Langmai Medical Aims for Top 3 in Spinal Minimally Invasive Sector with Projected Revenue of RMB 50 Million

According to data published on the website of the National Bureau of Statistics, the total population at the end of 2019 reached 1.40005 billion, including 175.99 million people aged 65 and above. Over the past two decades, the number of individuals aged 65 and above has doubled, rising from 88.21 million in 2000 to 175.99 million in 2020. Meanwhile, the average life expectancy in China continues to increase. In 2015, the average life expectancy was 76.34 years, with males averaging 73.64 years and females averaging 79.34 years.

The intensifying trend of population aging, coupled with the characteristics of degenerative orthopedic diseases, has led to a rapid increase in the number of orthopedic surgeries. As sports concepts from Europe and the United States gain greater acceptance among young people in China, the number of joint injuries caused by improper exercise techniques continues to rise.

Consequently, the demand for minimally invasive spine and joint surgeries has been increasing year by year.Shanghai Lange Medtech Group, Dedicated to Minimally Invasive Medical Devices for Spine and JointsHow did Lange Medtech (hereinafter referred to as “Lange Medtech”) enter this field? How do they view this market? VCBeat interviewed Lv Zhenjie, co-founder of Lange Medtech and a participant in the Star Future Entrepreneurship Camp.

Given the specialized nature of medical science, the research and development of medical devices often involves multiple disciplines, including materials science, electronics, and mechanical engineering. Lv Zhenjie, who graduated in 2004 with a major in Mechatronics and Automation, chose to delve deeply into the healthcare industry. To further his career development, he later earned a master’s degree in Mechanical Engineering. The founding of Lange Medtech can be traced back to Lv Zhenjie’s professional journey.

In 2006, Lü Zhenjie joined Shanghai MicroPort Medical Device Co., Ltd. (hereinafter referred to as "Shanghai MicroPort"), where he was primarily engaged in the research and development of cardiovascular medical devices. In 2009, Shanghai MicroPort attempted to enter the field of minimally invasive orthopedics.Lu Zhenjie joined a newly established subsidiary of Shanghai MicroPort as a member of the orthopedic R&D team, primarily engaged in the development of spinal internal fixation system solutions. He also conducted research on cutting-edge technologies, including lumbar dynamic fixation techniques, absorbable material-based interbody fusion cages, and artificial disc replacements.

While exploring opportunities in the field of vertebroplasty in 2010, Lu Zhenjie keenly recognized that “since many orthopedic conditions are degenerative diseases, the incidence of such disorders is steadily rising in China as its population ages.” His industry insights and R&D experience convinced him that it was essential to seize this opportunity for sector growth. The acquisition of Suzhou Hios Medical Device Co., Ltd. by Shanghai MicroPort Orthopedics in 2011, along with the resulting adjustments to its R&D and operational strategies, further catalyzed this decision. Consequently, in 2012, Lu Zhenjie and his co-founders timely departed to establish Lange Medtech.

Constrained by its own resources, Lange Medtech chose to enter the market through a niche segment of orthopedics.Established in 2012, Lange Medtech obtained CE certification for Yasheng PVP & PKP in 2013. Subsequently, its vertebroplasty series products and minimally invasive transforaminal endoscopy products successively received domestic and international registration certificates.

Lange Medtech's current core business activities primarily consist of two segments:R&D and sales of consumables and equipment for minimally invasive spine surgery and minimally invasive joint surgery (sports medicine).

Minimally Invasive Spine Surgery Comprises Two Components. The First Component Addresses Solutions for Vertebral Compression Fractures, covering vertebral body expansion balloons, puncture kits, bone cement injection kits, bone cement, etc.Lü Zhenjie stated that this segment already holds 14 product registration certificates. As an essential and critical product, bone cement presents technical barriers such as stability requirements; therefore, Lange Medtech has opted for exclusive distribution of products from a French company.

Minimally Invasive Spine SurgeryPart II: Treatment for Spinal Disc DegenerationAs people age, intervertebral discs gradually degenerate and lose moisture, leading to conditions such as disc herniation and pain caused by sports injuries. This process exhibits characteristics of staged progression. Early-stage management can involve minimally invasive treatments. Lange Medtech is active in this field.Independently developed radiofrequency ablation systems and bipolar radiofrequency ablation electrodes, while securing exclusive distribution rights for transforaminal endoscopes from Germany., completing the coverage from consumables to equipment.

Minimally Invasive Joint Surgery (Sports Medicine): Primarily involves arthroscopic minimally invasive procedures.Lange Medtech has independently developed plasma radiofrequency ablation electrodes and plasma radiofrequency ablation systems in this field, establishing an initial product portfolio. The company’s offerings in this domain include arthroscopes, plasma radiofrequency ablation systems, and implants for soft tissue repair in joints, among others.

Shanghai MicroPort’s professional experience has provided Lü Zhenjie with certain reference value.Lange Medtech obtains first-hand sales data through its marketing and sales personnel, gathers clinical medical needs from clinical medical experts, and then has its engineering and technical staff implement product development.When it comes to innovative products, Lange Medtech chooses to collaborate with research institutions to achieve the integration of industry, academia, and research. For example, it engages in joint project development and clinical studies with institutions such as Changzheng Hospital and Zhongshan Hospital.

Adopting a strategy of in-house R&D combined with agency distribution, and integrating devices with consumables, is essentially aimed at providing users with comprehensive solutions.Some companies opt for agency models due to the limitations of domestic technical capabilities. Even when developing products similar to transforaminal endoscopes, a certain technological gap persists. The agency approach helps complete the product portfolio and allows companies to further explore technologies, thereby accumulating expertise for independent R&D of medical devices.

Lü Zhenjie stated that Lange Medtech, a relatively new company, securing exclusive distribution rights was not merely a matter of chance compared to other manufacturers. “There are many medical device companies capable of product R&D, manufacturing, and quality management, and many others able to interface with advanced foreign medical products. However, few enterprises can effectively integrate these two areas of business.” Lü cited as an example that while there are numerous companies in China engaged in vertebroplasty, few have secured exclusive distribution rights for key bone cement products. Yet Lange Medtech, despite its recent establishment, has achieved this.

In Lv Zhenjie’s view, the advantages extend far beyond this. During the startup phase, continuous exploration through trial and error, deep industry engagement, and team members’ complementary strengths aligned with shared values are equally critical. Moreover, joining the Fosun Star Future Entrepreneurship Camp has proven highly beneficial for Lv Zhenjie, providing him with a broadened perspective on the healthcare industry and practical, hands-on training.

Their understanding and insights into the market form the foundation for their in-depth engagement. Lü Zhenjie stated that currently, there are approximately 100,000 annual procedures of intervertebral disc radiofrequency ablation for treating disc herniation in China. Additionally, over 200,000 arthroscopic radiofrequency ablation surgeries are performed each year. Meanwhile, due to the presence of informal sales channels and the reuse of consumables in some hospitals, the clinical application of radiofrequency ablation electrodes is poised for a new round of growth as hospital infection control systems are established and hospitals place greater emphasis on compliance.

Currently, Lange MedtechThe bipolar radiofrequency ablation electrode for minimally invasive spinal products received the NMPA Class III certification in April 2018; the plasma radiofrequency ablation electrode for minimally invasive arthroscopic products received the NMPA Class II certification in November 2017.In 2020, the projected sales volume of spinal radiofrequency ablation electrodes was expected to exceed 5,000 units, with a future target of achieving a 10–15% market share. With the corresponding equipment investment by Lange Medtech, Lv Zhenjie believesRadiofrequency ablation electrodes, as essential consumables, will experience rapid growth.

In 2019, Lange Medtech’s revenue reached RMB 30 million, with this year’s revenue expected to exceed RMB 50 million. Currently, the company’s primary product offerings consist of consumables, while equipment—having been added to its portfolio only recently through agency agreements—is still in the planning and promotion stage. Among consumables, agency products account for 40% of the company’s revenue, whereas proprietary consumables contribute 60%.The corresponding consumables have been implemented in multiple Grade A tertiary hospitals, including the First Affiliated Hospital of Zhengzhou University, Peking Union Medical College Hospital, Shanghai Ninth People's Hospital, Guangdong Provincial Hospital of Traditional Chinese Medicine, and the Third Hospital of Hebei Province.

However, the trend is increasingly shifting toward primary care hospitals. Many vertebroplasty procedures can be performed at these grassroots institutions, offering patients rapid recovery and lower risks. Tertiary A hospitals, by contrast, serve more as benchmarks; their surgical volumes are not substantial. For instance, many Tertiary A hospitals in Shanghai perform only 200–300 vertebroplasty procedures annually, whereas a district-level central hospital in Shanghai can conduct 500–600 such surgeries per year.

For Lange Medtech, the goal is clear,Their goal is to rank among the top three players in the minimally invasive spine surgery sector., and gradually expand its operations in the field of arthroscopy. In this domain, Lange Medtech will replicate the operational model of its minimally invasive spine business. Ultimately, Lange Medtech plans to achieve an annual revenue of RMB 100 million in 2022.

At present, Lange Medtech has no new agency plans. The previous equipment agency arrangements were solely intended to achieve comprehensive coverage of its solutions. In the future, Lange Medtech will continue to control the revenue generated from agency-based equipment and consumables, striving to highlight the strength of its independently developed medical devices and consumables.

Lange Medtech is planning a Series A financing round, with a target raise of RMB 40–50 million.The fundraising proceeds are planned to be used for enhancing the product platform, filling gaps in the transforaminal endoscope and radiofrequency energy platform products; independently developing transforaminal endoscopy equipment proprietary to Lange Medtech; and optimizing and updating osteoporosis-related products.It is expected that 60% of the financing proceeds will be allocated to research and development, with the remaining funds dedicated to market operations.

Lu Zhenjie, who has long been engaged in the research and development of orthopedic medical devices, holds high hopes for the industry. He believes that surgical robots will further help surgeons reduce the difficulty and intensity of procedures. The field of orthopedics focuses on functional reconstruction to restore patients' mobility. Future development will prioritize organ reconstruction, with innovation centered on materials. In the future, implantation of synthetic materials may ultimately enable autonomous replacement of human body parts, although this process still requires continuous exploration.

Fosun·Star Future Institute is an incubation and investment platform focused on the broader healthcare sector, established by Star Future Capital in reliance on Fosun Group and Fosun Pharma. Adopting a “community + incubation + investment” model, it explores frontier innovation domains, focuses on entrepreneurial talent, and secures early-stage investments in future unicorns.

In 2020, the Big Health Entrepreneurship Camp launched its second cohort, targeting entrepreneurs in the healthcare sector and aspiring innovators. It invited top-tier global mentors and introduced six core incubation modules, offering entrepreneurship courses with the most substantial industrial background and practical experience in China.

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