Appleby acted as Cayman Islands counsel to QTC Care Corporation Ltd. (QTC Care) in relation to its circa USD 5 million series A financing, as part of the USD 7 million investment led by a Chinese internet giant, Tencent, followed by several other top investors in China.
The transaction was led by Counsel Vincent Chan, who is based in Appleby's Hong Kong office.
QTC Care is a health care company that was established in the United States in 2016, which focuses on introducing the world's top medical resources to the Chinese market through utilising artificial intelligence to streamlining treatment recovery and disease prevention. The group is headquartered in Shanghai and has branches in China, the United States, Japan and Singapore, providing tens of thousands of high-end customers with customised and personalised medical solutions.
Vincent commented on the transaction: "QTC Care is a pioneer in the growing technology health sector in China. We are pleased to be involved in this significant transaction demonstrating our expertise and increasing our profile in the private equity and technology space in Asia."