Grab and Ping An Good Doctor Set up Joint Venture

Leading ride-hailing platform Grab and Ping An Good Doctor, have announced a joint venture to provide medical and healthcare services in Southeast Asia.

Set to launch in the first quarter of 2019, the new venture will provide a solution that combines Ping An Good Doctor’s medical technology with Grab’s user base and operational experience in Southeast Asia. It will aim to provide healthcare services ranging from online healthcare to health management for the Southeast Asian market.

Both companies will invest $20m in the venture, which is controlled by Ping An Good Doctor with a 70% stake. Depending on the development, the two companies may further invest in the venture cash or assets equivalent to $120m.

Earlier this month, Grab announced a $1 billion funding round from several investors including Ping An Capital, the venture arm of Ping An Insurance, which holds a ~40% stake in Ping An Good Doctor.