DaoYuan Portfolio Company Xiran Medical Completes Nearly RMB 100 Million Series B Financing
Rhino Health
Developer of High-End Ophthalmic Surgical Equipment
Recently, Rhino Health, an excellent domestic ophthalmic high-end medical device manufacturer invested by Daoyuan, has completed a nearly 100-million-yuan Series B financing.According to the introduction, this round of financing will be mainly used for the promotion of Rhino Health's first approved phacoemulsification and vitrectomy integrated machine in China and overseas markets, the registration and launch of a new generation phacoemulsification and vitrectomy integrated machine, etc., to further consolidate the company’s technological advantages in the field of ophthalmic surgical equipment and accelerate the import substitution process of high-end domestically produced ophthalmic equipment.
With the aggravation of population aging, the continuous improvement of residents' eye health awareness, and the national strategy for juvenile myopia prevention and control, China's ophthalmic medical market is entering a period of rapid development. According to Frost & Sullivan, the market size of China's ophthalmic medical services is expected to reach 252.2 billion yuan by 2025. Among this, ophthalmic surgical instruments and equipment, as the core support for ophthalmic diagnosis and treatment, have long been dominated by foreign brands, leaving significant market replacement potential for domestically produced equipment. Frost & Sullivan pointed out that the market size of China’s ophthalmic medical devices (including contact lenses and care solutions) reached 30.5 billion yuan in 2021 and is expected to reach 93.3 billion yuan by 2030.
Against this backdrop, Rhino Health, established in 2021, focuses on the independent research and development of high-end ophthalmic surgical equipment to better meet the demands of ophthalmic diagnosis and treatment services both in China and overseas. With its high-end ophthalmic equipment, core technologies, and supply chain capabilities, Rhino Health has gained favor with investors.
Currently, Rhino Health is providing a full range of ophthalmic medical solutions including "surgical equipment + consumables + training services" guided by clinical needs.
The key products in Rhino Health's core planning include phaco-vitrectomy integrated machines, laser vitrectomy equipment, ophthalmic fiber OCT, fully automatic ophthalmic vitrectomy robots, etc.Among them, the Genesis series of phacoemulsification and vitrectomy integrated machines, as the first domestically produced approved equipment, has broken the market monopoly of overseas enterprises. Cataracts and fundus diseases often occur simultaneously and influence each other, usually requiring combined surgical treatment. Compared with separate phacoemulsification and vitrectomy machines, the integrated machine can complete both anterior and posterior segment treatments in a single surgery, significantly reducing the number of surgeries and trauma, making it suitable for complex cases such as cataracts combined with fundus diseases.
Behind multiple pioneering products lies the robust technical strength of Rhino Health. Rhino Health boasts a founding team with a background that combines medical and engineering expertise. In the process of product development, Rhino Health places particular emphasis on the deep integration of clinical needs and technology.Currently, it has established close cooperative relationships with the ophthalmology departments of multiple Class III Grade A hospitals in China, quickly transforming clinical pain points into technological innovation directions., continuously enhancing the clinical adaptability and competitiveness of the products.As of now, the company has accumulated more than ten technical patents in core technology areas, laying a solid foundation for the continuous iteration of products and market expansion.
At the same time, Rhino Health has also completed the construction of a systematic phacoemulsification and vitrectomy surgical training platform.Rhino Health has completed training for nearly 50 grassroots ophthalmologists in cataract and vitrectomy surgeries, shortening the learning curve for ophthalmologists and further enhancing the capacity of grassroots ophthalmic medical services. Rhino Health is forming a complete chain from "technology development - product implementation - doctor training - market promotion" to further assist in solving clinical problems and benefiting a wider range of patients.
Rhino Health founder Zhang Chi stated:
"Thanks to the trust and support from Yuexiu Industrial Fund and our existing shareholder Taiyu Investment, Rhino Health has adhered to the mission of precision ophthalmology and safeguarding vision since its establishment. We have been deeply committed to the research and development of high-end ophthalmic surgical equipment and consumables, guided by clinical pain points and driven by collaboration between medical and engineering teams. Our goal is to create world-class ophthalmic diagnosis and treatment solutions. The proceeds from this financing will be mainly allocated to the promotion in both Chinese and overseas markets, the registration and launch of the next-generation phacoemulsification and vitrectomy integrated machine, and clinical trials for new products. This will further strengthen the competitiveness of ophthalmic devices produced in China. We will live up to the trust placed in us, forge ahead, accelerate product commercialization and global layout, and serve patients with safer, more precise, and more accessible medical technology. We are dedicated to making greater contributions to the high-quality development of China's ophthalmic healthcare industry and the eye health of our people."
About Daoyuan Capital
DaoYuan Capital is a leading private equity investment institution focused on the healthcare sector, dedicated to helping outstanding healthcare companies grow rapidly by leveraging capital and industry resources, providing better medical products and services to society, and enhancing human health.
Currently, Daoyuan Capital manages 20 RMB funds and 4 USD funds, with investments in 95 outstanding projects, including 16 IPO projects (one of which has obtained the CSRC registration approval). These include Prayes Ophthalmology (301239), Jinxin Fertility (HK.1951), Sinomed (688108), Innovax (688253), Tinavi Medical Technologies (688277), Viva Biotech (HK.1873), Anbiping (688393), and Angenesis (688581), among others. In the next three years, more than 10 invested companies are expected to enter the IPO process.
