RuiPai Medical Completes Hundreds of Millions RMB Series D Financing to Build a Globally Leading Single-Use Endoscopy Platform

VCBeat has learned that, recently, the global leader in the disposable endoscope sector,Guangzhou Ruipai Medical Devices Co., Ltd. (hereinafter referred to as “Ruipai Medical”)Announced the successful completion of a Series D financing round amounting to hundreds of millions of yuan.

This round of financing was led by CICC Capital,Changsha Tianxin Emerging Industry FundLead Investor,Guangzhou State-owned Development Holding Co., Ltd., Suzhou Sue XinYi and Investment Management Co., Ltd., Shenzhen Highland Barley Private Equity Investment Fund Management Co., Ltd., Guangdong Tongying Venture Capital Co., Ltd.Co-investment, existing shareholdersYuexiu Industrial Fund, Oriza HoldingsContinued Investment, Dianshi CapitalServed as the exclusive financial advisor. The funds raised in this round will be primarily used for the iterative development of multi-type endoscope products and the in-depth expansion of overseas commercial operations. Following this financing round, REDPINE will continue to promote the construction of intelligent endoscopy operating rooms, providing comprehensive single-use endoscopic diagnostic and therapeutic solutions covering all clinical departments for medical institutions, physicians, and patients.

In recent years, single-use endoscopes have significantly reduced the risk of "cross-infection" in clinical settings and optimized medical costs, gaining widespread adoption first in urological examinations. In 2020, a batch of domestic innovative enterprises, represented by REDPINE, successively received approval for their single-use ureteroscopes, marking the formal inception and entry into a period of rapid growth for the single-use endoscopy sector in China. The clinical value of single-use endoscopes has gradually gained recognition from healthcare institutions. In 2023, the sales volume of the domestic market for single-use flexible ureteroscopes exceeded 150,000 units, with REDPINE maintaining a leading market share across multiple provinces in China.

In 2024, the disposable endoscope industry entered a “new phase,” expanding from high coverage in a single department (urology) to other clinical specialties. Building a multi-specialty, multi-category product portfolio has become an industry consensus. This also validates the strategic correctness of REDPINE, which integrated a “comprehensive departmental layout” into its corporate development plan as early as its establishment in 2015.

Currently, REDPINE has obtained 20 NMPA registration certificates, covering seven types of endoscopes, including disposable ureteroscopes, disposable rigid cystoscopes, disposable flexible cystoscopes, disposable hysteroscopes, disposable cholangioscopes, disposable gastrosopes, and disposable colonoscopes. This makes REDPINE the only manufacturer of disposable endoscopes in China to have both large and small endoscope types approved for market launch, establishing a first-mover advantage in large endoscope products with high technical barriers. Through independent R&D and manufacturing across its entire product portfolio, the company has accumulated unique expertise in the research and production of core components for disposable endoscopes. By achieving cost reduction and efficiency improvement through large-scale, automated mass production, it meets the needs of its multi-pipeline business layout.

Development Trends in the Disposable Endoscope Industry, Source: REDPINE

Guided by a comprehensive departmental layout strategy, REDPINE has simultaneously developed portable endoscopy processors with multiple interfaces. These systems can be matched with various compatible models to meet the needs of hospitals at different tiers. In terms of commercialization strategy, as REDPINE has reserved technical upgrade and iteration windows for its endoscopy processors, hospitals that have already purchased REDPINE processors can rapidly respond to the demands of introducing new surgical procedures. This enables the use of one processor with multiple endoscopes and facilitates efficient consecutive surgeries, significantly reducing surgical costs and truly achieving convenience for medical staff and broader benefits for patients.

Product Portfolio of REDPINE’s Marketed Disposable Endoscopes, Source: REDPINE

Disposable endoscopes boast broad market prospects globally. Given that overseas charges for endoscopic procedures and sterilization costs are significantly higher than those in China, most minor endoscope categories exhibit a clear trend toward replacement by disposable alternatives. Chinese endoscope manufacturers, leveraging their supply chain and manufacturing advantages, possess strong competitiveness in overseas markets.

Since 2022, REDPINE has intensified its efforts to expand into overseas markets. Over the past two years, its products have been frequently showcased at multiple premier international conferences, including Digestive Disease Week (DDW), the American Urological Association Annual Meeting (AUA), the AAGL Global Congress on Minimally Invasive Gynecologic Surgery, and the European Association of Urology Congress (EAU), earning consistent recognition from international peers and medical experts. To date, REDPINE has obtained 50 overseas regulatory approvals, including CE and FDA certifications, with its products marketed in more than 40 countries and regions across Europe, the Middle East, North America, South America, and Southeast Asia.

At this year’s AUA Annual Meeting, REDPINE and Cook Medical, a global leader in urology, officially announced a major strategic partnership to jointly promote REDPINE’s single-use ureteroscopes in the North American market. Leveraging its continuous innovation in urology product lines, independent intellectual property rights, superior image quality, and strong clinical reputation, REDPINE has earned the recognition of this powerful partner. Its single-use ureteroscope products will serve as an important complement to Cook Medical’s urology portfolio, and both parties will continue to explore broader opportunities for future collaboration. The successful partnership between REDPINE and Cook Medical marks a new phase in the global expansion of REDPINE, a Chinese manufacturer of single-use endoscopes.

REDPINE Attends AUA 2024, Source: REDPINE

In light of the successful completion of this round of financing,Mr. Yi Feng, Founder of REDPINEstated: “We extend our sincere gratitude to both new and existing shareholders for their strong support of REDPINE. We anticipate a sales surge for multiple endoscope models this year. Over the nine years since its establishment, the REDPINE team has remained committed to forging ahead and cultivating solid growth. We look forward to working together with our shareholders to build REDPINE into an influential international brand, enabling patients worldwide to access affordable, high-quality medical resources made in China.”

The Tianxin Emerging Industry Fund Team under CICC Capitalstated: “The clinical benefits of single-use endoscopes have been thoroughly demonstrated, and their design philosophy meets the demands for timeliness and cost-effectiveness in many clinical diagnosis and treatment scenarios. We believe that achieving full-department coverage is undoubtedly the ultimate goal for manufacturers of single-use endoscopes. As one of the earliest companies in China to deploy single-use endoscope products, REDPINE’s team has fully proven its technical strength and commercialization capabilities. We are optimistic that REDPINE will grow into a distinctive, globally competitive leading domestic enterprise.”

Guangzhou State-owned Development Holding Co., Ltd. Teamstated: “As one of the first 100 emerging enterprises in Guangzhou, REDPINE’s development over the past few years has been widely recognized, gradually growing into a representative hallmark of Guangzhou’s medical device industry. Although disposable endoscope products were introduced to the domestic market only recently, they have experienced rapid growth in China in recent years, aligning with the national initiative to strengthen ‘primary healthcare’the strategic layout and the direction of building a “tiered diagnosis and treatment” system. We hope that REDPINE’s medical team will proceed steadily, continue to innovate, and contribute to the development of the healthcare ecosystem in the Greater Bay Area.”

Yuexiu Industrial Fund Team“YUEXIU Industrial Investment Fund is committed to its mission of implementing national strategies, serving the real economy, fostering technological innovation, and enhancing people’s quality of life, with a long-term focus on the development of the innovative medical device industry. This continued additional investment reflects our recognition of REDPINE’s R&D capabilities, market expansion strength, and social value. YUEXIU Industrial Investment Fund will continue to practice empowerment-oriented investment, supporting the advancement of the company’s product pipeline and clinical promotion, thereby accelerating structural upgrades in the endoscopy field.”

Mr. Ren Zhong, Partner at Dianshi Capitalstated: “REDPINE is a key strategic partner for us in the niche sector of minimally invasive surgery. We are honored to collaborate with the company once again by introducing new shareholders to support its future development. Over the past few years, we have witnessed Mr. Yi and his team’s bold and enterprising spirit, which has driven the company’s rapid growth. We look forward to seeing Chinese-made single-use endoscope manufacturers, led by REDPINE and representing new quality productive forces, expand globally and showcase ‘Made in China’’Elegance.”