Hong Kong Asia Medical Group Secures $400 Million Series D Funding with Octagon Capital as Exclusive Financial Advisor

VCBeat has learned that Hong Kong Asia Medical Group (hereinafter referred to as “Asia Medical”), a leading brand in specialized cardiovascular healthcare in Asia, recently completed a $400 million Series D financing round. The round was led by Country Garden Ventures and Primavera Capital, with participation from Taikang Life Insurance, ICBC International, Agricultural Bank of China International, BOCOM International, Hudson Bay Capital, and Sherpa Investments. Existing shareholders Legend Capital and General Atlantic continued to increase their investments. Joywise Capital served as the exclusive financial advisor for this financing round.

Hong Kong Asia Medical Group was established in 1999. Since the founding of its first hospital, Wuhan Asia Heart Hospital, the Group has remained at the forefront of cardiovascular medicine for over two decades, guided by its core philosophy of patient-centered care. Adhering to a development strategy that equally emphasizes clinical practice, education, and research, it has built a healthcare network spanning Mainland China, Hong Kong, Japan, and other regions, emerging as a leading cardiovascular specialty medical group in Asia.

Over the past 22 years, Wuhan Asia Heart Hospital has cumulatively treated approximately 5 million patients. From Hubei to the rest of China, and from China to the broader Asian region, this journey has jointly witnessed the growth trajectory of Hong Kong Asia Medical Group. Currently, the global cardiovascular diagnosis and treatment market still holds immense potential. Demand for cardiovascular medical services in Asian regions, including mainland China, Hong Kong, and Japan, continues to rise, while such demand remains largely unmet in most developing areas. Leveraging its exceptional clinical service capabilities and an internationalized innovative management system, Hong Kong Asia Medical Group adheres to a general manager and hospital director responsibility system under the leadership of the Board of Directors. It practices the principle of “administrative services supporting clinical practice, and clinical practice serving patients,” while continuously investing in the replication of management systems, translation of clinical innovations into practice, joint talent development, and the introduction of advanced technologies.

Following this round of financing, the Group will continue to strategize new service innovations, guided by a patient-centric approach, and strive steadfastly toward becoming a world-class cardiology medical group integrating clinical treatment, patient care, research, and education.

Mr. Sun Lianghao, Managing Director of Country Garden Venture Capitalstated that cardiovascular and cerebrovascular diseases are common chronic non-communicable diseases, characterized by high mortality rates and significant technical challenges in diagnosis and treatment. Given the large patient population in Asia, demand for specialized cardiovascular medical services in China has shown a sustained upward trend in recent years. Asia Medical Care combines top-tier diagnostic and therapeutic technologies from China’s private healthcare sector with an excellent professional medical team. Its operational capabilities have been thoroughly tested during the COVID-19 pandemic, solidifying its position as the absolute market leader. Over the past two decades, Asia Medical Care has remained committed to advancing the frontiers of cardiovascular medicine and upholding its core philosophy of patient-centered care, while adhering to a development strategy that equally emphasizes medical practice, education, and research. This aligns closely with Country Garden Venture Capital’s value orientation of investing in excellence, quality, and the future. Moving forward, we will continue to support the company’s growth, accompanying it as it evolves into a leading healthcare brand in Asia, thereby benefiting more patients and creating greater social value.

Mr. Zheng Jiaqi, Partner at Primavera CapitalCardiovascular and cerebrovascular diseases are not only the most prevalent and deadliest conditions in China but also globally, with their prevalence continuing to rise in recent years. We place great value on the outstanding academic and clinical service capabilities that Asia Healthcare has accumulated over more than two decades, firmly believing that these constitute the most critical foundation and the most formidable barrier in the healthcare services sector. As a model for private healthcare in China, Asia Healthcare has leveraged its deep-rooted expertise to achieve steady domestic expansion and has initially realized an international footprint through its unique management system. We are optimistic about Asia Healthcare’s development and will provide comprehensive support to help the company reach new heights.

Mr. Ding Yameng, Founding Managing Partner of Haoyue CapitalIt was stated that, through more than two decades of accumulation, Asia Medical Group has become a high-caliber cardiovascular specialty healthcare brand covering mainland China, Hong Kong SAR, Japan, and other countries and regions. Beyond its strengths in medical technology, academic excellence, brand recognition, and influence, Asia Medical has long set a benchmark for socially funded healthcare providers in hospital management, talent development, and scientific research and education. We are honored to once again serve as the exclusive financial advisor to Asia Medical Group, facilitating its collaborations with Country Garden, Chunhua Capital, and other renowned institutions. We believe that in the next phase, Asia Medical will continue to deepen its medical talent ecosystem and internationalized innovation management system, seize the momentum of innovative therapies in the cardiovascular field, and achieve steady expansion amid new opportunities brought by multidisciplinary integration in the prevention and treatment of cardiovascular diseases, ultimately evolving into a truly pan-Asian medical center.

Country Garden Ventures is the direct equity investment arm of Country Garden Group. Guided by the strategy of “industrial empowerment and value co-creation,” it focuses on four key investment themes: technology, healthcare, consumer goods, and industrial chains. The firm invests across stages, from early-stage venture capital (VC) to mid-to-late-stage private equity (PE), forming a phased, sector-specialized, and multi-tiered investment portfolio. Over the past three years, Country Garden Ventures has invested in more than 90 companies, among which 10 have successfully completed initial public offerings (IPOs), 26 have achieved unicorn status, and 13 have completed their next rounds of financing. To date, 52% of its total investment capital has been allocated to hard-tech sectors such as advanced manufacturing, semiconductors, and carbon neutrality.

In the future, Country Garden Venture Capital will continue to uphold the Group’s vision of “striving to build a high-tech, diversified enterprise that creates a happy life for society,” partnering with cutting-edge technological forces to contribute value to the high-quality development of the economy and society. We hope that our presence will make the world a better place.

Primavera Capital was founded in 2010 by renowned economist Dr. Fred Hu. As a global professional investment management firm rooted in China, it currently maintains offices in Beijing, Hong Kong, Singapore, and Silicon Valley. Primavera Capital manages multiple RMB and USD funds, serving professional investors such as leading global institutions, corporations, and family offices, with total assets under management exceeding RMB 100 billion. The firm is dedicated to identifying the best investment opportunities arising from China’s historic transition from an “upper-middle-income country” to a “developed economy,” with a focus on sectors including consumer goods, technology, healthcare, education, financial services, and carbon neutrality.

Haoyue Capital was established in January 2014, with a commitment to serving as a bridge connecting China’s healthcare sector with capital. Its research and transaction coverage spans multiple sub-sectors, including innovative medical devices, biopharmaceuticals, in vitro diagnostics (IVD) and precision medicine, healthcare services, and smart healthcare. The Haoyue Capital team comprises senior investment bankers with extensive experience in China’s healthcare industry. By closely monitoring market dynamics and investment trends in the healthcare sector over the long term, the firm publishes weekly healthcare investment reports and thematic research studies, offering Haoyue’s perspectives on new policies and emerging frontiers.