
Tencent steps up expansion in healthcare with new US$41.5 million investment in Xunjie Medical as Beijing eases restrictions
- The internet giant’s latest healthcare investment would give it a 19.5 per cent stake in Xunjie Medical, which owns German first aid gear maker Metrax
- That capital outlay comes months after Beijing pledged to approve more technology deals to help prop up China’s slowing economy
Once completed, that investment would give Tencent a 19.5 per cent stake in Jiangsu Xunjie Medical Technology Co, according to a filing by Yuyue Medical on the Shenzhen Stock Exchange late on Monday. Xunjie Medical controls German firm Metrax, a maker of defibrillators and other first aid medical equipment under the Primedic brand.
The investment will be used in research and development, as well as for daily operations of Yuyue Medical, according to the filing.
Tencent on Tuesday declined to comment. Its shares were up 1.52 per cent to HK$293.40 at the close of trading in Hong Kong.

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This year, Tencent has already managed to make a number of investments in the healthcare sector. Some of its recent deals included a Beijing-based drug discovery firm Singlomics and nursing home company Fortune Care in Shanghai, according to data from online business registry service Tianyancha.
