Spring Rain Mobile Healthcare App Raises $183 Million, Plans China IPO
Published: Jun 24, 2016
Spring Rain Software, a Beijing mobile healthcare app company, raised $183 million from China International Capital Corporation in a pre-IPO round. A major player in the crowded online healthcare sector, Spring Rain is known as Chunyu Yishing in Chinese. According to Tencent Technology, the company has not fully committed to an IPO. It may spin off its online consultation division and list it, perhaps through a reverse merger, or it may seek to list on the New Third Board. Rui Zhang, the company's Founder and CEO does not want to go public, Tencent said, but early investors are pushing for an exit.