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Tencent to merge its medical unit with Trusted Doctors

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Tencent to merge its medical unit with Trusted Doctors

Chinese internet giant Tencent Holdings Ltd. is merging its medical unit, Tencent Doctorwork with Shanghai-based startup Trusted Doctors to form a new private healthcare network, the South China Morning Post reported Aug. 9.

The new venture, Tencent Trusted Doctors, will reportedly offer online and offline services across 33 clinics in eight cities, and will be led by Tencent Doctorwork founder Wang Renrui as CEO, while Trusted Doctor chief executive Martin Shen will serve as president of the new group, the report said, citing a statement and confirmation from Trusted Doctors. Both medical units will continue to operate using their current names.

Launched in 2014, Trusted Doctors is a platform for over 430,000 registered doctors in China. Meanwhile, Tencent Doctorwork was established in 2016 and is a medical services venture with online management systems and 23 brick-and-mortar clinics across the country.

Financial details of the deal were not disclosed.