Through our work as the Asia HealthTech Connector, we are collating a wealth of rich information on the Asia healthtech ecosystem. We plan to share our insights with our subscribers via our point of view reports, our assessment of trends shaping the future of HealthTech in the region, access to our database and latest HealthTech funding rounds.

Reports

Stay current with our latest thought leadership, predictions and trends on the convergence of technology and healthcare 

Digital Health: Challenges and Solutions in Measuring Return on Investment (ROI), by PWC, NUS and HealthTech startup MyDoc.

This year’s PWC study on digital health illustrates
the imperative of getting the ROI measurements right for digital health investments; something which all
economies, both emerging and developed, should bear in mind.

The Asia HealthTech Investment Landscape H1 2017 Report is based on a comprehensive funding analysis based on Galen Growth Asia unique HealthTech startup database, and estimates that venture funding of HealthTech companies in 2016 and H1 2017 almost reached the $4B mark, across over 240 deals. This clearly demonstrates that the Asia HealthTech sector is scaling fast!

An interim report published by Galen Growth Asia, in association with Padang & Co and Access Health International, which summarises work to date on a major initiative in Diabetes.  This work identifies industry approaches to improving diabetes management across Asia using HealthTech, with inputs from more than 50 participants from 15 organisations, including major medical device companies, insurance and reinsurance companies, tech companies and start-ups.  Stay tuned for phase 2!

The Galen Growth Asia HealthTech 2016 report offers its readers rich insights and points of view as seen through the eyes of the Asia HealthTech founders and CEOs as well as other ecosystem operators who are all leading the transformation of healthcare from China, to India all the way to Indonesia bringing together the perspective of HealthTech CEOs from 12 countries in Asia.

Diabetes-focussed startup Holmusk conducted a comprehensive study on diabetes, which we want to share with you!

HealthTech Funding Tracker

Galen Growth Asia is tracking all noteworthy HealthTech funding events in Asia.

Month Target Funding Size ($M)/Stage Investor
February

Hao Daifu (China)

Health Services Search

Beijing-based Hudong Feng Technology, operator of online and mobile doctor's consultation and appointment booking platform Hao Daifu ("Good Doctor"), recently announced that it is soliciting USD 200 mln in new funding, led by Chinese internet and mobile services firm Tencent (0700.HK).

200.0

Series D

Lead: Tencent

February

CloudMinds (China)

Analytics

CloudMinds Inc., a Chinese start-up focused on the development of cloud-intelligence-based applications, and backed by SoftBank Group Corp., announced that it raised US$100 million in a series A funding round during a press conference held in Beijing yesterday. Founded in 2015 by Huang Xiaoqing, the former head of research at China Mobile, CloudMinds aims to build artificial intelligent "brains" on the cloud, instead of within humanoid robots.

100.0

Series A

Lead: Softbank Group International

May

WuXi NextCODE (China)

Medical Big Data

WuXi NextCODE, the contract genomics organization (CGO) building the global standard platform for genomic data, today announced that it has closed a $75 million Series B financing from the company's existing investors and partners.

75.0

Series B

Lead: Temasek Holdings, Yunfeng Capital

Followed by: Amgen Ventures, 3W Partners

January

Practo (India)

Health Services Search

The rising Indian healthcare booking platform has been growing by 90 % in patients, 80 % in appointment booking, 8X more reviews from users and by 5M+ health records shared in 2016. It further expanded into the Middle East and acquired the advanced analytics firm Enlightiks to enable to offer business intelligence solutions to healthcare enterprises.

55.0

Series D

Lead: Tencent

Followed by: Thrive Capital, Ru-Net, Matrix Partners, Sequoia, CapitalG

March

Genie Solutions (Australia)

Health IT

Melbourne-based funds manager IFM Investors is in exclusive negotiations to buy health-tech outfit Genie Solutions, sources told Street Talk on Thursday. It is understood IFM Investors, through its Steven Lipchin-run Private Capital platform, is seeking to stitch up the deal for about $55 million.

55.0

M&A

Lead: IFM Investment

May

Yitu Technologies (China)

Medical Big Data

China-focused investment firm Hillhouse Capital Group has led a RMB380 million (US$55 million) series C financing round in Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, big data and advanced hardware. The company, which supplies its face recognition technology to China Customs and China Immigration Inspection bureaus, did not disclose its valuation in the new funding round, but it was valued at US$1 billion last year.

55.0

Series D

Lead: Hillhouse Capital Group

Followed by: Yunfeng Capital, Sequoia Capital, Banyan Capital, Zhen Fund

May

Jianke (China)

Online Marketplace

Jianke, a 10-year old Guangdong-based Online Marketplace has closed a Series A+ round of US$ 50 million led by Yongbo Capital Group. The new funding will be used to continue to focus on strengthening the management of chronic disease, and on its online presence.

50.0

Series A+

Lead: Yongbo Capital Group

Followed by: PGA Ventures, Volcanic Capital, Asia-Pac eCommerce

March

Haoeyou (China)

Remote Monitoring

Shenzhen-listed Chinese smart building and smart city services provider Hakim Unique Internet Co., Ltd. has led a US$40 million series A round in Haoeyou, a digital hospital platform for Chinese patients to directly connect with doctors from the U.S. under the California Healthcom Group. Founded in 2013, Haoeyou provides a platform where Chinese patients can make an appointment with American doctors and receive remote consultancy at home via web camera. It also help patient to travel to the U.S. to receive medical treatment. The platform claims that it has over 1,000 care providers registered.

40.0

Series A

Lead: Hakim Unique Internet

April

Health Care at Home (India)

Health Services Search

Noida-based home healthcare services provider Health Care At Home India Pvt Ltd will raise $40 million (Rs 250 crore) from healthcare-focused private equity firm Quadria Capital Advisors Pvt Ltd. Health Care At Home India (HCAH India) is a joint venture between the Burmans, promoters of FMCG major Dabur India Ltd, and the founders of UK-based Health Care At Home.

40.0

Series A

Lead: Quadria Capital Advisors

February

MORE Health (China)

IOT Health & Wellness

CITIC Capital and a private equity fund jointly established by the Agricultural Bank of China and the Wuxi government have led a RMB250 million (US$36.3 million) series B round in Beijing-based mobile health management platform More Health. More health started as an incubation project under Chinese conglomerate SanPower Group. Its operator Beijing More Information Technology Co., Ltd. was founded in 2015 and has been devoted to creating a comprehensive healthcare platform integrating data collection, data analysis, health management solutions, health behavioral intervention and value-added services.

36.3

Series B

Lead: CITIC

Followed by: Agricultural Bank of China, the Wuxi government

February

CXA Group (Singapore)

Payments & Insurance

The rapidly growing Singapore-based Employee Benefits, Flex & Wellness Marketplace has a unique business solution in Asia cutting a across three out of four of our focus industries, including health & wellness, financial services and consumer services. The investment will be used to scale its existing platform and operations beyond Singapore and Hong Kong to include China, India, Indonesia, Japan, Malayisa, the Philippines, South Korea, Taiwan and Thailand.

25.0

Series B

Lead: EDBI, B Capital Group

Followed by: Royal Philips, RGAx

April

Medwell Ventures (India)

Medical Big Data

Medwell Ventures, a home healthcare services company, has raised $21 million (Rs 140 crore) in Series B funding led by Mahindra Partners, the $1 billion private equity and venture capital arm of the Mahindra Group, and existing investors including Eight Road Ventures and US-based F-Prime Capital Partners. The investment will help Medwell, which also runs the Nightingales home healthcare services brand, to expand into other parts of the country including eastern India.

21.0

Series B

Lead: Mahindra Group

Followed by: Eight Road Ventures, F-Prime Capital

Month Target Funding Size ($M)/Stage Investor
November

Stasis Labs (India)

Telehealth & Remote Monitoring

Stasis Labs, based in Bangalore and Los Angeles, offers wireless monitoring device that tracks of vitals and send them to a tablet computer, which shows the patients' trends. Until now, the device is live in a few hospitals in Bangalore. The Seed funding will be utilised to deploy its device across India and other countries.

5.0

Seed

Lead: Techstars

Followed by: RTP-Healthcare Ventures

September

We Doctor (former GuaHao) (China)

Navigating the Healthcare System

The Hangzhou-based healthcare service navigator provices online healthcare services such as online hospital appointments, payments and other services to 110 million registered users. The company plans to invest US$300M to establish an internet-based national diagnosis and treatment platform and another US$150M to set up five regional surgery centers.

394.0

Series D

Lead: Tencent

Followed by: Hillhouse Capital, Goldman Sachs

September

HaloDoc (Indonesia)

Navigating the Healthcare System

The Indonesian company connects users to a network of 18,600 lincensed doctors, 1,000 certified partner pharmacies through medical delivery service ApotikAntar, and licensed medical laboratory services. Users can communicate with these medical professionals via chat, video and voice call. The investment round will be used to build the engineering resource and develop a product suitable for mass adoption.

13.0

Series A

Lead: Clermont Group

Followed by: Go-Jek, Blibli.com, NSI Ventures

August

Health2Sync (Taiwan)

Patient Engagement

The Taipei-based company provides a cable that connects a smartphone to a glucose meter via the headphone jack to get the two devices talking. Once these devices are connected, data stored on the glucose meter will sync with the smartphone via the Health2Sync app. The funding will used to continue product development and emerge into new markets.

3.0

Series A

Lead: WI Harper Gp

Followed by: Cherubic Ventures, iSeed Ventures, SparkLabs

August

Meet You (China)

Navigating the Healthcare System

The female social network and period tracker has reported 100 million existing users and 5 million daily avtive users. The money collected will be used to allow existing USD investors to exit as the company dismantles its variable interest entity structure. The company is also in preparation of an initial public offering in the domestic stock exchange.

151.0

Series D

Lead: Matrix Partners

Followed by: K2VC, Cathay Capital Private Equity

July

Babytree (China)

Navigating the Healthcare System

The parenting portal is the leading Chinese digital resource for maternal and childcare services. The latest round of financing in RMB, indicates its intention to seek a domestic listing in the future.

437.0

Series D

Lead: Fosun Group

Followed by: Zhaojin Investment, Danfu Investment & others

June

Chunyu Yisheng (China)

Telehealth & Remote Monitoring

The Beijing-based Telehealth company finished 2015 with a profit of RMB30M (~US$4.3M). Founded in 2011, Chunyu Yisheng is preparing to spin out its online consultation business and list it via a reverse merger with a A-share company and considering the New Third Board as a potential destination for an IPO.

183.0

Series D

Lead: CICC
May

PingAn Good Doctor (China)

Navigating the Healthcare System

The healthcare service navigator and medical service app Ping An Good Doctor hit a reported valuation of US$3B, with 77 million registered users, 250,000 users daily, and more than 50,000 doctor's in China. The Series A investment of US$500 is unique in size globally. Within 1 year, Ping An Good Doctor recruited 1,000 full-time medical professionals and partners with 5,000 doctors.

500.0

Series A

Ping An
April

iCarbonX (China)

Big Data & Analytics

The Big Data & Analytics company develops artificial intelligence to interpret and mine the data and enables every individual to better manage their health and defeat diseases. The platform will also allow to facilitate research related to preventive care and precision nutrician. An valuation US$1B in six month makes it the fastest technology unicorn in the world.

155.0

Series A

Lead: China Bridge Capital

Followed by: Tencent

April

1mg Technologies (India)

Consumer Health & Wellness

The Mumbai-based Consumer Health platform operates as an online marketplace for medicine and facilitates doctor appointments and diagnostic tests. 1mg reported a growth in revenue by eight times in the last 12 month. The raised money will be used to expand the online pharmacy and diagnostics verticals and to launch digital health products, including smart prescriptions and personalised health feeds for consumers.

16.0

Series B

Lead: Maverick Capital Ventures

Followed by: Sequoia Capital, Omidyar Network

March

Prenetics (Hong Kong)

Genomics

The Hong Kong-based precision medicine company focusses on personalized, predictive and preventive treatments. Its proprietary iGenes test helps physicians prescribe medications and dosages to achieve the most effective results with the least side effects, based on a patient's unique genetic profile. The raised money will be used to launch new products and services out that will continue to shape the future of healthcare.

10.0

Series A

Lead: Ping An
January

Obino (India)

Big Data & Analytics

The India-based company builds an artificial intelligence (AI) based-interface so that users can be coached via the app. Obino finished 2015 with 10,000 weekly users and about 500 paid customers.

undisclosed

Series A

Lead: RoundGlass Partner

Month Taget Funding Size ($M)/Stage Investor
November

Signostics (Australia)

Sensors & Diagnostics

The Adelaide-founded company offers the handheld ultrasound technology "SignosRT ultrasound system" and will launch its bladder scanner "SignosRT Bladder system in 2016. The new round of funding will be used to grow jobs in Tonsley (SA).

35.0

Series C

Lead: KKR

October

Attune Technologies (India)

HPC Management

The Channai-based company delivers an integrated cloud-based platform for healthcare delivery organisations. The platform interfaces with over 1100 devices such as lab analyzers and ICU machines to absorb labs into the health network. It can serve a single GP clinic up to a national HIS/EMR network. Raised investment will be used to fuel the company’s growth in India and to accelerate its expansion into international markets like Africa, West Asia and South-East Asia.

3.0

Series B

Lead: Qualcomm

Followed by: Norwest Venture Partners

October

Welcome Cure (India)

Consumer Health & Wellness

The Mumbai-based company offers a platform for homeopathic treatment, which it claims to deliver all across the world. Users first need to sign up on the platform post which they can enter the health problems they have. The platform will use 10 percent of the funding for developing tech, 20-25 percent for talent and doctor acquisition and the rest on marketing and user acquisition.

6.0

Pre-series A

Lead: Bennett, Coleman and Co
September

Portea Medical (India)

Sensors & Diagnostics

The Bangalore-based home healtcare company reported it adds about 5,000 new user monthly and has 60,000 visits per year. Portea Medical combines highly trained physicians and technology to improve health outcomes, efficiency and accessibility for patients.

37.5

Series B

Lead: Qualcomm

Followed by: IFC, Accel Partners

April

1mg (former HealthKartPlus) (India)

Consumer Health & Wellness

Gurgaon-based Bright Lifecare Pvt Ltd has rebranded its online medicine store HealthKartPlus to 1MG and spun it off into a separate company 1MG Technologies Pvt. Ltd. The funds from this round of investment will be used for scaling up its business and expanding its operations to other cities like Mumbai, Hyderabad, Chennai, Pune and Chandigarh by end of 2015.

6.0

Series A

Lead: Sequoia Capital

Followed by: Kae Capital, Intel Capital, Omidyar Network

April

DocDoc (Singapore)

Navigating the Healthcare System

The Singapore-based doctor-booking platform's basic premise provides concierge services – a dial-up Q&A center, specifically – for patients looking to learn more about their choice in doctors. DocDoc is currently present in Thailand, Malaysia, Hong Kong, Singapore, and the Philippines. The new capital will used for marketing and branding development activities.

8.5

Series A

Lead: Hong Leong Financial Group

Followed by: SparkLabs Global Ventures

April

Huakang Mobile Health (China)

Navigating the Healthcare System

The Shenzhen-based company offers doctor appointment reservation, online medical consultation, payment, and digital health record in their platform. The revelation of the new funding round follows the announcement of an established strategic partnership with Ali Health a week before.

32.0

Series B

Lead: Yufeng Capital

Followed by: Shenzhen Co-Win Venture Capital Investments Limited, New Horizon Capital

April

Practo (India)

Navigating the Healthcare System

Just two month after announcing a Series B funding, Practo closed its third round of funding. The investment will be used to expand Practo's segments with fitness, wellness, hospitals as well as expanding its business to over 10 countries. They further plan to expand.

90.0

Series C

Lead: Tencent Holdings

Followed by: Sofina, Sequoia, Google capital, matrix, and others

March

Healint (Singapore)

Telehealth & Remote Monitoring

The Singapore-based health analytics startup offers the migrane tracking app "Migraine Buddy". The money will be used to strengthen the company's local intellectual development and for growth expansion into markets with high mobile penetration, such as Japan.

1.0

Seed

Lead: Wavemaker Pacific

Followed by: Gree Ventures, NRF, Shinryoku

February

Connexions Asia (Singapore)

Navigating the Healthcare System

The Singapore-based Insurance and Wellness marketplace offers customised benefits and wellness packages for employees and provides a tool for employers improve their workforce health, cap premium increases and reduce their workload burden through automation of administrative processes and vendor consolidation. The funding will be used towards regional expansion and scaling of its platform.

8.0

Series A

Lead: NSI

Followed by: BioVeda

February

Practo (India)

Navigating the Healthcare System

The India-based healthcare booking platform offers two products, Practo Search, the largest doctor search engine in Asia with 4M montly searches, and Practo Ray a clinic management software. The new money will be used to expanded to 35 cities in India and more within Asia, and to increase their headcount by 150% till the end of 2015.

30.0

Series B

Lead: Sequoia Capital

Followed by: Matrix Partners

February

BabyTree (China)

Navigating the Healthcare System

The parenting portal is the leading Chinese digital resource for maternal and childcare services. The money will be used to extend BabyTree's e-commerce operations with the help of their new investor. The investment round is the highest ever recorded by a Chinese company in the maternity and baby market

300.0

Series C

Lead: Jumei

Followed by: unnamed