Practo’s Chinese Counterpart Guahao Raises $394M at $1.5B Valuation

Guahao has raised $394 million funding at a valuation of $1.5 billion - Image Source

Guahao has raised $394 million funding at a valuation of $1.5 billion – Image Source

Chinese online healthcare startup, Guahao has raised $394 million funding at a valuation of $1.5 billion, led by Hillhouse Capital, Goldman Sachs, with additional investment from Fosun, Tencent, China Development Bank Capital and more. The funding will be used to establish an internet platform for diagnosis and treatment, and to set up five surgery centers. Tencent had earlier invested $106.5 million in Guahao in October 2014.

The startup has a comprehensive database of information on doctors, specialists, and procedures, online diagnosis & treatment as well as other kinds of medical appointments and more. It is also changing its name to We doctor everywhere, including its mobile app. The firm claims to have over 1,600 hospitals listed on its platform, with 190,000 specialists and 100 million registered users.

In China’s internet healthcare sector, it was the largest investment at the time. Founded in 2010, Guaohao provides online service to Chinese hospitals, doctors and patients who can make hospital appointment reservations and make payments using its mobile app and web portal.

In August, Tencent had also lead a $90 million series C funding in Bengaluru-based healthcare platform, Practo which had raised around $125 million so far. A similar Indian startup Credihealth also announced an undisclosed amount of funding from Rajat Malhotra, the Director of Engineering at Twitter Indiaits funding, earlier this week.