China Medicine On-Line Ltd., a Chinese provider of telemedicine services, has raised $8 million from the Infinity I-China Fund, a venture vehicle managed by Israel-based Infinity Equity.
Infinity Equity announced today that the Infinity I-China Fund is investing $8 million in China Medicine On-Line Ltd., a telemedicine services provider in
China Medicine On-Line is the leading national integrated healthcare network in
“We are delighted to partner with Infinity Equity, which we consider not only a prime investor but also a valuable partner from which to source cutting edge Israeli medical devices to add to our robust platform. What we have been providing to the public with the panic button is a thriving and important service in
The China Medicine On-Line platform, which is licensed and approved by the Chinese government, is able to support a wide variety of medical device accessories. It is planned to enhance the platform with complementary, portable medical products, developed in
“This is the first medical oriented investment by the I-China Fund and one that we believe will have a significant impact.
“We conservatively estimate the market for the panic button service at nearly $700M and the market for future consultation services at more than $1B. We believe today's investment will not only render significant positive ramifications for the future of telemedicine in China but also turn an impressive return on investment for all participants,” said Mr. Ariel Poppel, CFO of Infinity Equity.
About Infinity Equity
Infinity Equity, founded by Clal Industries and Investments Ltd. from the IDB group, is one of the leading Israeli-related funds managing more than US$600 million and a portfolio of 45 companies. Since June 2005, Infinity has had 14 successful exits. Infinity has a highly experienced international team spanning the globe with offices in
China Medicine On-Line, Ltd. (CMO) was incorporated in 1997 in Hong Kong SAR, PRC with its entire operations within the People's Republic of China through its owned subsidiaries – Shanghai Homecare & Healthcare Services Co., Ltd. and Nanjing Homecare & Healthcare Services Co., Ltd. CMO is established to build up a nation-wide integrated network to provide tele-homecare and tele-healthcare (2HCare) services through its dedicated call centers. The company also has plans to leverage its platforms to provide value added services and hi-tech medical products for further business growth.