A strategic investment has been made by HSBC Ventures in a major online healthcare platform in mainland China.
HSBC has made a strategic investment in Shanghai Meditrust Health Technology through HSBC Ventures, according to a statement. This marks one of the first investments HSBC Ventures has made in China and is part of the bank's agenda to support its growth strategy, particularly in Asia’s wealth and health space.
Meditrust is an online healthcare platform providing health and medical services to over 200 million insurance policyholders in more than 100 cities in China.
Collaborative Initiatives
In addition to the investment, HSBC and Meditrust will collaborate on various initiatives to expand their respective businesses.
For HSBC, the partnership will help expand its mass affluent and high net worth client base, identify credible health-related information for customers and connect them to medical and health services in China and internationally via Meditrust’s network. And for Meditrust, the partnership will help it to «innovate and extend its existing reach».
«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,» said Nuno Matos, wealth and personal banking CEO at HSBC.
