This move by the UK/Hong Kong-listed bank is another example of financial firms joining hands with healthcare organisations.

HSBC has made what it calls a “strategic investment” in Shanghai MediTrust Health Technology, aka “MediTrust,” a Chinese online healthcare solutions provider. 

The move is designed to help the bank boost its affluent and high net worth customer base, and another example of financial firms joining hands with healthcare organisations. China-based Hywin, for example, made such a move last year (see this interview). 

MediTrust’s network includes international and mainland China local pharmaceutical companies, pharmacies, hospitals and wellness service providers, and provides health and medical services to more than 200 million insurance policyholders in more than 100 cities. 

“Our investment in MediTrust underscores our strategic focus on growing our health, protection and wealth capabilities in mainland China and, importantly, across the Greater Bay Area,” Nuno Matos (pictured), chief executive, wealth and personal banking, HSBC, said. 

“The investment into MediTrust is part of HSBC’s strategic investment agenda in companies that will support the delivery of the group’s growth strategy, particularly in Asia’s burgeoning wealth and health space,” UK/Hong Kong-listed HSBC said. 

Besides the investment, HSBC and MediTrust will collaborate on initiatives to expand their respective businesses and deliver a broad range of health, wellbeing, and protection solutions for customers in the world’s second largest healthcare market. 

Seth Zhang, founder and CEO of MediTrust said: "This partnership enables us to leverage HSBC’s global network and capabilities to jointly develop industry-leading medical and healthcare solutions.”