[Exclusive]Nuohui Medical Lands Millions Of Dollars Financing

According to VCBeat, medical payment and insurance service provider Nuohui Medical just received millions of dollars in the newest round of financing, this round of financing was led by Legend Star and followed by Baidu Ventures. The funds will be used to expand the business and improve the current service team.

Nuohui Medical was founded in 2018 in Shanghai, it's a medical payment and insurance solution provider that aims to reduce patients' costs for commercial health insurance. Under the Chinese medical insurance system, patients often need to bear a higher proportion of payments. Among them, the burden of medical expenses brought about a major delay in the treatment process for many patients. According to statistics, nearly 80 million patients with major diseases in China bear more than 700 billion RMB in medicines and medical expenses.

Nuohui Medical chose to start with the guarantees of major disease treatments, and hope to change this situation thought the idea of innovative medical payment. Much commercial medical insurance sometimes can even increase the cost, that's why Huohui Medical develops its own system to chose the most cost-effective treatment for the patients. Nuohui Medical believes that they are the new future of the health care business.

Legend Star is the independent early-stage investment arm of Legend Holdings that specializes in early-stage investments in technologies transforming traditional industries.

Baidu Ventures is the investment arm of Baidu that aims to back artificial intelligence, virtual reality, and augmented reality projects.