Kindstar Globalgene Closes Series E Financing,
Accelerates Comprehensive Development of High-quality Special Inspection Services in China
December 15, 2020 — Kindstar Globalgene Technology, Inc. today announced the completion of a hundred million US dollars Series E Financing led by CPE with participation from Investcorp, BOCI, VMSGroup and ABC International. Since its founding on 2003, Kindstar Globalgene has successively obtained capital support from world-renowned funds such as Kleiner Perkins Caufield & Byers, Morningside and WI Harper Group.
“It is a great honour that this financing has received the support from well-known top investors in the medical industry. This is an important milestone for Kindstar Globalgene which will bring us a continued growth momentum.” Founder and Chief Executive Officer of Kindstar Globalgene, Professor Shiang Huang indicated, “With this infusion of capital, we will continue our self-innovation and the introducing of the most advanced international medical esoteric testing technologies to lead China’s esoteric testing technology and services, better meet the needs of doctors and patients, and devote to become a cutting-edge medical esoteric testing company in China as booster for clinical medical research services.”
Project Manager of CPE, Mr. Peng Wei said, “We are very optimistic about the development of China’s medical testing market. The popularization and application of emerging testing technologies and the advantage of economies of scale of independent laboratories will constantly lead the market growth. Kindstar Globalgene is a leading enterprise in China’s medical esoteric testing industry. With its deep expertise and comprehensive network of medical institutions and corporate customers, it has established a reputable image in clinical practice. Set up a heart for the world and life for the people. We are very pleased to work with management team of Kindstar Globalgene led by Professor Huang to promote our business, meet the urgent market demands and benefit more patients worldwide.”
Global Co-Chief Executive Officer of Investcorp, Mr Hazem Ben-Gacem commented, “Kindstar Globalgene has strong capabilities in the field of major disease-related testing. The Company’s medical esoteric testing services continue to be enriched and the technology keeps advancing. We believe that, with the continuous growth of demand in the precision medicine market, the Company will usher in exciting development opportunities. We have confidence in the Company’s becoming world’s top high-end medical specialist esoteric testing enterprise.”
About Kindstar Globalgene Technology, Inc.
Kindstar Globalgene, founded since 2003, is a large-scale high-end medical specialist esoteric testing service group in China and owns advanced and nationally accredited clinical testing, scientific research and development laboratories with over 37 thousand m2 in Wuhan, Beijing, Shanghai, Tianjin, Chengdu and Urumqi. Kindstar Globalgene has a service network covered 600 cities in 31 provinces and municipalities in China, and it provides tests in hematology, oncology and infectious diseases to medical specialties in more than 3000 hospitals, among which more than 1000 are top hospitals in China. It also provides medical research, clinical trial services to world’s famous medical science and technology institutions and pharmaceutical companies.
CPE was established in June 2008 which is a market-oriented and independent asset management institution focusing on exploring Chinese and international investment opportunities related to China’s national economic growth. The Company adheres to long-term investment strategy and the core principle of “creating value with professionalism”, focusing on key investment areas such as technology and industry, consumer and internet, software and corporate services, medical and health and real estate. The Company is committed to establishing long-term partnerships with investee companies to promote their sustainable development and the overall development of the industry and society in which the investee companies are located. Currently, the Company has invested more that 100 companies and has become one of China’s leading asset management institutions with a scale of assets under management of more than 100 billion RMB.
Investcorp, founded in 1982 and is headquartered in Bahrain. It is a global alternative investment institution focusing on the exploration and investment of strong capital in the Middle East and global high-growth opportunities. At present, the Company’s asset management scale exceeds USD32 billion and it has 8 offices worldwide, including New York, London and Singapore, with more than 450 professionals invest in corporate private equity, real estate, leverage, hedging, GP shares, infrastructure and multiple areas. Investcorp’s shareholders are mainly composed of large financial institutions in the Middle East and oil-based sovereign funds, such as Mubadala.
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