"In the past the Chinese mainly focused on disease treatment. Now more people have realized the importance of health examinations to detect potential risks early on - and that helps the transition to a human-centered consecutive and modernized medical system," said Wu Liuxin, deputy of the Healthcare Institution under the Chinese Medical Association.

China's current Five-Year Plan (2011-2015) singles out the private healthcare sector for increased foreign investment and help from the government.

However, analysts point out it depends on specific company financial performances and business strategies to evaluate growth potential, noting the fierce competition in the health examination industry may lead to further integration.

Ciming Health Checkup Management Group Co Ltd, iKang's rival, announced it was postponing its IPO plan to list on China's A-share market in January. The company said in a recent filing that net profit in 2013 will rise or decline within a band of 10 percent from that in 2012, while the first quarter in 2014 is expected to see a loss, which is a big contrast to its performance before 2012.

Frustrated by the intricate IPO process of China's A-share market listing and lured by the thriving US stock market, many Chinese companies are again looking to list on the latter, after accounting scandals weighed heavily on the valuations of many Chinese companies a few years ago.

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