Leyue Health lays out $16.1m series B

China-based patient data provider Leyue Health obtained RMB115m ($16.1m) on Thursday in a Cowin Capital-led series B round backed by CAS Investment Management, a subsidiary of Chinese Academy of Sciences.
Founded in 2014 and officially named Shanghai Leyue Information Technology, the company operates a big data-driven platform enabling insurance providers to access patient data held by hospitals and medical centres in order to facilitate claims, underwriting and other industry obligations.
Leyue Health’s data library pools information from 3,254 public hospitals in addition to 11 provincial and municipal healthcare committees and 15 health insurance companies.
The latest cash injection will fund further development of the data network, as Leyue considers forays into adjacent health insurance segments.
Enterprise, industry and government software products group Sinosoft Technology equipped Leyue Health with an undisclosed sum in mid-2017, adding to a series A round of undisclosed size backed by CAS subsidiary Cash Capital and Green Pine Capital Partners the previous year, and an undisclosed angel sum from Blue Focus in early 2015, according to China Money Network.
Zhang Xin, vice-president of Cowin Capital, said: “Leyue Health has the opportunity to create a new chapter for the insurance industry. As a former senior insurance regulator, I understand the insurance industry’s eagerness in having access to medical data.
“The industry, which combines finance with technology to serve enterprises […] will transform the traditional way of using statistical law with the introduction of internet information.”