Healthcare giant secures $49m in investments

One of China's largest private healthcare checkup service providers, Meinian Onehealth Healthcare (Group) Co, Ltd (Meinian Onehealth), has secured a total of 300 million yuan ($49 million) in investments from Pingan Insurance (Group) Co of China, Carlyle Group, and Cathay Capital's Sino-French Fund.

This is the second round of large-scale financing received by the company after Carlyle Group's initial investment in August 2012.

Meinian Onehealth operates more than 100 health check clinics and medical centers in China, covering 45 cities across 25 provinces.

Meinian Onehealth predicted that in 2013 it will serve more than 5 million customers, representing 50 percent growth.

"Meinian Onehealth has already reached its strategic objective of providing coverage to the vast majority of China's first and second-tier cities," said Yu Rong, chairman of Meinian Onehealth.

The new funds will be used to improve the quality of medical care, enhance consumer healthcare and provide consumers with a range of services, he said.

Yu said the company will further expand the service center network across the country and build itself into a versatile platform for quality services.

According to the company, it plans to have a nationwide presence of 200 clinics to secure the top position as China's largest provider of healthcare services by 2015.