Huihe Medical Secures Hundreds of Millions in Series B Funding to Advance Original Solutions for Structural Heart Disease

VCBeat (WeChat ID: vcbeat) Recently, Shanghai Huihe Healthcare Technology Co., Ltd. (hereinafter referred to as "HuiHe Healthcare"), a globally leading structural heart disease platform company, has completed a Series B financing round totaling hundreds of millions of RMB. The round was led by IDG Capital, with existing shareholders including Guofang Capital and Legend Star continuing to increase their investments, and was followed by co-investments from the Shanghai Sci-Tech Innovation Fund, Nuoyu Capital, and Xiangtang Capital. This fully demonstrates institutional investors' strong recognition of HuiHe Healthcare's original R&D and innovation capabilities in the structural heart disease sector, as well as their firm confidence in the company's development. Evermore Capital served as the exclusive financial advisor to HuiHe Healthcare in this transaction.

Founded in 2019, HuiHe Healthcare was established by Dr. Lin Lin, a cardiologist by training who has dedicated years to the field of structural heart disease. Drawing on her clinical experience with over a thousand heart valve procedures, she identified key technological trajectories for valve devices and unmet clinical needs. She introduced the innovative "single-sheath dual-valve" concept and technology to physicians, utilizing a transvascular approach to replicate the outcomes of open-heart surgery. This addresses the minimally invasive surgical needs of patients with combined mitral and tricuspid valve disease, ultimately helping them regain a new lease on life.

HuiHe Healthcare has multiple products in the field of structural heart disease, with over 100 patents granted in total, including 2 PCT (Patent Cooperation Treaty) patents and 1 US patent.Among them, HuiHe's independently developed K-Clip^TMThe tricuspid valve repair system is a novel transvascular treatment approach for tricuspid regurgitation. K-Clip^TMWith its sophisticated structural design, it successfully replicates the classic surgical procedure for tricuspid regurgitation via an interventional approach, an innovation grounded in evidence-based medicine and a profound understanding of clinical practice.

In early 2021, K-Clip^TMRegistration clinical trials have been initiated, and the world's first live surgical broadcast was successfully conducted at the 2021 Oriental Congress, achieving continuous breakthroughs in clinical progress. It is reported that K-Clip^TMThe first clinical trial has completed full patient enrollment, with all enrolled patients experiencing significant relief of postoperative symptoms and a marked improvement in quality of life.K-Clip^TMWith its established surgical principles, short learning curve, and an average procedure time of under 30 minutes per case, it has propelled China's indigenous innovations into the pinnacle of world-class structural heart disease devices.

Additionally, in HuiHe Healthcare's "single-sheath dual-valve" solution,It also provides a range of mitral valve repair products, including transcatheter leaflet and annulus repair devices that enable simultaneous repair of the mitral valve leaflet and annulus. We continue to tackle world-class challenges, steadfastly advancing Chinese original innovation.

Following the completion of this financing round, HuiHe Healthcare will continue to advance clinical trials across multiple product lines, establish laboratories, and expand manufacturing facilities. The company will sustain its investment in the R&D of interventional products for structural heart disease to enrich and continuously iterate its product portfolio. Meanwhile, HuiHe Healthcare has targeted the international market, actively building a global patent portfolio and advancing overseas regulatory registration and clinical trial programs.

Ms. Lin Lin, Founder and CEO of HuiHe Healthcare, stated: “As a startup, HuiHe Healthcare remains steadfast in its founding mission to create ‘good products.’ We are dedicated to providing patients with more minimally invasive and safer surgical instruments, and to offering physicians simpler and more controllable surgical solutions. We are committed to original innovation and continuously strive for global excellence. We aim to make Chinese-made products the best, and to bring Chinese innovations to the world! Over the past two years of our entrepreneurial journey, we are profoundly grateful for the unwavering support from physicians across the industry. Countless times, you have stood by us as we broke through barriers at the very edge of what was deemed ‘impossible’ or ‘unachievable.’ Every incremental progress we have made is infused with your dedication and painstaking efforts! The road ahead may be long and arduous, but perseverance will surely lead us to our destination. We will stay true to our original aspiration and continue to deliver innovative, high-quality ‘good products’!”

Regarding this funding round, lead investor IDG Capital stated: “As the integration of medicine and engineering continues to deepen in China, a growing number of medical device companies with a globally leading vision and innovative capabilities are emerging. HuiHe Healthcare is one such innovative enterprise that has deeply focused on the structural heart disease field and has already achieved notable pioneering milestones. The company maintains a comprehensive product portfolio in cardiovascular intervention, remains steadfast in its innovation-driven strategy, and has made remarkable progress in its proprietary tricuspid and mitral valve interventions. IDG is firmly optimistic about the cardiovascular sector and will continue to support the rapid development of HuiHe Healthcare. We expect HuiHe Healthcare to achieve continuous breakthroughs in the cardiovascular field under the leadership of the founding team, including Lin Lin, and we believe it will grow into a world-class and exceptional company.”

Mr. Sun Min, Managing Partner at Guofang Capital (lead investor of the Series A+ round) and Director at HuiHe Healthcare, stated: “Since the Series A round, Guofang Capital has made follow-on investments in HuiHe Healthcare for three consecutive rounds. We regard HuiHe as a like-minded partner walking alongside us, and more importantly, a pioneer in independent R&D within the cutting-edge medical device sector. Over the past two years, we have witnessed the HuiHe team, driven by robust in-house R&D capabilities and a relentless spirit of disruptive innovation, independently develop an increasingly diverse portfolio of outstanding products. This has enabled its remarkable transformation from a single tricuspid valve repair product into a ‘one-sheath, two-valves’ platform enterprise. As investors, we are deeply gratified and full of confidence in the future. Guofang Capital will continue to support HuiHe Healthcare as always, and we look forward to seeing the company continue to demonstrate its competitive edge and make the voice of Chinese original innovation heard on the global stage!”

Li Gang, Partner and Co-head of Healthcare at Yikai Capital, stated: “Structural heart disease is a crown jewel in the cardiovascular sector. HuiHe Healthcare possesses a strong innovative DNA, with its product portfolio continuously expanding and refining. The fact that this transaction has garnered the favor of top-tier investors fully demonstrates that companies with robust independent R&D capabilities represent the hope for the rapid development of China's high-value medical consumables industry. We are deeply honored to have assisted the company in completing this round of financing, and we look forward to continuing our partnership to witness the company scaling new heights.”

Founded in 2019, HuiHe Healthcare is a high-tech enterprise with independent innovation capabilities, specializing in the research, development, and manufacturing of cardiovascular implantable devices. The company holds over 100 patents in total, including two PCT (Patent Cooperation Treaty) patents and one US patent. Its first product, a transcatheter valvuloplasty system, has officially entered the registration clinical trial phase. Patient enrollment for its inaugural exploratory clinical trial has been completed, with both trials achieving successful outcomes.

IDG Capital is a globally leading private equity investment firm. Over nearly three decades of development, its cumulative assets under management have exceeded RMB 150 billion. IDG Capital focuses on leading enterprises in sectors such as the Internet, new consumption and services, culture and entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages, including early-stage, growth-stage, and mature-stage ventures, as well as mergers, acquisitions, and restructuring. Investment amounts range from several million to hundreds of millions of US dollars.

Yuanhe Origin, a member enterprise of Suzhou Yuanhe Holding Co., Ltd., is a market-oriented, specialized early-stage equity investment platform. It primarily focuses on investment opportunities in startup and growth-stage enterprises within the Healthcare and TMT sectors. The platform manages ten funds with a total scale of approximately RMB 4 billion, encompassing both VC funds and region-specific angel funds.

BioTrack Capital, established in 2017, is a specialized investment firm dedicated to China's healthcare sector. It invests in innovative biotechnology, advanced medical technologies, and novel healthcare business models in China, possessing strong capabilities in deal sourcing and value-added empowerment.

Guofang Capital is a venture capital firm specializing in hard technology, dedicated to realizing the value of technology. Founded in 2017, the firm manages assets exceeding RMB 10 billion. Upholding the spirit of "advancing with technology, progressing with the times," Guofang Capital focuses on three core sectors: biomedicine, artificial intelligence, and the Internet of Things (IoT), empowering the growth of innovative enterprises.

Founded in 2008, Legend Star currently manages seven early-stage investment funds totaling nearly RMB 3.5 billion and has invested in over 300 projects. As the early-stage investment and incubation division of Legend Holdings, Legend Star provides entrepreneurs with distinctive services featuring "early-stage investment + in-depth incubation," serving as a "Super Angel" by their side.

Established in 2017, the Shanghai Science and Technology Innovation Fund manages a Phase I scale of RMB 6.52 billion, with a primary focus on strategic emerging industries such as information technology, biomedicine, advanced manufacturing, and eco-friendly new energy. The Fund is dedicated to nurturing startups that align with national strategies, demonstrate technological leadership and originality, and possess unicorn potential under the dual-circulation framework.

Nuoyu Capital is a specialized investment institution focused on medical devices and digital healthcare. Committed to understanding the healthcare industry through a medical lens, we deeply cultivate the fertile ground of medical innovation, identifying and partnering with entrepreneurs who truly grasp the essence of medicine. Guided by a collaborative philosophy of trust, inclusivity, support, and steadfast companionship, we work alongside founders to co-create the future.

Xiangtang Capital is a professional investment institution under Xiangtang Group, with investment areas encompassing biopharmaceuticals, medical devices, medical diagnostics, and related fields. Over the years, Xiangtang Group has focused on investments in biomedicine and medical technology, strategically targeting various unmet clinical needs. The scale of its invested assets has exceeded several billion RMB.

Focusing globally on the TMT, consumer, and healthcare sectors, YiKai Capital maintains branch offices in Beijing, Shanghai, Los Angeles, and San Francisco, and holds a U.S. securities market license. The healthcare sector is a key focus for YiKai Capital, which has ranked as China's new-economy investment bank with the highest number of healthcare industry transaction records for four consecutive years.