MORE Health Closed on Nearly 500 Million yuan In Series C to Build a Closed Loop of Health Services

On April 2, 2019, MORE Health announced that recently it closed on nearly 500 million yuan in Series C supported by China Pacific Health Care Management, China Pacific Insurance Pension Industry Investment Management, both of which are the subsidiaries of China Pacific Insurance (CPIC), and Xiran Capital.

MORE Health will use those funds for product development and expand cooperation around its core business to build a closed loop for health services and become the first brand of mobile health management.

To date, MORE Health has raised RMB 450 million from investors including River Head Capital, CITIC Capital Holdings and Jiangzhong Traditional Chinese Medicine Fund.

In the future, MORE Health and China Pacific Insurance Pension Industry Investment Management will accelerate their business cooperation, giving full use of the technology, brand, customers and resource from each other, integrating technologies of large data, artificial intelligence, the professional medical rehabilitation and health management to build “online and off-line”  health management, to develop a novel model combining health management with health insurance.

MORE Health started as an incubation project under the Chinese conglomerate SanPower Group. The company is a health startup that aims to offer access to the best physicians in the world when they are needed the most; when patients are faced with a critical, potentially life-changing illness, such as cancer or heart disease. 

Since its establishment in 2015, MORE Health has transformed itself from a startup company into a group company. It has developed five business sectors including MORE+, MORE Cloud, MORE app, MORE Insurance, and the Canada Health Management Center (China), formed by health data tracking, AI health management and entertainment operation as the core, MORE Health provide innovative health management solutions for clients.

China Pacific Insurance (Group) Co., Ltd. is an insurance group basically constituted by China Pacific Insurance Company, a company established on 13 May 1991. The head office of CPIC is located in Shanghai.

CPIC adheres to its mission to “be a responsible insurance company” and its core corporate values of “business integrity, prudence, and sustainability, the pursuit of performance excellence”. It will promote and realize its objective of sustainable value-enhancing growth in order to create values for the customers, shareholders, employees and stake holders and contribute to the harmony of the society.

China Pacific Insurance Pension Industry Investment Management co., LTD. (CPIC Pension Industry Investment), a wholly-owned subsidiary of CPIC, was established in Shanghai in September 2014 with a registered capital of 3 billion yuan.

CPIC Pension Investment is the first pension industry investment platform approved by the former China Insurance Regulatory Commission (CIRC). Its main business includes pension industry investment and construction as well as health and medical investment related to the pension industry.

China Pacific Health Care Management co., LTD, a wholly-owned subsidiary of CPIC’s life insurance department, was formally established in January 2018.

For individual clients, CPIC Health Care offers health management, tracking intervention and health protection on a digital health management platform, and forms an ecosystem of health management services.

For governments and commercial insurance companies, CPIC Health Care relies on information technology such as intelligent monitoring, remote consultation. By providing management services, the company brings three things together, health care, health insurance, and medicine. The company helps to improve the operating efficiency of the medical insurance and commercial insurance industry.