CIIE) saw China-based Ping An Healthcare and Technology Co., Ltd (HKG: 1833), also known as PingAn Good Doctor, announce partnerships with Swiss giant Roche and its compatriot firm OrigiMed, a precision medicine company. The collaboration aims to expand the pan-solid tumor payment service mode,…
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Basecare Medical Sells 35% Stake in Cellpro Biotech for USD 9.5M
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Suzhou Basecare Medical Co., Ltd (HKG: 2170), a China-based IVF specialist, will sell a 35% stake in its assisted reproductive product developer Zhejiang Cellpro Biotech Co., Ltd for RMB 64.17 million (USD 9.5 million). Post-deal, Basecare will retain a 15% stake in Cellpro, having previously acquired 51% of the firm…
