WeDoctor Set to Float IPO in H2 2021, Eyes US or HK Listing

Bullet points:
• WeDoctor, a Chinese online healthcare services provider, plans to float its Initial Public Offering (IPO) by H2 2023.
• WeDoctor is considering either a Hong Kong or US listing for its IPO.
• The firm is backed by Tencent and connects more than 3000 hospitals, 300,000 doctors, and 200 million patients together.

WeDoctor, a Chinese online healthcare services provider, is set to float its Initial Public Offering (IPO) by the second half (H2) of this year. The news of the WeDoctor IPO plans were reported by Bloomberg, citing people familiar with the matter. According to the sources, the firm is considering either a Hong Kong or US listing and that the plans from the firm could change over time, noting that talks are still in the preliminary stages.

WeDoctor is transforming access to medicine in an innovative digital manner. Founded in 2010 in Hangzhou China, the company connects more than 3000 hospitals, 300,000 doctors, and 200 million patients together. It offers a range of services that include medical consultation, medication delivery, medical record access, and hospital appointment booking. The company has also recently launched a mobile app that enables people to conveniently access medical services.

The Chinese government appears to have eased down on its crackdown on top tech companies, which could be a perfect window for WeDoctor to launch its IPO. The firm is backed by Tencent and has previously attempted to launch an IPO in 2021, but was crushed by the aforementioned crackdown.

WeDoctor is now looking to take advantage of the more relaxed stance from the Chinese government and launch its IPO in either Hong Kong or the US. The company is expected to float its IPO by the second half of this year, with talks being in the preliminary stages. This IPO is set to be the second in its history and could be a crucial moment for the firm as it looks to expand its reach and solidify its position in the telemedicine sector.