Exchange Database

US firm invests in Chinese medical tourism provider

Medical tourism, or traveling to another country for medical care, is a growing business and has now attracted the attention of private investors. Sequoia Capital, a US venture capital firm based in Menlo Park, California, has invested in Saint Lucia Consulting Ltd, a Chinese company specializing in medical tourism. Saint Lucia, based in Beijing, brings Chinese patients to the US for treatment. Sequoia Capital China and Beijing Saint Lucia Consulting signed an agreement last month in which Sequoia agreed to invest 50 million yuan ($8.06 million) in the Chinese company. The deal follows a trend of expanding the market for medical tourism. The investment is expected to enable more patients in China receive medical care in the US and other countries.
Outcomes: 
Saint Lucia Consulting is a member of the Medical Tourism Association (MTA) based in the US, a global non-profit association for medical tourism and international patients.Saint Lucia provides assistance to patients by sending employees on their tours to help them. Employees help patients with travel plans, medical records, and receiving approval from foreign hospitals. Only a few Chinese companies provide medical tourism overseas. Saint Lucia has signed agreements with top hospitals in the US, United Kingdom, Germany, South Korea and Singapore. The company has already worked with Massachusetts General Hospital in Boston and the Mayo Clinic in Rochester, Minnesota in the US, and Wellington and Royal Brompton Hospitals in the UK. Foreign patients coming to the US for treatment has been fairly stable and has been around for a while. Chinese businesses, or international businesses with employees in China, often come to the US for routine checkups, according to the Mayo Clinic.
Source: 

http://usa.chinadaily.com.cn/world/2014-08/12/content_18290331.htm

Government?: 
No
Type of Exchange: 
business
education/science
Partners: 
Sequoia Capital
Saint Lucia Consulting Ltd
Participants (Types): 
medical tourists, investors,
Exchange Date: 
Tuesday, August 12, 2014
Continuing: 
No
Location: 
Menlo Park, California
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