(AF) Chinese medical data group LinkDoc has cancelled an initial public offering in the United States after Beijing ramped up its tech crackdown last week against Didi Global and other companies that listed abroad recently. LinkDoc Technology Ltd has suddenly shelved an IPO that was set to raise up to $211 million in the US, according to sources who spoke to Reuters and Nikkei. The company, which is reportedly backed by Alibaba, filed for an IPO last month and was due to set a price for its shares later today (Thursday July 8).Ĭhinese regulators are concerned about the security of large volumes of personal data accumulated by internet-based platforms that list in the US. Shares in Chinese ride-hailing giant Didi slumped by more than 11 in New York on Thursday.
Analysts says they also suspect that Beijing is pressing domestic companies to list in Hong Kong instead of overseas. LinkDoc describes itself as a “leading” big data company from China focused on oncology, the treatment of cancer and tumors.īased in Beijing, LDoc, as it is known, has systems that use artificial intelligence to assist in patient management, and other services. “Through clinical data fusion system, the company helps hospitals and departments to establish a structured electronic medical record database,” it says. “We have developed proprietary machine learning and human language processing enabled mechanism to structure millions of clinical EMR into research grade data,” the group says in its page on LinkedIn.
We are developing LinkDoc solutions from these precious real world big data to empower clinical doctors, healthcare industry and patients with better oncology care.” “We have collaborated with 600 departments from 300 top oncology centres in China. stock market to tap deep-pocketed investors, raising. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal.
Sources didi chinabased linkdoc ipotimes series#
The markets website Seeking Alpha said six days ago: “LDOC is growing quickly, has potentially large expansion capabilities into other health areas and the IPO appears reasonably valued, so is worth consideration. Didi chinabased ximalaya linkdoc us ipotimes series Morgan Stanley and Bank of America declined to comment, while CICC did not respond to a Reuters request for comment.
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