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Xinhua Silk Road
Company

Dingdang Medcine Express raises USD220 mln in new financing round

June 09, 2021


Abstract : China's leading integrated online healthcare platform Dingdang Medicine Express (Beijing) Technology Co. announced on Tuesday that it has raised 220 million U.S. dollars in its latest round of financing, the Xinhua-run Shanghai Securities News reported on Tuesday.

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A staff member manages drugs at the pharmacy of the second affiliated hospital of Zhejiang University School of Medicine in Hangzhou, east China's Zhejiang Province, Oct. 10, 2018. (Xinhua/Huang Zongzhi)

BEIJING, June 9 (Xinhua) -- China's leading integrated online healthcare platform Dingdang Medicine Express (Beijing) Technology Co. announced on Tuesday that it has raised 220 million U.S. dollars in its latest round of financing, the Xinhua-run Shanghai Securities News reported on Tuesday.

According to the report, this new round of financing was co-led by TPG Capital Asia, OrbiMed Advisors and Redview Capital.

This round of financing will help Dingdang Medicine Express carry out its online-to-offline strategy to cover services including medical care, medicine delivery and medical insurance, said Yang Wenlong, founder and chairman of Dingdang Medicine Express, adding that the company will remain devoted to accelerating the digitalization of medical care and medication, and providing one-stop service for customers.

Cai Li, general manager of TPG Capital Asia, noted that the business model of Dingdang Medicine Express combines both digitalization and healthcare in a bid to meet the increasingly public demand for digitalization and healthcare in the context of the normalization of epidemic prevention and control. 

According to Cai, TPG is optimistic about Dingdang Medicine Express's technology, business mode and development potential, and will fully support its rapid growth to benefit more users.(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: Dingdang Medcine Express

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