China healthtech funding crashed 49% to $1.92b in H1

The number of deals fell to 62 transactions in the same period.

Despite being the country that received the most healthtech funding in Asia in H1, China’s healthtech investments value plunged 49% YoY to$1.92b from $3.75b in H1 2018, according to a report from Galen Growth Asia.

YTD, the number of deals in China fell 41% YoY to 62 transactions in H1. On the other hand, its average deal value climbed 23% YoY to US$31m from $25.3m in H1 2018 and the cumulative deal value since 2016 has reached US$14.1b.

Deal count fell 55% to 26, which marks the weakest quarter ever recorded in China. Funding activity during the same quarter recorded a total of US$925m, down 45% YoY. However, average deal value went up by 20% YoY to US$35.6m.

Of the Q2 investment count figure, 81% comprised growth stage deals whilst early stage deals made up of 12%. Late stage deals only accounted for 4% of the total.

Amongst healthtech categories, health management solutions received the most investments at US$519m during H1. This is followed by online marketplace at US$430m, medical diagnostics at US$309m, wellness at US$216m, payments and administration at US$175m and patent solutions at US$126m.

Tencent Doctorwork has the most notable deal in H1 after raising $250m in a series B funding round.