Image: Saint Bella Group

Saint Bella Group, China’s leading premium postpartum care provider, has filed for a Hong Kong IPO, marking a significant milestone for women’s health in Asia. Founded in 2017 by Oxford-trained engineer Danny Xiang, the company has modernized traditional Chinese postpartum confinement practices by combining evidence-based care with luxury hospitality.

Saint Bella operates 72 postpartum centers, many housed in five-star hotels, serving affluent families who spend ¥150,000–¥350,000 ($20,700–$48,300) monthly for elite services. The company’s revenue more than doubled from ¥259 million ($35.8 million) in 2021 to ¥560 million ($77.4 million) in 2023, with first-half 2024 revenue growing 32% to ¥358 million ($49.5 million), according to the company.

The company has attracted major investors including Tencent Holdings, Gaorong Ventures, and Sun Hung Kai Capital Partners. Saint Bella has expanded to locations across 25 cities, with international centers in Singapore and Los Angeles targeting Chinese diaspora markets.

However, the industry faces headwinds from China’s declining birth rates, which dropped from 15.2 million in 2018 to 9 million in 2023, and economic slowdown affecting discretionary spending. Saint Bella’s capital-light model, partnering with luxury hotels rather than building facilities, provides scalability advantages.

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