Hospital Services Provider Kedu Raises $60M in Series C Funding

According to equalocean.com, Shanghai-based healthcare services provider Kedu Healthcare Tech ("Kedu") announced that it has carried out its Series C funding round, worth US$60 million, led by China Merchants Capital Investment (a subsidiary of 'China Merchants Group'). 

The fundraising also saw participation from Singapore investment firm UOB Venture Management, Israel VC firm Infinity Group and Beijing-based PE investment firm Morale Capital.

Founded in 2006, Kedu mainly focuses on providing medical device and supply chain management services to hospitals and healthcare-related enterprises. The company claims to have under management hospital assets worth more than 50 billion yuan, which cover nearly 3,000 customers. Other services include installation and maintenance.

Ma Meifang, the CFO of Kedu, said that, in the past four years, the healthcare services provider experienced rapid growth, with revenue quietly tripling in that time. In 2018, the firm's sales revenues reached a record of over CNY 1.5 billion (USD 210 million ), with a CAGR projected to reach 45% in the next three years, according to Kedu's official website. 

Such a remarkable growth pattern, according to the Kedu CFO, is due to the firm's 'Kedu-model', which mainly offers intelligent life-cycle management services for hospital medical equipment.

Ma Meifang said that the development of Kedu in the industry has two major advantages. Firstly, the company has a big scale. At present, Kedu is already a leading company in the medical equipment management service industry and has a deep connection with customers. The other is its technology. Relying on more than ten years of experience in the industry and independent research and development, Kedu has the ability that is rarely seen in the industry to provide equipment and service for all departments of the hospital.

Headquartered in both Shenzhen and Hong Kong, CMC was founded in 2012 with a registered capital of US$160 Million. CMC is specializing in alternative investments and management. As of the end of 2014, the total AUM of CMC is about $3 Billion.

CMC predominantly invests in opportunities within Chinese SOEs restructuring, industrial upgrading, and new urbanization, seeking cooperation opportunities in the following sectors: infrastructure, medical & pharmaceutical, financial services, real estate, high-tech, agriculture & foods, media, equipment machinery, mining, energy, etc.

UOB Venture is a wholly-owned subsidiary of United Overseas Bank (UOB) Limited, one of Asia's leading international banking and financial groups. Operational since 1992, UOB Venture has provided financing to more than 100 privately held companies through direct equity investment, mainly in Southeast Asia and Greater China.