Siyang Wang
Guahao.com, a Tencent-backed online medical service platform is reported to have raised more than USD 394 million, according to Caixin Magazine.
This round of fundraising was lead by Goldman Sachs, Fosun Capital Group，Tencent, China Development Bank and other organizations. The value of the company is now estimated to be higher than USD 1.5 billion.
Founded in 2010 by Liao Jieyuan and his team in Hangzhou, Guahao or ‘Registration,’ aims to reshape China’s healthcare industry by seizing the new opportunities provided in the digital era.
The company also said today that it will change its name from Guohao Co., Ltd. to Accountable Care Organization (ACO) Co., Ltd.
Last year, the company raised more than USD 100 million in a Series C fundraising led by Tencent. Guahao soon after launched the ACO platform to utilize Tencent’s Wechat and QQ – the two most widely used instant messaging apps in China – to allow physicians to communicate and collaborate on treatment cases remotely.
On the heels of ACO, Guahao launched a mobile app to provide remote physical consultations, online and mobile appointment booking, and consulting between physicians and patients.
Guahao’s database now includes more than 1600 major hospitals, 110 million verified registered users and, 150,000 physicians sourced from major hospitals spread throughout China, according to its official website.
Besides expanding online, Guahao has established branch offices in seven major cities including Beijing, Shanghai and Guangzhou.
According to BCG’s newly released report ‘China’s Digital Healthcare Revolution,’ the digital healthcare market in China will witness skyrocketing growth over the next five years, with expected value to reach $110 billion by 2020. Guahao is a leading player in the digital healthcare sector and analysts expect Guahao to become another startup unicorn.
Edited by Rohan Malhotra
(Siyang Wang is a guest writer at AllChinaTech.com)