Chinese insurance giant Ping An raises US$500m for app

The funds will be used to improve online consulting services including online appointment booking, chronic illness management and medicine delivery

Insurance News

By Louie Bacani

Ping An Insurance’s mobile healthcare application developer has raised US$500 for an online platform that connects users and doctors.
The insurer’s subsidiary, Ping An Health Cloud, has completed its latest funding round for mobile healthcare app Ping An Haoyishen, increasing the company’s value to US$3 billion, DealStreet Asia reported.
App creator Wang Tao said the proceeds will be used to enhance online consulting services such as online appointment booking, chronic illness management, medicine delivery and recruitment of doctors, according to the report.
The funding will also be used to help the government set up healthcare clouds to maintain files on local citizens and make an incubation fund to invest in healthcare-related firms.
Founded in August 2014, Ping An Haoyisheng is an online platform that enables users to consult with doctors through text, photos and video.  
The app also operates an online store for healthcare products and offers pharmaceutical online-to-offline service.
According to DealStreet Asia, the app claims to have 77 million registered users and gives 250,000 peak daily consultations.

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