The SoftBank and Sinopharm-backed medicine delivery service will allocate the funding to diversifying its business, potentially adding teleconsultation, counselling and insurance.

Dingdang Health, a China-based drug delivery service backed by telecommunications and internet conglomerate SoftBank, insurance group Taikang, medical equipment maker Haier Biomedical and pharmaceutical group Sinopharm, secured $220m in funding today.

The round was co-led by TPG Capital Asia, a regional subsidiary of private equity firm TPG, with investment firms OrbiMed and Redview Capital. It included investment group Orchid Asia’s Travis Global affiliate, Summer Capital, Valliance and Yingke PE.

Founded in 2014 and also known as Dingdang Kuaiyao in Chinese,…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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