China / Top Stories

China healthcare in spotlight

By May Zhou In Houston (HK Edition) Updated: 2016-05-20 11:37

China's demand for medical services is being met by some American healthcare companies that are starting operations overseas.

Of more than 100 projects presented to Chinese investors, more than half were healthcare-related, according to Lu Jun, executive director of the US China Innovation Alliance, one of the major organizers of the US China Innovation and Investment Summit, which took place in Houston earlier this week.

"In recent years, we see dramatically more Chinese coming to the US for medical treatment. In addition, a lot of Chinese companies are seeking to acquire US innovative companies or technologies to meet medical demand in China," said Lu, who also serves as the vice-president and partner at Vesalius Ventures, a firm connecting Chinese and US healthcare companies.

China's demand has taken two such companies based in Houston to China.

Technology company 2nd.MD began to offer medical consultation from top American specialists via video teleconferencing about five years ago, and it has been in the Chinese market for more than a year.

For 2nd.MD, it was easy to access the China market - the company was eagerly sought out by the Chinese.

"We had more than 100 groups from China reaching out to us. Vesalius Ventures helped us to determine who the best potential partners are," said Jason Melton, co-CEO of 2nd.MD.

Lu said his firm helped 2nd.MD pick strategic partners, including Neusoft Xikang, China's largest distant medical treatment company.

Currently, 2nd.MD works with three partners in China. It counsels 30 to 40 Chinese clients per month, but the number is expected to rise to 400 to 500 a month in the next 12 to 18 months, Melton said.

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