China’s largest psychiatric hospital to IPO
Business & Technology
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Kangning Hospital, China’s largest psychiatric hospital, is going public on the Shenzhen Stock Exchange, per 36Kr (in Chinese).
- Kangning Hospital was founded in 1997 by a Wenzhou couple who were frustrated at the lack of access to mental health in China.
- The hospital began with only four employees, and has now grown to become the largest psychiatric hospital in China, with more than 30 branches and revenues of more than one billion yuan ($154 million) a year.
Also relevant: In September, ByteDance led a 200 million yuan funding round for Haoxingqing Clinic (literally “good mood clinic”) in the largest financing for a mental health startup yet.
The takeaway: Mental health, long neglected in China, is gaining traction as Chinese begin to feel the mounting pressures of education, housing, and jobs.
