Ropes & Gray Advises Baring Private Equity Asia in its Investment in JD Health
Ropes & Gray advised Baring Private Equity Asia in its investment in JD Health as part of its Series A preferred share financing. Additional investors include CPE China Fund and CICC Capital. JD Health raised over US$1 billion from this round of financing. The transaction was signed on May 9.
JD Health is a subsidiary of JD.com, a China-based e-commerce group, and one of the two leading B2C online retailers in China by transaction and volume. The company is an online healthcare platform which connects local public medical insurance systems with online pharmacies. JD.com will remain the majority shareholder of JD Health upon completion of the transaction.
The Ropes & Gray team was led by private equity partner Peng Yu and included life sciences partner Katherine Wang and litigation & enforcement partner Andrew Dale.