SinoUnited Health Clinic Secures RMB 60 Million Series A Funding Led by Matrix Partners China

Dr. Shi Haoying, Founder and CEO of SingHealth Medical

On January 18, 2018, SinoUnited Health Clinic (hereinafter referred to as “SinoUnited Health”) announced the completion of its RMB 60 million Series A financing round, led by Maxstone Capital, with follow-on investments from the founders and the physician team.

Shanghai United Family Healthcare is a premium medical services chain founded by a team of senior Chinese and international physicians. Since its establishment in 2016, it has opened two high-quality outpatient clinics in Shanghai, located on the 6th floor of the West Tower at The Shanghai Centre on West Nanjing Road, and on the 3rd floor of Gopher Center on Mengzi Road in Huangpu Riverside.SinoUnited Health has become the preferred healthcare provider for a large number of clients who demand high-quality medical services. Its clientele includes insured members from over 40 domestic and international commercial health insurance companies, as well as a segment of self-pay patients. Approximately 50% of its clients are expatriates in China, while the remaining 50% are Chinese nationals.

“The report to the 19th National Congress of the Communist Party of China pointed out that the principal contradiction facing Chinese society has evolved into one between unbalanced and inadequate development and the people’s ever-growing needs for a better life. We highly endorse and support this far-sighted conclusion. Currently, there is substantial demand for high-quality medical services. As healthcare professionals, we believe that the core value of SinoUnited Health lies in its capacity to deliver higher-quality medical services to meet the growing needs of our clients. Given the relatively high costs associated with our current physician team, medical technologies, equipment, and service processes, our clientele primarily consists of individuals with commercial health insurance and those paying out-of-pocket,” stated Dr. Hao Ying Shi, Founder and CEO of SinoUnited Health.

“One of our core competencies lies in our outstanding medical team. In healthcare delivery, all equipment, instruments, and technologies serve as tools for physicians, empowering and supporting them to provide high-quality medical services. Our medical team has been built in accordance with the highest industry standards. Our patient-centric culture and commitment to pursuing high-quality healthcare have attracted many distinguished physicians to join our endeavor.”

In terms of service model, SinoUnited Health has adopted a combined model of general practice and specialty care.Currently, the healthcare systems in both the United Kingdom and the United States operate on a model combining general practice with specialized care. Many clients also find that this model facilitates the establishment of long-term communication relationships between physician groups and patients, thereby enhancing healthcare efficiency. “General practice is a crucial component of the system; general practitioners can address a wide range of issues, including routine health maintenance and preventive care.”

“If a specialist is required, the general practitioner will make an initial assessment before referring the patient to the specialist, which is highly efficient.” China has also begun to promote the general practitioner (GP) system; however, there is currently a shortage of excellent GPs domestically. SinoUnited Health has chosen to start by recruiting international general practitioners. Dr. Frank MORRIS-DAVIES, a British national and Chief General Practitioner, is an outstanding GP who has worked in Shanghai for seven to eight years and practiced in the UK for eighteen years, where he owned his own clinic. Hao Ying Shi considers Dr. Frank one of the few physicians in China with substantial hands-on experience in both overseas and Chinese general practice. Together with other GPs from the United States, the United Kingdom, and Australia—such as Dr. Wanda TAN and Dr. Stephen Misch—Dr. Frank has helped SinoUnited Health establish a GP care system aligned with international standards. This system provides patients and clients with comprehensive health management services ranging from prevention to diagnosis and treatment, allowing them to appreciate the role of general practitioners as “health gatekeepers” and successfully implementing the international GP model in China.

In terms of specialty discipline development, SinoUnited Health sets exceptionally high standards for its academic leaders in specialized fields. “Our academic leaders must possess either an international background or a global perspective, and they must be second to none in both medical expertise and customer service capabilities.” SinoUnited Health has established specialized service teams across various disciplines—including pediatrics, gastroenterology, cardiology, urology, orthopedics, physical medicine and rehabilitation, dermatology, and gynecology—staffed by such expert specialists, thereby providing robust support to its general practice system. The multidisciplinary teams at SinoUnited Health collaborate closely in accordance with international guidelines and standards to deliver more comprehensive and holistic healthcare services to clients.

At its inception in 2016, SingHealth Medical’s founding team and angel investors jointly invested nearly RMB 30 million. With the completion of this Series A financing round, SingHealth Medical has raised nearly RMB 100 million within two years. “We are deeply grateful to our investors for their trust in our team. Meanwhile, members of SingHealth Medical’s management and clinical teams also participated in the angel and Series A rounds. We will continue to pursue our vision and strive to deliver high-quality medical services in China,” stated Dr. Shi Haoying.

“Maxstar is highly optimistic about the growth potential of high-end medical services. We believe that a service model combining general practice with specialized care can better meet the full-cycle needs of high-end medical clients,“Tian Zirui, Partner at Maixing Investment, said, ‘We are delighted to collaborate with an outstanding team like Shadow Medical. We believe that the management team’s professionalism and full commitment will help Shadow Medical achieve greater customer recognition in the high-end healthcare market.’”

Maixing Investment, established in 2004, is a private equity fund management firm specializing in equity investment. Its investment focus lies in the consumer, healthcare, and technology sectors, with an emphasis on outstanding companies in their growth and early-growth stages within these fields.

SinoUnited Health Clinic, established in 2016, is a premier healthcare provider in Shanghai. It is built around a core entrepreneurial team of seasoned physicians from both international and domestic backgrounds, offering comprehensive medical services that integrate general practice with specialized care. SinoUnited Health adheres to a physician-led management and operational model, embedding professionalism and rigor throughout the entire healthcare service process. Upholding the core value of “patient-first,” the clinic delivers high-quality medical services that combine scientific excellence with humanistic care. By maintaining long-term exchanges and collaborations with renowned medical institutions both in China and abroad, SinoUnited Health not only introduces international medical resources but also brings globally standardized, high-quality healthcare services to China, ensuring clients have access to an expanded range of premium medical resources and services.