DLA Piper has advised Ping An Good Doctor, a healthcare and medical mobile app launched by Ping An Insurance Company of China, Ltd., on its US$ 500 million Series A financing.
Ping An Good Doctor app was launched in April 2015. It provides online consultation services, patient management, pharmaceutical online-to-offline services, digital health profiles among others. As of April this year, it has 77 million registered users and partnered with over 50,000 doctors from public and private hospitals across the country. According to Chinese media, this is the single largest investment in China’s online medical service platforms.
?Good Doctor's investors include private equity firms, Internet companies as well as PRC state-owned enterprises.
The DLA Piper team advised Ping An Good Doctor on the onshore and offshore financing structure; negotiations with the lead investor and other investors; transaction process management as well as other complex legal issues related to the financing.
The DLA Piper team was led by partner, Kit Kwok, and comprised of Pannie Yiu, Senior Associate, Chen Ji, Associate and Lilly Li, Legal Assistant (all Corporate, Shanghai).
DLA Piper has had a long standing relationship with Ping An Insurance (Group). In January 2016, Kit and his team advised one of Ping An's affiliates, Lufax, an online financial services platform on its fund-raising and acquisitions with total deal size of over US$ 1.8 billion.