Gu Sheng Tang, a Guangzhou city-based traditional Chinese medicine clinic franchise, has raised a RMB1.01 billion (US$150 million) series D round from a number of Chinese stated-owned enterprises and financial institutions.
The new funding round consists of RMB510 million (US$75 million) in equity financing and RMB500 million (US$74 million) in debt financing. Investors including China State-owned Capital Risk Investment Fund, China Life Insurance Co., Ltd., CMB International, China Orient Asset Management Co., Ltd., as well as two unnamed government guidance funds, participated in the deal.
Founded in 2010, Gu Sheng Tang operates a network of traditional Chinese medicine clinics under a partnership model with doctors. Gu Sheng Tang owns 70% of any new clinic in its network, with the partnering doctors holding the remaining 30%. Gu Sheng Ta...
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