Xinyun Medical Secures RMB 20 Million Series A Funding Led by Jinke Junchuang to Advance Pain Management Solutions

April 3 News: New Cloud Medical, a domestic pain specialty medical consortium, announced the completion of its RMB 20 million Series A financing round, led by Beijing Jinke Hightech&Innovation Ventures Co.,Ltd., with participation from Legendstar Capital, Shanghai Zhonglu(Group)Co.,Ltd, and Laolarou Fund. Zhao Yun, founder of New Cloud Medical, stated that the funds will be used to accelerate the development of New Cloud Medical’s B2B healthcare service system and the research and development of innovative medical devices for pain treatment.

It is understood that New Cloud Medical operates as a specialized medical consortium for pain management, providing distinctive specialty solutions to public secondary hospitals at the municipal and county levels across China. Its aim is to establish specialized pain departments at these levels and enhance the diagnostic and therapeutic standards in pain management. In addition to its TaaS (Therapeutics as a Service) cloud-based diagnosis and treatment platform, which serves public hospitals nationwide, New Cloud Medical also offers an intelligent hardware product known as the Smart Cloud Patch.

Currently, New Cloud Medical has established partnerships with over 20 medical institutions, among which the pain management departments of seven hospitals are already operational. Following the completion of its financing round, New Cloud Medical projected in 2019 to expand its B2B medical services to 10 medical institutions and launch a chain of pain management centers specializing in day-case surgeries.

Previously, New Cloud Medical secured tens of millions in investment from renowned institutional investors, including Zhonglu Capital.

Regarding this round of financing, Wang Yi, Investment Director at Legendstar Capital, stated, “As people’s consumption levels and health awareness rise, the pain threshold will undergo weakening compensatory changes, and the demand for pain treatment will experience a structural transformation. Liao Jieyuan, Chairman of WeDoctor, once said that the deeper China’s healthcare system penetrates into grassroots levels, the more solid its commercial foundation becomes. Our judgment on the market demand for grassroots medical services has been validated through New Cloud Medical. At the time of our investment, New Cloud Medical was still a start-up, but it benefited from support by China’s top-tier pain management experts. We encouraged Mr. Zhao Yun to boldly innovate, truly driving medical resources down to the grassroots level to address the actual needs of primary care, in alignment with the tiered diagnosis and treatment system advocated by the state.”

(Editor: Qi Yan)