HSBC has invested in online healthcare solutions provider Shanghai MediTrust Health Technology (MediTrust), whose network includes international and mainland China local pharmaceutical companies, pharmacies, hospitals and wellness service providers, and provides health and medical services to over 200 million insurance policyholders in more than 100 cities.
The investment is part of HSBC’s strategic investment agenda in companies that will support the delivery of its growth strategy, particularly in Asia’s burgeoning wealth and health space.
In addition to the investment, HSBC and MediTrust will collaborate on a number of initiatives to expand their respective businesses and deliver a broad range of health, wellbeing and protection solutions for customers in the world’s second-largest healthcare market.
The partnership, the bank points out, will help expand its mass affluent and high-net-worth customer base, help customers to identify credible health-related information and connect them to quality medical and health services across the country and internationally via MediTrust’s network. At the same time, the partnership will help MediTrust to innovate and extend its existing reach.
“Our customers want easy and efficient access to quality healthcare,” says Nuno Matos, the bank’s chief executive for wealth and personal banking. “They want to be financially prepared for rising healthcare costs, while adopting more active and healthy lifestyles. This partnership allows us to access MediTrust’s comprehensive network of pharmaceutical companies, expertise in supporting customers looking for coverage for a wide range of diseases, and innovative product and claims systems.”
Seth Zhang, founder and CEO of MediTrust, adds: “This partnership enables us to leverage HSBC’s global network and capabilities to jointly develop industry-leading medical and healthcare solutions.”