HSBC invests in MediTrust in mainland China and will partner to offer a broad suite of healthcare solutions
The HSBC Group has announced that it has made a strategic investment in Shanghai MediTrust Health Technology Co. Ltd. (MediTrust), one of the leading online healthcare solutions providers in mainland China.
MediTrust’s extensive network that includes international and mainland China local pharmaceutical companies, pharmacies, hospitals and wellness service providers, provides health and medical services to over 200 million insurance policyholders in more than 100 cities. The investment into MediTrust is part of HSBC’s strategic investment agenda in companies that will support the delivery of the Group’s growth strategy, particularly in Asia’s burgeoning wealth and health space.
In addition to the investment, HSBC and MediTrust will collaborate on a number of initiatives to expand their respective businesses and deliver a broad range of health, wellbeing, and protection solutions for customers in the world’s second largest healthcare market. The partnership will help expand HSBC’s mass affluent and high net worth customer base, help customers to identify credible health related information and connect them to quality medical and health services across the country and internationally via MediTrust’s network. At the same time, the partnership will help MediTrust to innovate and extend its existing reach.
Nuno Matos, Chief Executive, Wealth and Personal Banking, HSBC commented, “Our investment in MediTrust underscores our strategic focus on growing our health, protection and wealth capabilities in mainland China and, importantly, across the Greater Bay Area. Our customers want easy and efficient access to quality healthcare. They want to be financially prepared for rising healthcare costs, while adopting more active and healthy lifestyles. This partnership allows us to access MediTrust’s comprehensive network of pharmaceutical companies, expertise in supporting customers looking for coverage for a wide range of diseases, and innovative product and claims systems.”
Seth Zhang, Founder and CEO of MediTrust said, “We are pleased to receive investment and partner with HSBC, one of the world’s renowned financial services organisations, which shares the same aspiration to grow in the medical and health markets in mainland China. This partnership enables us to leverage HSBC’s global network and capabilities to jointly develop industry-leading medical and healthcare solutions. I look forward to working with HSBC to accelerate innovations in our medical and health services and digital products – both in terms of scope and depth, and to help in building out mainland China’s multi-tiered healthcare system.”
Catherine Zhou, Global Head of Ventures, Digital Innovation & Partnerships, HSBC said, “We’re delighted to invest in a leading health-tech platform like MediTrust as we expand our investment portfolio in the Asia- Pacific region. Along with offering new services for our customers we will be able to co-develop innovative solutions in the growing area of financial services and health in mainland China This is amongst the first investments of HSBC Ventures in the mainland, setting to craft a unique customer experience in the world’s second largest healthcare industry.”
In addition to the investment and partnership, HSBC and MediTrust will donate essential medical equipment for elderly in the second and third tier cities.
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