Taikang Life Invests RMB 2.062 Billion in BoBo Dental, Pioneering an Integrated 'Payment + Oral Care' Ecosystem
Taikang Insurance Group Officially Announces Strategic Investment in ByBo Oral Medical Group
(Image provided by the company)
VCBeat (WeChat ID: vcbeat) has learned that the press conference for Taikang’s strategic investment in ByBo Dental was held at Taikang Business School on June 15. Chen Dongsheng, Chairman and CEO of Taikang Insurance Group, and Zhu Linan, Executive Director and President of Legend Holdings, attended the event in person to officially announceStrategic Investment Successfully ClosedAt the press conference, Taikang and Legend Holdings stated that they would leverage their respective domain-specific advantages to inject new vitality into ByBo’s future development and jointly build a premier brand in the dental care sector.
May 18,With the approval of the China Banking and Insurance Regulatory Commission, Taikang Insurance Group has officially announced its strategic investment in ByBo Oral Medical Group.Taikang Life Insurance Investment20.6236 Billion RMB Investment for 51.56% Equity in ByBo Medical. This investment is led by Taikang Health Industry Investment Holdings Co., Ltd. and funded by Taikang Life Insurance Co., Ltd., marking the official implementation of Taikang’s high-end medical model in the field of specialized dental care.
Founded in 1993, ByBo Oral received a strategic investment from Legend Holdings in 2014. Providing professional dental care services to millions of Chinese people annually, it has become China’s leading non-public dental service chain brand.
This investment and equity stake by Taikang isThe Insurance Industry and the Dental Healthcare Industrya significant integration, with both parties enjoying natural synergies in capital, products, and customers. ByBo Dental’s network layout, scale, and business positioning are highly aligned with Taikang’s customer base, and will, together with Taikang’s subsidiaries,Life Insurance, Health InsuranceProduce significant synergistic effects.
On the other hand, their collaboration will effectively integrate service providers and payers, achieving seamless alignment between medical services and insurance payments, thereby fostering a win-win outcome for oral healthcare providers, payers, and consumers alike.
For a long time, there has been a significant gap between the oral health status and oral healthcare awareness of the Chinese population and those in developed countries. The Third National Oral Health Epidemiological Survey revealed that the prevalence of oral diseases in China exceeded 90%, while the treatment rate was only 10%. Statistics show that in 2017, per capita expenditure on dental care in the United States was $420, whereas in China it was merely $5.8. In fact, insufficient attention to oral health can lead to a variety of health problems, including digestive system disorders, cardiovascular and cerebrovascular diseases, respiratory system diseases, and developmental impairments in children.
With the implementation of the national “Healthy China” strategy, the rise of the middle class, and consumption upgrading, an increasing number of people are regarding “oral health” as a vital component of modern quality of life. The public’s improved oral health and more confident smiles serve as a vivid embodiment of the “Healthy China” initiative and the aspiration for a “better life.”
As a leading large-scale financial and insurance services provider in China, Taikang is committed to providing comprehensive health and wealth management solutions and services to the growing middle-class population and their families.
This equity investment in ByBo Dental will serve as a significant complement to its medical business segment, delivering high-quality dental care services to the broader population and leading a transformation toward healthier lifestyles. “Taikang always prioritizes customer health. By integrating premium medical resources, we aim to meet the personalized and multi-layered healthcare protection needs of our extensive customer base,” stated Taikang Insurance Group.
After 25 years of rapid development, ByBo operates more than 200 dental medical institutions in over 50 cities, including Beijing, Shanghai, Guangzhou, and Shenzhen. Adhering to a development path that integrates “academics, technology, and distinctive specialties,” ByBo has introduced internationally advanced medical management models and cutting-edge diagnostic and treatment equipment and technologies. It has recruited renowned domestic and international dental experts to form an expert team and established six professional academic committees specializing in orthodontics, implantology, endodontics, aesthetic restoration, periodontics, and general dentistry, thereby creating a clinical platform characterized by high-caliber talent, a high concentration of experts, and authoritative technical expertise.
“ByBo Oral has initially achieved its nationwide expansion target; how to further enhanceEndogenous Capability Growth"...will become its next core development theme." Lenovo Holdings stated, "Lenovo Holdings has always encouraged and assisted its portfolio companies in acquiring the resources necessary for corporate development through various means. The addition of Taikang will more powerfully drive ByBo to achieve its next-stage objectives, creating greater value for consumers and the industry as a whole."
It is reported that after taking an equity stake, Taikang will provide ByBo Dental withComprehensive support across funding, clients, branding, and products, continuously leveraging its own strengths to provide ByBo Oral with support in marketing and promotion, talent development, discipline construction, and product development, while integrating resources such as IT, supply chain, and property management to deliver comprehensive empowerment.
In recent years, ByBo Oral has continuously recruited specialized professionals across various disciplines, boasting a team that includes the Group’s President of Medical Affairs, the former Vice Dean of the School of Stomatology and Chair of the Department of Stomatology at Shanghai Jiao Tong University, the former Director of the Orthodontics Department at Shanghai Ninth People’s Hospital, and doctoral supervisors.Shen Gang, former Dean of the School of Stomatology at Chongqing Medical University and President of the Affiliated Stomatological Hospital of Chongqing Medical University, Level-2 Professor, Doctoral Supervisor, Executive Director of the Chinese Stomatological Association, and Vice Chairman of the Orthodontics Professional CommitteeDeng Feng, Ph.D. from Boston University Henry M. Goldman School of Dental MedicineDai Bing, former Vice President of Guangdong Provincial Stomatological Hospital, recipient of the State Council Special Government Allowance, and doctoral supervisorZhou Lei, Master’s in Implantology from the University of California, Member of the International Congress of Oral Implantologists (ICOI), Director of ByBo IDDCLi Qiang, graduated from West China University of Medical Sciences, and has been engaged in maxillofacial surgery and oral implantology for nearly 27 yearsXiong Jingyua team of oral health experts, among others.
After the investment, he held a bachelor’s degree in stomatology from West China University of Medical Sciences and a Ph.D. in stomatology from Peking University School of Stomatology, and served as Vice President of Taikang Healthcare Industry Investment Holding Co., Ltd. and former General Manager of the Medical Development Division.Zhu Zhenghong Appointed as CEO of ByBo Oral Medical Group,The continuously strengthened professional management team will inject new momentum into ByBo Oral’s comprehensive enhancement of governance standards and management efficiency.
In addition, Taikang has in recent yearsInvesting in and operating large-scale general hospitals, nationwide chain rehabilitation hospitals, and other physical medical institutionsHospitalAt the same time, it leverages collaborative resources with numerous top-tier medical institutions both domestically and internationally. In the future, the two parties will attract more outstanding dental professionals through joint department development, technical guidance, information exchange, and talent cultivation, thereby creating a new ecosystem for the development of oral healthcare.
It is reported that, after receiving an equity investment from Taikang Investment,ByBo Oral will focus more on its existing hospitals and clinics, specializing in oral healthcare, consistently upholding medical quality and service standards, and vigorously strengthening the development of professional talent and management teams.
Within just four months, ByBo efficiently recruited 219 outstanding dentists at all levels, established a system-wide quality control framework, developed a two-tier training system covering both internal and external dimensions, and set technical access standards. By leveraging and applying advanced international dental technologies, ByBo has built a U.S.-standard dental healthcare quality service system, consistently emphasizing the values of “benevolence in medicine and relentless pursuit of excellence,” thereby returning to the essence of medical care.
What ByBo Oral has always pursued is that, from the moment a patient steps into the clinic, doctors focus not only on oral diseases but also regard the patient as a whole person, addressing their psychological and spiritual needs. With genuine care, doctors patiently listen to all of the patient’s concerns. All communication, examinations, analyses, and treatment plans are designed with the patient’s best interests in mind, leveraging the doctor’s professional knowledge and skills to fully meet the patient’s needs. Throughout this process, every aspect of the patient’s experience is carefully considered and addressed, ranging from eliminating minor inconveniences to ensuring strictly pain-free procedures.
In the future, ByBo Oral will mobilize experts from various fields for every patient, starting fromStart with Oral Prevention, formulate effective oral treatment plans and long-term maintenance programs. ByBo will substantially enhance primary medical care and services through improvements in institutional frameworks and management, ensure diligent follow-up visits and maintenance, and foster a positive cultural atmosphere and safe operational practices among frontline medical and nursing staff.
From an international perspective, the United States’ total dental expenditure in 2015 amounted to $110 billion, accounting for 4.5% of its healthcare spending. In terms of the payment system, basic medical insurance covered 10%, while commercial insurance accounted for 45–50%. Approximately 60% of the U.S. population had dental insurance, with the dental insurance market reaching a size of $46.5 billion and comprising more than 360 dental insurance companies.
In 2012, Taikang pioneered a business model that integrates virtual insurance products with tangible medical and elderly care services, thereby extending the reach of its insurance offerings, customer base, and service provisions. Taikang’s investment in ByBo Dental will further strengthen the integration of payment and service systems, creating a business model that combines commercial health insurance with specialized dental care.
Taikang began exploring the development of the elderly care, medical, and broader health industries as early as ten years ago. Currently, it has established high-quality communities integrating medical and elderly care in 12 core cities across China, while simultaneously building a modern healthcare system that combines medical centers with specialized disciplines. Taikang Xianlin Gulou Hospital is Taikang’s first large-scale general hospital integrating medical care, education, and research. The construction of Taikang Tongji (Wuhan) Hospital and Taikang Southwest Medical Center is currently underway.
In addition, Taikang has also made strategic investments inHemei Medical, Parkway Healthcareand actively explore the ecological layout of the health industry. According to Taikang’s plan, customers can enjoy their later years in the elderly care service system through pension insurance, and receive services and treatment in the medical and healthcare system through health insurance.
Chen Dongsheng, Chairman and CEO of Taikang Insurance Group, stated that Taikang has always aligned with the trends of the times and the tangible needs of the people, focusing on its core business and professional expertise. By integrating virtual insurance with physical medical and elderly care services, Taikang is building a comprehensive health industry ecosystem to fully serve the nation’s broader livelihood initiatives, positioning itself as a core backbone enterprise in the new era’s major livelihood projects.