Medtronic has joined forces with Sequoia Capital and Suzhou-BioBay to invest in healthcare technology startups based in, or which intend to expand into, China.
US-based medical equipment maker Medtronic has jointly launched a $60m fund for China-based healthcare technology startups with venture capital firm Sequoia Capital, China Money Network reported on Friday.
Suzhou-BioBay, a China-based biotech accelerator, has joined the fund as a limited partner and strategic backer.
The Medtronic-Sequoia China Healthcare Technology Venture Investment Fund will focus on startups in China that show potential for international expansion, and on foreign businesses that are likely to succeed in the country.
Startups will receive both…
