40 under 40-2021 Carl Wu
Courtesy of Carl Wu
  • Age
  • Title
    Cofounder and CEO
  • Company
    New Frontier Group

A Blackstone managing director turned entrepreneur, Carl Wu has staked his ambitions on the future of China’s fledgling private health care industry. As CEO and founder of New Frontier Group, based in Hong Kong and Shanghai, and president of New Frontier Health, an NYSE-traded company, he led the $1.44 billion acquisition of United Family, China’s largest private hospital group, through a SPAC in 2019. New Frontier’s growing portfolio of hospitals are located in China’s largest cities and are known for their premium service. In all, the company, which also runs rehabilitation centers, home health and telemedicine services, and a health insurance brokerage, reaches several million people a year. Wu is betting that China’s growing affluence and aging population will fuel demand for high-quality health care for decades to come.

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