Health and wellness product manufacturer Tasly Holding Group and insurance firm Taikang Life Insurance jointly launched a RMB5bn ($783m) healthcare fund on Tuesday.
The China-based corporates aim to build a health product ecosystem through the fund, in which Taikang is the lead investor. In addition to capital, Tasly will also provide strategic expertise.
The fund will target speciality hospitals, medical device technology, diagnostics, Chinese herbal medicine and health food businesses, telemedicine, mobile health and healthcare-focused big data technology.
Founded in 1994, Tasly specialises in chemical-free medications, which it currently supplies in 34 countries. Taikang, which was founded in 1996, provides life insurance and also pursues asset management activities.