Pharmaceutical company Joincare Pharmaceutical Group has agreed to pay $30m for a 14.9% stake in Apricot Forest, the China-based developer of an information app for doctors, Reuters reported on Tuesday.
Founded in 2011, Apricot Forest has built an app that provides physicians with information including patient records and medical journals, in addition to discussion forums.
Joincare is providing the capital as part of a series D round that will value Apricot Forest at $200m, according to a market disclosure. It will also partner with the investee on healthcare services and products.
Venture capital firms BlueRun Ventures and Kaiwu Capital, and private equity firm China Broadband Capital Partners are among Apricot Forest’s previous investors. It has not publicly disclosed details of earlier funding rounds.