Abu Dhabi Capital Group is optimistic about China's digital medical sector and evaluating participation in MedSci Health HK IPO
United Arab Emirates - April 3, 2023 —
In an recent interview, Al-Balaghi Praveen Ahmed from Abu Dhabi Capital Group, said that the focus of Middle Eastern capital has shifted towards Asia, particularly China, due to their promising economic growth after the COVID-19 pandemic.
Ahmed mentioned that the group is optimistic about China's digital medical sector and has noticed the Chinese government's recent efforts to encourage the integration of information technology into healthcare platforms, resulting in improved internet medical applications. Ahmed further stated that the group has been gradually increasing its investment in China's digital healthcare sector, including its portfolio companies such as JD Health and Ping An Good Doctor, which have performed well financially in 2022.
Ahmed further explained that the group is exploring investment opportunities in Chinese companies that are planning to go public in Hong Kong and US. After a period of low activity, the IPOs in the Hong Kong market are becoming reasonable and have room for arbitrage.
The group is also reportedly negotiating with banks and evaluating the possibility of investing in the IPO debut of MedSci Healthcare, an internet-based physician service platform that provides digital marketing of pharmaceutical products, online physician research assistance, real-world research services, and paid medical knowledge.
Ahmed believes that MedSci has a business model and main business that can comparable with Doximity (DOCS.US) and M3 (2413.JP), which represent the mega stocks and market leader in the US and in Japan respectively. MedSci is the leader in China's digital healthcare market, which is still in its early stages, with high potential growth rates and low penetration rates.
Ahmed also noted that it’s interested to find that MedSci is similar to another Hong Kong listed Chinese company, Medlive (2192.HK). In terms of business and performance, MedSci out-perform Medlive in 2022, but has a lower valuation, making its IPO an attractive investment opportunity.
Abu Dhabi Capital Group's interest in China's capital markets is not surprising given the recent entry of Middle East capital into the Chinese market. For example, on March 27th, Saudi Aramco strategically invested RMB 24.6 billion in Rongsheng Petrochemical, a Chinese A-share listed company, with a 10% stake. On March 22nd, JD Group's subsidiary, JD Industrial, announced the completion of a $300 million B-round of financing, with Mubadala Investment Company and UAE investment fund 42XFund as lead investors.
Abu Dhabi Capital Group, one of the most well-known investment groups in the UAE, manages assets exceeding $20 billion and collaborates with other UAE investment institutions, such as the Abu Dhabi Investment Authority and Mubadala Investment Company.
Contact Info:
Name: Sylvie Young
Email: Send Email
Organization: Abu Dhabi Capital Group
Website: https://www.adcg.ae
Release ID: 89093319
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