China healthcare startup Guahao completes US$394M funding round
The booking and health service portal is backed by Hillhouse Capital, Goldman Sachs and others; will change its name to We Doctor
Photo credit: Yuangeng Zhang / Shutterstock.com
There’s a healthcare revolution on the horizon in China, and it’s being led by startups. Next in line to help eliminate hospital wait lines is Hangzhou-based online startup Guahao, which boasts both an online portal and app.
The healthcare service provider announced yesterday that it has completed a US$394 million funding round, led by Hillhouse Capital, Goldman Sachs, with additional investment from Bosun International Limited, Tencent, China Development Bank Capital and more.
Tencent already invested US$106.5 million in Guahao in October 2014.
The funds will be used to establish an Internet-based national treatment platform and set up five surgery centres. The startup is also changing its name from Guahao to We Doctor everywhere, including its mobile app.
According to Guahao, over 1,600 hospitals are now listed at the portal, with 190,000 specialists and 100 million registered users.
In addition to its quick booking service, the site also offers a comprehensive database of information on doctors, specialists, and procedures and online diagnosis and treatment.
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Guahao refers to the registration service, literally the process of taking a number. In Chinese hospitals, patients typically arrive, take a number, pay upfront and then wait in line, potentially for hours.
China is facing growing health needs but a shortage of medical personnel. In May 2015, China’s Cabinet announced plans to reform several flailing aspects of China’s health care system, including measures to improve public hospitals and the medical insurance system.
The startup may face competition from Baidu’s jiankang.baidu.com portal, dubbed ‘China’s OpenTable,’ where doctor appointments can also be booked online.
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