(Yicai Global) Aug. 30 -- Arrail Dental International Group Co., a high-end Chinese dental institution, has raised USD90 million in D-round funding from several firms led by The Goldman Sachs Group [NYSE:GS].
The dental group held a funding conference on Aug. 29. "Dental care has a relatively low penetration rate in China," China.com quoted Zou Qifang, founder, as saying. "As people become more concerned for their health, they will be willing to pay more for dental services. The Chinese dental market could be worth trillions of yuan in the future."
"We hope the cooperation with Arrail Group can provide advantages in capital and industry strength, to assist the group in becoming a leader of China's dental healthcare industry," said Liu Wanlin, managing director of Goldman Sachs Asia LLC.
In 1999, Zou founded Arrail's first high-end institution, Arrial Dental, which is committed to providing world-class dental treatments to China's middle class and foreigners in the country. It has nearly 100 clinics nationwide and has treated over five million patients.
With the D-round funding, the group is planning to extend to more than 1,000 clinics in China over the next five to eight years and further promote high-end treatments.