Virtus Medical Group Announces New Strategic Investors

Shanghai Healthcare Capital, along with Mitsui and MediTrust, invest in and partner strategically with Virtus, cementing Virtus's Leadership in Private Healthcare Services, and Propelling Healthcare Innovation.

HONG KONG, March 14, 2024 /PRNewswire/ -- Virtus Medical Holdings Limited ("Virtus Medical" or the "Group"), a leading private specialist service provider in Hong Kong, today announced the successful completion of new capital raising for an undisclosed amount.  The funding round was led by Shanghai Healthcare Capital (SHC), along with Mitsui & Co., Ltd. (Mitsui), and Shanghai MediTrust Health Technology Co. Ltd. (MediTrust).

With the regional cooperation in financial, medical and healthcare sectors continues to deepen in recent years, there are emerging opportunities presented in the private healthcare market by the cross-border healthcare development in Hong Kong and around its gateway connections. This strategic investment plays a pivotal role with Virtus Medical joining hands with SHC, Mitsui, MediTrust and a group of leading institutional investors including Cenova Capital, Government of Singapore Investment Corporation (GIC) and Samena Capital to focus on utilizing big data and insights, leveraging technology advancement to improve patient care, elevating the healthcare value chain, and driving quality healthcare and innovation to the market.

Since 2018, Virtus Medical is committed to driving adoption of advancements in medical technologies and delivering comprehensive care to address the evolving healthcare needs of the community. The Group has consistently demonstrated its capabilities and expertise in delivering high-quality healthcare services. The Group boasts a team of over 60 specialists, along with more than 40 general practitioners and allied healthcare professionals.

The successful completion of this funding round serves as a testament to the Group's proven track record, solidifying and affirming its position as a healthcare leader in the industry. Virtus Medical plans to utilize this funding and leverage the new investors' global operations, collaborating the shared knowledge of innovation and patient care to strengthen its operation and pursue strategic acquisitions that complement its existing capabilities. The Group will also build on existing partnerships with leading insurance and corporate institutions to harness the development of new healthcare services and solutions for the customers in the territory.

The funding secured in this round will empower Virtus Medical to fuel its growth strategies, expand its network, and enhance its range of medical services. By leveraging the expertise and support of its investors, Virtus Medical is committed to driving advancements in medical technologies and delivering comprehensive care to address the evolving healthcare needs of the community.

Dr. Manson Fok, Chairman of Virtus Medical expressed, "We are privileged to have attracted new capital and partners, and the completion of this funding round is a significant milestone as we solidify our leadership position in quality private healthcare. The combined strategic strengths among our existing and new shareholders open to us an unprecedented window of opportunity to continue the journey in delivering best in class healthcare services and onboarding innovations."

Mr. Samuel Poon, CEO of Virtus Medical stated, "We are excited about the opportunities that lie ahead and the potential to further enhance our offerings through cross-border healthcare development. The additional capital allows us to invest strategically, so we can deliver on our mission to develop an evidence-based healthcare practice with a patient-centred culture, providing personalised total health solutions through integrated approaches. Moving forward, our medical team will collaborate closely with our financial backers to deliver even better patient services."

Ms. Leng Wei Qing, Chairman of Shanghai Industrial Investment (Holdings) Co., Ltd said, "We see an untapped opportunity in creating an integrated value chain within the Greater Bay Area's healthcare ecosystem.  Our strategic partnership with Virtus Medical elevates our ties between Shanghai and Hong Kong, and will strengthen the healthcare services in bridging the gap that's needed to create this value chain. Our partnership will also see us utilizing the latest technology and innovation to enable us to add more value to product offerings for the insurance industry and to our corporate partners. I am most delighted to work together with Dr. Fok and the Virtus Medical team to deliver on this vision together."

Mr. Takeshi Saito, General Manager of Healthcare Network Business Division at Mitsui & Co., Ltd. said, "Our partnership with Virtus Medical will create collaboration opportunities with our presence globally. We are very excited to share and exchange our knowledge in business development, operational improvement, digital transformation and patient experience, to reach new heights together. We will also look at continuous growth in assets and introduction of new medical innovative technology to add value to the team at Virtus Medical."

Mr. Seth Zhang, Founder and CEO of Shanghai MediTrust Health Technology Co. Ltd. said, "We see opportunities to enhance healthcare services. This collaboration will create great synergy with our partners in insurance sector and corporates to create value add in providing personalised healthcare for the new generation."

About Virtus Medical

Established in 2018, Virtus Medical upholds the vision of developing an evidence-based healthcare practice with a patient-first culture, providing services to the needed.  Virtus Medical brings together more than 60 specialists of different disciplines and over 40 general practitioners and allied health professionals to offer a multidisciplinary medical approach across different stages of a complete health cycle – Prevention, Diagnosis, Treatment and Rehabilitation. Virtus Medical provides its services from Virtus Medical Tower, a 15-storey medical facility located in the heart of Central, together with 12 specialist centres and two multidisciplinary medical centres across Central and Tsim Sha Tsui in Hong Kong.

www.virtusmedical.com

About Shanghai Health Capital (SHC)

With the approval of the Shanghai municipal government, Shanghai Industrial Investment (Holdings) Co., Ltd. (SIIC) established Shanghai Healthcare Capital (SHC) with market-oriented, professional and international operation principles. The total fund scale of SHC reached 50 billion RMB.  By making full use of the comprehensive advantages of Shanghai, Shanghai Healthcare Capital utilizes the industrial resources to create a leading innovative investment platform in the life science industry based in Shanghai and Hong Kong, with strong links to the Yangtze River Delta and the world, so as to assist Shanghai to establish a top tier biomedical research and development center and manufacturing center in the world.  We focus on breakthrough biologics, innovative chemical drugs, high-end medical devices and diagnostics, and innovative business platforms, not only through the integration of capital and industrial resources but also international and domestic operations.

https://siicshc.com/

About Mitsui & Co., Ltd.

Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.  The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders. Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

https://www.mitsui.com/jp/en/index.html

About Shanghai MediTrust Health Technology Co., Ltd.

MediTrust is a leading health technology company based in Shanghai. It connects and empowers healthcare professionals through its comprehensive online platform, facilitating communication, collaboration, and knowledge sharing. MediTrust focuses on developing innovative features and tools tailored to the needs of healthcare professionals, including telemedicine services, electronic medical records, and online consultations. With millions of registered doctors, MediTrust has become a trusted community, aiming to bridge gaps in the healthcare system, improve efficiency, and empower physicians to enhance patient outcomes. As a pioneer in China's digital healthcare sector, MediTrust continues to innovate and shape the future of the industry. Recently, it completed its Series C round funding, attracting strategic investors like HSBC Group and other prominent institutions, including China Life Reinsurance Co., Ltd and Shanghai Health Capital.

https://www.meditrusthealth.com/