Wushuang Medical Completes Hundreds of Millions RMB Series B Financing to Build a Full-Portfolio CRM Medical Device Platform

VCBeat Learns Firsthand, Suzhou Singular Medical Equipment Co., Ltd.(hereinafter referred to as“Singular Medical”）RecentlyCompleted hundreds of millions of yuanB-round financing. This round of financing was led bySDIC Chuanghe and Qiming Venture Partners Jointly Lead the Investment，Existing shareholders, including Northern Light Venture Capital, Suzhou New District Venture Capital, and MARATHON VENTURE PARTNERS, continued their investment, with Dianshi Capital serving as the exclusive financial advisor.The funds from this round will be used to expand the R&D team, advance clinical trials, and broaden the product pipeline.

Singular Medical, established in 2017, is a high-tech medical device company specializing in the research, development, and industrialization of Class III active medical products in the field of Cardiac Rhythm Management (CRM). Headquartered in the Suzhou New District Medical Device Industrial Park, Singular Medical has R&D centers in Beijing and Irvine, USA.

CRMIt is a technology that integrates cutting-edge disciplines such as cardiac electrophysiology, bioengineering, materials science, and electronic engineering. In this niche sector, China lags significantly behind developed countries in Europe and the United States; the market is nearly monopolized by foreign giants, and no representative domestic brand has yet gained industry recognition.

Since its establishment over three years ago, Singular Medical has assembled a seasoned team comprising overseas-returnee scientists and former executives from leading medical device corporations. Starting with implantable cardioverter-defibrillators (ICDs), the most technologically challenging products in the cardiac rhythm management (CRM) field, the company has now built a comprehensive CRM technology platform. Its future goal is to become a full-line supplier of CRM products in China, providing patients with arrhythmia with end-to-end therapeutic solutions covering monitoring, diagnosis, treatment, and post-operative follow-up.

To date, Singular Medical has filed over 60 patent applications. While advancing the research and development and commercialization of its existing products, the company is also actively positioning itself in the market with several high-end products, including dual-chamber pacemakers and cardiac resynchronization therapy defibrillators (CRT-D), thereby progressively enhancing Singular Medical’s comprehensive CRM solutions.

Singular Medical’s first-generation product under development is China’s first implantable cardioverter-defibrillator (ICD) with fully independent intellectual property rights. The product’s performance has reached an internationally leading level, and it is the first to be equipped with Bluetooth functionality, enabling remote patient follow-up across multiple scenarios. Through cost control and innovative services, it is accelerating the substitution of imported products. Currently, Singular Medical’s first-generation ICD product has entered the registration testing phase and has been submitted for approval as an innovative medical device.

Dr. Ping Lichuan, CEO of Singular Medical, stated: “We extend our gratitude to both new and existing shareholders for their recognition and support of the company. All products in Singular Medical’s current pipeline are benchmarked against first-tier international competitors. Among these, technologies such as ICDs, ICMs (implantable cardiac monitors), and CRT-Ds represent cutting-edge innovations that fill gaps in the domestic market. Adhering to the development strategy of ‘aligning with international standards while focusing on China,’ the company leads domestic innovation through its ‘Me-unique’ approach. On the basis of ensuring product performance meets international competitive standards, we have customized features such as automated sensing to address the specific needs of the Chinese patient population. Furthermore, we will actively collaborate with hospitals and other medical institutions to establish a China-specific arrhythmia database, thereby better serving patients.”

SDIC Chuanghe Biopharmaceutical Team stated: “China is a major country with over 20 million patients suffering from arrhythmia. As the population ages, the incidence of arrhythmia continues to rise. CRM-related devices are the gold standard for treating arrhythmia.”，The market potential is enormous, but it is currently dominated by imported products. For malignant ventricular arrhythmias, implantable cardioverter-defibrillators (ICDs) are the first-line treatment.On the one hand, we anticipate the development of advanced, reliable, and affordable domestically produced medical devicesTheaccelerate the penetration rate of such treatments. On the other hand,CRM devices represent the most technologically advanced segment in the cardiovascular field., Singular Medical is ChinaEntering this field and achieving meaningful progressLeading Company."SDIC Chuanghe will fully leverage its industrial ecosystem resources to support the company in breaking market monopolies through independent innovation, thereby meeting the growing demand for cardiac rhythm management among Chinese patients."

Zhang Ao, Executive Director of Qiming Venture Partners, stated“Imported products dominate the market share in China’s cardiac rhythm management (CRM) sector. The high market prices have resulted in a relatively low product penetration rate, making ‘import substitution’ an imperative trend. This marks the second collaboration between Qiming Venture Partners and the Singular Medical team. We are optimistic about the team’s independent R&D capabilities in the CRM field and believe that the company will launch a variety of cost-effective arrhythmia solutions in the near future, thereby alleviating the financial burden on patients.”

Northern Light Venture Capital Managing Director Deng Feng stated“Aurora Venture Partners is committed to investing in technology- and innovation-driven sectors. CRM represents a highly representative segment of medical devices characterized by significant technical barriers, which has long resisted domestication in China. Aurora has supported Singular Medical since its angel round, not only recognizing the team’s boldness and the value of overcoming technical barriers for domestically produced high-end devices, but also making a strategic early move in anticipation of the decade-long trend of technology-driven import substitution. We look forward to seeing Singular Medical’s products enter clinical use soon, thereby benefiting patients.”

Tang Yinan, Investment Director at MARATHON VENTURE PARTNERS, stated“MARATHON VENTURE PARTNERS is honored to have witnessed and supported the rapid growth of the Singular Medical team over the past two years. Singular Medical’s ICD and ICM product portfolio features high technical barriers and significant health economic value. The current round of payment reforms will greatly benefit the continued increase in market penetration and further expansion of the market space for its CRM series products in China. MARATHON VENTURE PARTNERS firmly believes in Singular Medical’s development strategy of ‘aligning with international standards while focusing on China,’ which aims to build solutions tailored to the unique challenges of the Chinese market through continuous innovation in technology, data application, and business models.”

Miao Lü, Founding Partner of Suzhou High-Tech Venture Capital Rongsheng Management Company, stated“Suzhou New District Venture Capital is honored to collaborate with outstanding local innovative medical enterprises like Singular Medical. The rapid growth of Singular Medical since its establishment in the industrial park nearly three years ago is evident to all. We will fully leverage the integrated advantages of Suzhou High-Tech Zone to continuously provide strategic resource support for the company's growth.”