Ping An Insurance has raised almost $1bn in funding for its medical data analysis unit ahead of an initial public offering for the business, with investors including the SoftBank Vision Fund.
Ping An Healthcare Management, the medical data collection and analysis subsidiary of China-based insurance provider Ping An Insurance, has raised almost $1bn in funding co-led by telecoms conglomerate SoftBank, Reuters reported on Thursday.
SoftBank co-led the round through its Vision Fund, supplying $400m, alongside fellow lead investor financial services firm SBI Holdings, which provided $450m. The deal valued Ping An Healthcare Management at $8.8bn.
The funding, which has not been officially confirmed yet, comes ahead of an expected initial public…
