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Medical provider gets funds to expand
By Ding Yining |
January 7, 2010, Thursday
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Print Edition
Print Edition
AMERICAN Pacific Medical Group, a medical service provider which targets China's high-end market, said yesterday it has received US$25 million from Cathaya Funds to expand its presence in the domestic market.
The group, which set up its first joint venture specialized neurosurgery clinic in Shanghai, plans to be listed in the United States later this year. The funds it has received before it launches an initial public offering will enable the group to expand medical care cooperation with local hospitals and medical institutions.
"APMG is the pioneer in China's medical care industry, and we hope to work with it closely to expand its successful model throughout China," said Priscilla Lu, managing partner and founder of Cathaya Funds.
APMG, which has more than 10 medical institutions via joint ventures with hospitals in Shanghai and Beijing, was one of the earliest international health care service providers in the market.
"The capital injection will help accelerate the growth of APMG in China," said Michael Choy, founder and chairman of the group.
The group, which set up its first joint venture specialized neurosurgery clinic in Shanghai, plans to be listed in the United States later this year. The funds it has received before it launches an initial public offering will enable the group to expand medical care cooperation with local hospitals and medical institutions.
"APMG is the pioneer in China's medical care industry, and we hope to work with it closely to expand its successful model throughout China," said Priscilla Lu, managing partner and founder of Cathaya Funds.
APMG, which has more than 10 medical institutions via joint ventures with hospitals in Shanghai and Beijing, was one of the earliest international health care service providers in the market.
"The capital injection will help accelerate the growth of APMG in China," said Michael Choy, founder and chairman of the group.
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