Dubai: Bahrain's asset management company Investcorp has made its second successive investment in a Chinese healthcare company, this time in Kindstar Globalgene. The latter is into medical testing services and serves more than 3,000 hospitals in more than 600 cities in China.
It was founded in 2003 in Wuhan, which in December became the epicentre of the COVID-19 breakout. "Our focus on healthcare opportunities in China allowed us to identify Kindstar which has built impressive capabilities for improving the quality of healthcare through severe diseases related testing," said Hazem Ben-Gacem, Co-CEO of Investcorp.
"We believe that Kindstar has significant growth potential driven by accelerating demand for precision medicine, underserved market and the company’s broadening advanced solutions to address an even wider range of specialty healthcare needs."
Kindstar is further supported by its extensive global network, which includes the likes of Mayo Clinic, Illumina and Novartis. In September, Investcorp announced that it had acquired minority equity stakes in Lu Daopei Medical Group, a hematology hospital group in China, and WeDoctor, a leading online healthcare services company.
Investcorp is focused on investing in Chinese healthcare companies that have remained resilient throughout the pandemic and expected to experience accelerated growth.