Orrick has advised JD.com, Inc. (NASDAQ: JD), the largest retailer and e-commerce company in China by revenue, on the financing for its healthcare subsidiary, JD Health, with investors including CPEChina Fund, CICC Capital, and Baring Private Equity Asia, among others. China Renaissance acted as financial advisor of the transaction.
The total amount raised in this round is expected to be over US$1 billion, which will enable JD Health to further expand its core business, attract industry talent and explore new initiatives in the broader healthcare sector.
JD Health will continue to consolidate and expand its leading healthcare and medical e-commerce and e-health businesses with its core strengths in the medical and pharmaceutical fields. It will also further develop and strengthen its “Internet + Healthcare” business model through its smart healthcare solutions driven by data and technology, thus becoming the most trustworthy healthcare flagship.
JD.com will remain the majority shareholder of JD Health after the completion of this transaction. JD Health has become the third unicorn established by JD.com after JD Digits and JD Logistics.
The Orrick team advising on the transaction is led by Shanghai-based corporate partner Jeffrey Sun.