SoftBank Vision Fund’s investment in two technology companies in the Ping An group


Slaughter and May advised SB Investment Advisers (UK) Limited (SBIA), an investment adviser to SoftBank Vision Fund, on SoftBank Vision Fund’s investment in two technology companies in the Ping An group – Ping An Healthcare and Technology Company Limited (Ping An Good Doctor) and Ping An Medical and Healthcare Management Co., Ltd. (Ping An Healthcare Technology).

As announced by Ping An on 2 February, SoftBank Vision Fund has made a US$400 million pre-IPO investment in Ping An Good Doctor, and was a major investor in the US$1.15 billion A round financing of Ping An Healthcare Technology.

Ping An Good Doctor is the world’s leading healthcare portal in terms of traffic, with over 190 million registered users and more than 30 million monthly active users. Ping An Good Doctor is expected to be listed on the Hong Kong Stock Exchange in 2018.

Ping An Healthcare Technology’s business covers 800 million people across 70% of the cities in China. It provides comprehensive healthcare and business insurance management services such as expense control service, actuarial service, healthcare insurance account service, medical resources management and health profile application to over 250 cities.

Ping An Good Doctor is the world’s largest healthcare portal in terms of traffic. Ping An Healthcare Technology is the largest technology-driven managed care platform in China. OneConnect is the only one-stop FinTech-empowered solutions provider in China.

Slaughter and May supported SBIA’s internal legal team, Raleigh Morgan and Asuka Kondo.

The Slaughter and May’s team was led in Hong Kong by Corporate partner Chris McGaffin (partner) and Clara Choi (partner, in picture), assisted by Frank Bi (associate), Jacky Sin (associate), Pariya Rojtanongchai (associate), Jason Fu (trainee) and Sam Cheung (paralegal); on Antitrust law acted Natalie Yeung (partner); and on IP/AI/Tech matters acted a London team led by Rob Sumroy (partner) alongside Daniel Owen (associate); Jun He provided PRC law input.

Involved fees earner: Chris McGaffin – Slaughter and May; Clara Choi – Slaughter and May; Frank Bi – Slaughter and May; Jacky Sin – Slaughter and May; Pariya Rojtanongchai – Slaughter and May; Jason Fu – Slaughter and May; Rob Sumroy – Slaughter and May; Daniel Owen – Slaughter and May; Natalie Yeung – Slaughter and May;

Law Firms: Slaughter and May;

Clients: SoftBank Vision Fund;

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Author: Michael Patrini