HONG KONG--(BUSINESS WIRE)--Hong Kong-based financial management company Oak Stone Limited, has commented on Tencent Holdings backed venture WeDoctor. The company is now one of China’s most prominent online healthcare startups, which is committed to using technology to empower medical care.
WeDoctor suggested plans saying that they will be hiring a new CFO (Chief Financial Officer) to navigate their Hong Kong initial public offering, noted analysts from Oak Stone Limited.
Researchers from Oak Stone Limited commented saying that WeDoctor will be fighting against other tech giants that are also looking to take up the market share of the healthcare industry. The company already has a host of applications from online insurance policies to medical supplies and online appointment bookings.
“WeDoctor’s IPO could be as early as late this year or the start of 2021, WeDoctor is aiming to acquire a $10 billion U.S Dollar valuation once the initial public offering comes to fruition, just under double its previous revision for $5.5 billion dollar valuation,” commented Michael Pearson, Head of Corporate Equities at Oak Stone Limited.
Amid growing tensions in Asia over the Covid-19 epidemic, the country’s medical care system is in great need to offset its reliance on big hospitals within major cities. The WeDoctor startup launched an online initiative platform that was dedicated to assisting coronavirus cases as of late January, since then the company has already helped over 1.4 million consultations with doctors.
"Startups such as WeDoctor can have a significant impact on nationwide efforts to send its healthcare sector into the modern age. Analysts from Oak Stone Limited have estimated that the healthcare industry in mainland china alone will be worth around 16 trillion yuan ($2.3 trillion U.S Dollars),” commented James Burnley, Head of Wealth Management at Oak Stone Limited.
Founded in 2010, WeDoctor has already made a notable impact in attracting millions of online users, and the company still faces stiff competition from big corporations such as Alibaba Group Holding Ltd in the online healthcare industry.
About Oak Stone Limited
Oak Stone Limited was established in late 2014 within the financial heart of Hong Kong. The company has since grown into a leading wealth management company in the Asia-pacific region, serving both individual clients and institutions.