China: ICP takes stake in New Frontier Vitality

Hwachie Lee

Inspiration Capital Partners (ICP) has become a strategic capital partner and investor of New Frontier Vitality (NFV), the integrated post-acute and geriatric healthcare platform in China created by New Frontier.

Financial terms have not been disclosed.

NFV offers both facility-based and home-based care through its platforms including Care Alliance, Mango, Hekang, YD Care and Youhujia. Facility-based care includes long-term acute care hospitals, inpatient rehab facilities, skilled nursing facilities and paediatric rehab facilities.

The company operates over 3,500 beds across a portfolio of nine hospitals and several clinics. Home-based care includes home-care, post-partum care and private nursing care, with the company currently providing almost 5 million visits on an annualised basis to geriatric patients across China through its 48 community health centres across the country.

“China’s post-acute and senior care infrastructure is severely underdeveloped,” said Hwachie Lee, managing partner of ICP.

“The fast greying population coupled with pressure in the public healthcare system create opportunities for specialised operators from the private sector. New Frontier Vitality is one of the first movers in this industry and has established a market-leading brand and developed strong capabilities in this area,” he added.

New Frontier Group is a Hong Kong-based special purpose acquisition company (SPAC). It specialises in investing, building, and operating diversified businesses in the healthcare sector. New Frontier was founded by Antony Leung, former financial secretary of Hong Kong and Carl Wu, former managing director of Blackstone.