Sequoia Capital China has made a strategic investment in Hong Kong Asia Medical Center, a Chinese cardiology hospital operator.
The companies did not disclose financial details, but said the investment is worth hundreds of millions RMB (RMB100 million equals US$14 million).
"Healthcare has always been a key focus for Sequoia Capital China, especially medical services," said Neil Shen, founding managing partner at Sequoia. "We are very optimistic about the team at Hong Kong Asia Medical Center, which has navigated in this sector for nearly 20 years and led the company to be a leader in the cardiovascular care space."
Founded in 2010, Hong Kong Asia Medical Center focuses on cardiology and heart disease care, in addition to providing services in general health and dentistry. Currently, it operates a number of cardiology hospitals in Wuhan, Xinjiang province and other cities, with a total of 3,000 hospital beds.
Wuhan Asia Heart Hospital, under the management of Hong Kong Asia Medical Center, is the third largest heart hospital in China in terms of cardiac surgery volume.
Cardiac disease has one of the highest incidence in China with a total of 290 million patients across the country.
Hong Kong Asia Medical Center plans to use the latest proceeds to expand its mainland and overseas operations and improve service standard of cardiac treatment in China.
Sequoia Capital, with RMB50 billion (US$7.2 billion) under management, has previously invested in around 50 companies in healthcare, including Betta Pharma, genetic sequencing giant BGI and Shenzhen New Industries Biomedical Engineering.