China-based healthcare payment platform MediTrust Health completed a series C round today sized at over RMB2bn ($308m) featuring Lilly Asia Ventures, a corporate venturing vehicle for pharmaceutical firm Eli Lilly.
Private equity group Boyu Capital and investment firm Janchor Partners co-led the round, which included B Capital Group, a venture capital offshoot of professional services firm Boston Consulting Group, as well as Bank of China Group Investment, on behalf of financial services firm Bank of China.
The round was filled out by investment bank China International Capital Corporation’s CICC Capital subsidiary, AIHC Capital, China Renaissance’s Huaxing Growth Capital fund, China Everbright, Lake Bleu Capital, Marathon Venture Partners, New Alliance Capital, Shanghai Biopharmaceutical Investment Fund and Sinovation Ventures.
MediTrust Health was founded in 2017 as a subsidiary of pharmaceutical group Shanghai Pharmaceuticals and provides an online portal that enables private patients to settle their healthcare bills with care, medicine and insurance providers.
E-commerce group Alibaba’s financial services affiliate, Ant Group, had co-led a $154m series B round for MediTrust Health in March this year together with Shanghai Biopharmaceutical Investment Fund and Sinovation Ventures.
BioTrack Capital, Northern Light Venture Capital, Huaxing Growth Capital and existing investors Marathon Venture Partners and SAIF Partners China also took part in the series B round.
Reinsurance group China Re had provided an undisclosed amount of series A-plus funding for the company the year before while BioTrack Capital has been identified as the lead investor in its series A round, which closed at an unspecified date.
