DLA Piper has represented Ping An Good Doctor, a medical service mobile app owned by China’s Ping An Insurance Group, on its $500 million Series A financing.  Haiwen acted as PRC counsel to Good Doctor. 

According to Chinese media, the financing represents the single largest investment in China’s online medical service platforms. Good Doctor's investors on the transaction include private equity firms, Internet companies, as well as PRC state-owned enterprises.

Set up in April last year, Good Doctor has hit a reported valuation of $3 billion, with 77 million registered users and more than 50,000 doctors. The app provides online consultation services, patient management, pharmaceutical online-to-offline services, and digital health profiles, among others. 

The DLA Piper team, which advised on the onshore and offshore financing structure, investor negotiations, transaction process management and other legal issues related to the financing, was led by partner Kit Kwok