Ping An Good Doctor, a China-based online healthcare platform backed by insurance provider Ping An Insurance, is hoping to list on the Hong Kong Stock Exchange, the South China Morning Post reported today.
The company is aiming to raise approximately $1bn, with the flotation set to take place during the first half of next year. Citigroup and JPMorgan have been hired as underwriters, according to International Financing Review.
Founded in 2015, Ping An Good Doctor operates an online medical consultation and appointment booking platform, with features including a database of medical topics and a store to buy medication, cosmetics and healthcare products.
Patients are also able to send photos to physicians and connect through video. The platform claims it currently serves 180 million registered users.
The plans for a flotation follow Good Doctor securing an online hospital licence earlier this year, which will enable the company to sell prescription medicine.
Good Doctor raised $500m in a series A round in May 2016 from a range of unnamed investors that included internet companies, finance corporations, China state-owned enterprises and private equity funds. The series A round valued Good Doctor at $3bn.