QTC Care Closes on $50 Million in A Round Led by Tencent

On April 25, 2019, Shanghai-based QTC Care, a healthcare platform that uses AI to streamline treatment recovery and disease prevention, has secured $50M in Series A funding. The investment was led by a Chinese Internet giant, Tencent, followed by several other top investors in China. 

The funds will mainly be used for the development of Digital Therapeutics (DTx) and building medical network to service insurance companies. QTC Care has branches in the US, Japan, China, Singapore and Europe. 

Established in the United States in 2013，QTC Care is a pioneer in the globalization of medical services，which is committed to making customers “easy to see good doctors anywhere.” It has cooperated with more than 600 international renowned medical healthcare providers and thousands of world-class doctors. QTC focuses on introducing the world’s top medical resources to the Chinese market, thereby utilizing artificial intelligence to streamline treatment recovery and disease prevention. It partners with insurance companies in China to provide innovative long-term insurance products for patients to help them seek treatment options in the United States in an affordable manner. 

Two types of Digital Therapeutics (DTx) have been launched at QTC Care so far. Firstly, the“Micha initiative-weight-loss DTx”, which is based on scientific weight-loss concepts, has successfully helped participants to lose 4kg of weight on average within 3 weeks, an equivalent of 54% less risk in chronic and major diseases through online behavioral intervention.

Another DTx named “kapok” can potentially help cancer patients to improve their life quality, reduce total medical costs, and a number of visits to ER through similar behavioral interventions.

“Many cancer patients hope to receive high-quality treatment in the United States, but they are intimated by the high-cost and complex logistics to go beyond domestic,” said LuYi, CEO of QTC Care. “QTC Care solves their dilemma by both partnerings with top insurance companies to provide plans that reimburse up to $1M in treatment cost, including flights and accommodations, and offering an end-to-end service that takes all complexity out of logistics.”

Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services.

Since its establishment in 1998, Tencent has maintained steady growth under its user-oriented operating strategies. It provides value-added internet, mobile and telecom services, as well as online advertising under the strategic goal of providing users with "one-stop online lifestyle services." Tencent’s leading internet platforms in China – QQ (QQ Instant Messenger), WeChat, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai, and Tenpay – aim to address the various needs of internet users, including communication, information, entertainment, e-commerce, and others.