China’s online healthcare platform Jianke secures $130m Series B, led by GTJA
Jianke, the largest online B2C pharmacy platform in China, has closed a $130-million series B financing round led by Shenzhen-based healthcare-dedicated investment firm GTJA Investment Group, according to the company’s announcement on Tuesday. Other investors including HBM Healthcare Investments and Crescent Point also joined the round. Founded in 2006, Jianke is the first licensed online pharmacy enterprise in Guangdong. It currently holds the full set of B2B and B2C pharmaceutical distribution licenses. The company plans to use the proceeds to improve access to quality medical and pharmaceutical resources for patients in underserved regions across China. “As a clear industry leader, Jianke’s platforms and disruptive business model are changing the way people access efficient and professional health services and products online. The company is well-positioned for continued rapid growth,” said Wang Hai Jiao, Partner at GTJA Investment Group. Jianke has invested and developed a number of physical and ‘Internet’ hospitals in China as well as formed partnerships with healthcare giants such as Abbott and Gilead Sciences. It offers 680,000 SKUs and healthcare advisory services to over 100 million customers cumulatively, says Jianke, adding that a repeat purchase rate of its customers is over 50 per cent. GTJA Investment has the largest team for healthcare investment in China with the assets under management of RMB20 billion ($2.9 billion). It has raised 24 funds and invested in over 130 companies, of which 60 are in the healthcare industry.