China: JD Health buys stake in insurtech firm

The healthcare unit of has taken a 7.7% stake in the company for Rmb150m (US$22.2m) alongside WuXi AppTec, according to a filing from Kingstar’s parent company Winning Health.

Founded in 2012, the insurtech company, which boasts Ant Financial as a strategic investor, monitors the country’s public medical insurance funds for fraud.

Its clients include the National Healthcare Security Administration, Alibaba,, Shanxi Provincial People’s Hospital and China Life.