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Press release
Published April 3, 2023
Abu Dhabi Capital Group is optimistic about the evaluation of China’s digital medical sector and participates in MedSci Health HK IPO
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Al-Balaghi Praveen Ahmed of Abu Dhabi Capital Group said in a recent interview that the focus of Middle Eastern capital has shifted to Asia, especially China, due to the positive outlook for economic growth in Asia after the COVID-19 pandemic.
Ahmed mentioned that the group is optimistic about China’s digital health sector, noting the Chinese government’s recent efforts to encourage the integration of information technology into medical platforms, which has improved Internet medical applications. Ahmed further said that the group has been gradually increasing its investment in China’s digital health sector, including portfolio companies such as JD Health and Ping An Good Doctor, which will perform well financially in 2022.
Ahmed further explained that the group is exploring investment opportunities in Chinese companies planning to list in Hong Kong and the US. After a period of downturn, IPOs in the Hong Kong market tend to be reasonable and there is room for arbitrage.
The group is also reportedly in talks with banks and evaluating the possibility of investing in an IPO of MedSci Healthcare, an internet-based physician services platform that offers digital marketing of pharmaceuticals, online physician research assistance, real-world research services and Paid-for-service medical knowledge.
Ahmed believes that MedSci’s business model and main business are comparable to the big stocks and market leaders Doximity (DOCS.US) and M3 (2413.JP) representing the United States and 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.
Ahmed also noted interest in finding similarities between MedSci and another Hong Kong-listed Chinese company, Medlive (2192.HK). In terms of business and performance, MedSci outperforms Medlive in 2022, but its lower valuation makes its IPO an attractive investment opportunity.
Given the recent influx of Middle Eastern capital into the Chinese market, it is not surprising that Abu Dhabi Capital Group is interested in the Chinese capital market. For example, on March 27, Saudi Aramco made a strategic investment of RMB 24.6 billion in Rongsheng Petrochemical, a Chinese A-share listed company, with a shareholding ratio of 10%. On March 22, JD.com, a subsidiary of JD Group, announced the completion of a US$300 million Series B round of financing, led by Mubadala Investment Company and UAE investment fund 42XFund.
Abu Dhabi Capital Group is one of the most well-known investment groups in the UAE, with assets under management of more than US$20 billion, and cooperates with other investment institutions in the UAE such as Abu Dhabi Investment Authority and Mubadala Investment Company.
Contact information:
Name: Sylvie Young
e-mail: send email
Institution: Abu Dhabi Capital Group
website: https://www.adcg.ae
Release number: 89093319
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COMTEX_428235605/2773/2023-04-03T07:37:45
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