Meditrust Health Completes a New Round of Financing

According to VCBeat, Shanghai Meditrust Health Technology Co., Ltd. ("Meditrust Health"), a company providing innovative healthcare payment solutions, announced that it has obtained strategic financing from China Life Reinsurance Company Ltd. ("China Re Life").

As another important partner, Li Yongzhong, executive director and vice President of Shanghai Pharmaceuticals Holding Co., Ltd. ("SPH"), said, "I am very happy to see the achievements of Meditrust Health. As one of the major shareholders of Meditrust Health, SPH will take advantage of its drug distribution business to help Meditrust Health develop in the insurance industry."

Zhang Xiaodong, CEO of Meditrust Health, said that this round of financing would be used to expand innovative insurance business and accelerate layout in the industry. In addition, China Re Life's resources in the insurance industry with a strong ability to risk management will effectively support the company's upgrading. The two leading strategic partners will help Meditrust Health to become an important payer in the field of pharmaceuticals and insurance.

Founded in August 2017, Meditrust Health is committed to exploring in the field of innovative healthcare payment and has successively carried out a number of innovative payment and drug coverage projects such as high-price drug financial staging business, curative effect insurance and so on. The company not only has the largest number of patients in China on its innovative payment platform, but also has the largest number of new drug innovation payment projects in exclusive cooperation with multinational pharmaceutical enterprises.

China Re Life is the only specialized life reinsurance company in China approved by the State Council and China Insurance Regulatory Commission (CIRC) and founded in December 2003. The company has a registered capital of RMB6.720 billion and it is a wholly-controlled main business subsidiary of China Reinsurance (Group) Corporation ("China Re Group"). The scope of business of the company covers a wide range of insurance types, including life insurance, health insurance, accident insurance, and annuity insurance.

SPH is a vertically-integrated and diversified pharmaceutical group. The company provides leading healthcare services in Research & Development, Manufacturing, Distribution, and Retail. SPH is one of the few listed pharmaceutical companies with a leading position in both manufacturing and distribution in China.