Investcorp, a Bahrain-based private equity firm, has made a strategic investment in a Chinese company Kindstar Globalgene. It is reported that the investment will bolster Investcorp’s newly rolled out investment platform in Chinese healthcare companies.
The Bahrain-based company acquired minority stakes in the following companies: WeDoctor and Lu Daopei Medical. Kindstar Globalgene is a Wuhan headquartered company established in 2003. The company offers advanced specialty testing services across hematology, gynecology and pediatrics, infectious diseases, oncology and neurology for patients and doctors. The company currently serves 3,000 hospitals in over 600 cities in China.
Furthermore, Kindstar Globalgene is backed by some of the leading global healthcare organisations, creating a strong extensive global network. Investcorp’s investment expects to boost the company’s growth and development.
Hazem Ben-Gacem, co-CEO of Investcorp, told the media, “Our focus on healthcare opportunities in China allowed us to identify Kindstar which has built impressive capabilities for improving the quality of healthcare through severe diseases related testing. We believe that Kindstar has significant growth potential driven by accelerating demand for precision medicine, an underserved market and the company’s broadening advanced solutions to address an even wider range of specialty healthcare needs. We are proud to support Kindstar and its first-class management team in executing its exciting growth plans.”
The medical sector in China is growing steadily since the last decade and it is expected to attract more global medical tourists this decade. The Chinese healthcare system ranks 144th in the world, according to the World Health Organisation.