Trivis Imaging Completes HK$40 Million Pre-A Financing to Advance China's Indigenous Medical Imaging Innovation

Zhonghui Medical Imaging Co., Ltd. is a global leading provider of AI-powered 3D ultrasound imaging technologies, equipment, and solutions. Its pioneering Scolioscan^®Radiation-Free 3D Ultrasound Scoliosis Assessment System: A Safe and Efficient Novel Solution for Scoliosis Detection

The company has gained recognition and support from numerous renowned investment institutions, inCompleted a Pre-A financing round of nearly HK$40 million in April 2023, with cumulative financing exceeding HK$100 million to date. Investors in this round included Fosun Pharma, the AEF Greater Bay Area Venture Fund (managed by Gobi Greater Bay Area), The Hong Kong Polytechnic University, and several strategic industry investors. The funds will be used to further accelerate product research and development and market expansion, as well as to attract more top-tier talent to join the team.

Figure: Left is Zhonghui Medical ImagingMs. Han Mingzhu, CEO and Managing Partner; on the right is Professor Zheng Yongping, Co-founder of Zhonghui Medical Imaging and Inventor of the Technology

Zhonghui Medical Imaging’s team has remained at the forefront of academic research while integrating globally leading technological resources, committed to innovating medical technologies for the benefit of society. The company’s R&D team is led by Professor Zheng Yongping of The Hong Kong Polytechnic University. Professor Zheng was consecutively named to Stanford University’s “World’s Top 2% Scientists” list in 2021 and 2022 (in the fields of artificial intelligence and image processing). He is the founding Head of the Department of Biomedical Engineering at The Hong Kong Polytechnic University, and currently serves as Director of the Research Institute for Smart Ageing and Director of the Jockey Club Smart Ageing Hub at the university. With over 150 patents and more than 300 peer-reviewed journal publications, many of his inventions have been successfully commercialized. Professor Zheng was also the sole recipient in the Life and Health category of the inaugural BOCHK Science and Technology Innovation Prize in 2022.

Scolioscan, a brand under Zhonghui Medical Imaging^®It is the world's first ultrasound-based scoliosis assessment system, featuring 19 globally pioneering and leading technologies and holding over 100 patents.Scolioscan has obtained medical device certifications in the European Union, Australia, and Mainland China, providing orthopedic, rehabilitation, and sports medicine physicians with a radiation-free, safe scoliosis assessment solution with accuracy comparable to X-rays.^®Widely applied in scoliosis screening, diagnosis, disease tracking and prediction, as well as in the visualization and evaluation of treatment outcomes during non-surgical management., the 3D ultrasound imaging protocol employed herein can also be applied to the prevention, treatment, and medical assessment of other chronic musculoskeletal disorders.

To date, the research team at Zhonghui Medical Imaging has collaborated with internationally renowned hospitals and universities, publishing more than 20 research papers in top-tier international journals in fields such as orthopedics and kinesiology, ultrasound, machine vision, and pattern recognition, thereby validating the accuracy and reliability of 3D ultrasound technology. Scolioscan^®The ultrasound scoliosis assessment system has been validated through clinical trials, demonstrating a 94.64% linear correlation between the ultrasound UCA angle and the X-ray Cobb angle. The system has won multiple awards in international and domestic innovation competitions.

“Scolioscan^®“There is no radiation hazard, and it does not expose patients to an increased risk of cancer. X-ray examinations should not be performed too frequently; the medical community recommends an interval of at least 6 to 12 months between scans, as cumulative X-ray exposure significantly increases cancer incidence. However, for adolescent patients with worsening conditions, a six-month interval is already quite long. Furthermore, during non-surgical treatment of scoliosis, continuous imaging monitoring is a critical component in ensuring therapeutic efficacy, making frequent X-ray examinations unavoidable. According to a study from Denmark, scoliosis patients underwent an average of 16 X-ray examinations during diagnosis and treatment in adolescence, resulting in a cancer incidence rate 4.8 times higher than that of their peers after 25 years. Therefore, we have developed a safer method for assessing scoliosis compared to X-rays: ultrasound imaging technology, which poses no risk from ionizing radiation,” said Professor Zheng Yongping, Co-founder and Technical Inventor of Zhonghui Medical Imaging.

Zhonghui Medical Imaging has successively obtained EU CE certification and Australian ARTG certification. Currently, its ultrasound-based scoliosis assessment system is in clinical use in multiple overseas countries and regions, including Germany, the Netherlands, Poland, Italy, Bosnia and Herzegovina, Romania, and Australia.

Zhonghui Medical Imaging established Zhonghui Medical Imaging (Shenzhen) Co., Ltd. in Shenzhen in September 2020 and Zhonghui Medical Imaging (Hunan) Technology Co., Ltd. in Changsha in April 2021, with the aim of providing Chinese users with fast and convenient localized products and services. In December 2021, its Ultrasound Scoliosis Assessment System received certification from China’s National Medical Products Administration (NMPA). After more than a year of market expansion, the system is now used at Peking University People’s Hospital, Xinhua Hospital Affiliated to Shanghai Jiao Tong University School of Medicine, West China Hospital of Sichuan University, The University of Hong Kong-Shenzhen Hospital, Shenzhen Hospital of University of Chinese Academy of Sciences, Guangdong Work Injury Rehabilitation Hospital, The Third Affiliated Hospital of Sun Yat-sen University, The Third Affiliated Hospital of Guangzhou Medical University, Qilu Hospital of Shandong University, The Affiliated Hospital of Qingdao University, Shandong Provincial Third Hospital, Weifang People’s Hospital, Liaocheng Third People’s Hospital, Shandong Mental Health Center, Tianjin Hospital, Tangshan Second Hospital, Henan Provincial People’s Hospital, The Fifth Affiliated Hospital of Zhengzhou University, The First Affiliated Hospital of Zhengzhou University, Jiangsu Provincial Rehabilitation Center for Persons with Disabilities, The Fourth Affiliated Hospital of Nanjing Medical University, Taizhou People’s Hospital, Jiangsu Provincial People’s Hospital, Nanjing Drum Tower Hospital of Nanjing University, Wuxi Ninth People’s Hospital, and Zhongshan Hospital Affiliated to Zhejiang Chinese Medical University, among others.Installed and used clinically in the orthopedic rehabilitation departments of over 40 Grade A tertiary hospitals and specialized hospitals in China,and collaborate with multiple universities, including Capital University of Physical Education and Sports and Guangzhou Sport University, on industry-academia-research partnerships in the integration of sports and medicine and exercise rehabilitation for scoliosis, thereby further improving post-screening exercise-based interventions for adolescent scoliosis to achieve early detection, early intervention, and early treatment.

Zhonghui Medical Imaging, guided by its vision of “technology creating a better life,” has consistently sponsored public welfare initiatives focused on spinal health, providing millions of RMB in financial, material, and personnel support to multiple domestic charitable foundations. In May 2023, Zhonghui sponsored the “Plateau Spinal Health” project, a medical charity initiative jointly launched by the China Association for the Protection and Development of Tibetan Culture and the Beijing Haiying Spinal Health Public Welfare Foundation under the guidance of the United Front Work Department of the CPC Central Committee. Led by Academician Zhan Qimin of the Chinese Academy of Engineering and Professor Liu Haiying, head of the National Working Group on Prevention and Control of Scoliosis in Children and Adolescents, a team of more than 60 experts from across China traveled to Garzê Tibetan Autonomous Prefecture in Sichuan Province to provide free clinical services. The team used a portable ultrasound-based scoliosis assessment system to screen and evaluate children in Garzê for scoliosis, an effort warmly welcomed by the local government and residents. Zhonghui Medical Imaging will continue to drive innovative development in medical imaging technology and strive to contribute to the advancement of the healthcare industry and human health.

Scoliosis is the third most prevalent disease threatening the health of children and adolescents. Public data indicate that the prevalence of scoliosis in China is approximately 2%–3%, with a significant increase in incidence in recent years and a trend toward onset at younger ages.

The Notice on the 14th Five-Year Plan for National Health issued by the State Council explicitly states that scoliosis screening will be included in basic public health services; it promotes the opening and shared use of public and school sports facilities, and encourages community medical and health institutions to establish scientific fitness clinics. It also calls for providing sports and fitness guidance for special populations, strengthening non-medical health interventions, establishing and improving a library of exercise prescriptions, and promoting their application. In the post-pandemic era, driven by accelerating population aging, heightened national awareness of rehabilitation, and strong policy support from the government, the market size of the rehabilitation medical service industry is expected to continue growing. By 2025, the number of people engaged in sports in China is projected to reach 500 million, leading to an increased incidence of sports-related injuries and diseases. It is estimated that 100 million people in mainland China will require treatment and services for sports injuries and related conditions.The market size of China's rehabilitation medical services is projected to reach 268.6 billion yuan in 2025,The CAGR from 2022 to 2025 was approximately 38.5%, indicating substantial growth potential for the overall market in the future,Zhonghui Medical Imaging’s 3D Musculoskeletal Chronic Disease Assessment and Exercise Rehabilitation Product Line Has a Potential Market Size of RMB 10 Billion in Mainland China Alone.

Ms. Han Mingzhu, CEO and Managing Partner of Zhonghui Medical Imagingstated, “The commercialization of original university technologies is an arduous and tortuous process. Zhonghui Medical Imaging has undergone years of technological exploration, enabling Scolioscan”^®Become a successful example.The company has entered a phase of rapid commercialization. We expect to complete installation and commercial conversion at no fewer than 100 partner institutions in China by the end of this year, covering orthopedic rehabilitation departments in Grade A tertiary hospitals, specialized hospitals, and specialized clinics. We are currently applying for FDA approval and plan to formally enter the U.S. market next year.In this round of financing, we secured investment from renowned venture capital firms. This not only represents a high level of recognition and trust in the business prospects and innovative potential of Zhonghui Medical Imaging, but also serves as an affirmation of our team’s strength.The article “Implementation Pathway of Exercise Therapy for Adolescent Scoliosis under the Guidance of Sports-Medicine Integration: Based on Expert Consensus,” published in the first issue of 2023 of the Chinese Journal of Preventive Medicine, was authored by a broad panel of renowned experts from the fields of medicine and sports health in China, organized by the Sports and Exercise Health Branch of the Chinese Preventive Medicine Association. The opinions proposed by Zhonghui Medical Imaging, as a representative of leading industrial technologies, were adopted and affirmed. Zhonghui Medical Imaging positions its 3D ultrasound product series as the preferred radiation-free medical assessment tool for scientific exercise and the prevention and management of chronic musculoskeletal conditions. In the future, the team will prioritize the development of sports-medicine integrated products, achieving radiation-free, real-time, and consistent 3D ultrasound visualization and evaluation for muscle, ligament, and joint injuries, as well as skeletal deformities."As the demand for minimally invasive treatments continues to grow, Zhonghui Medical Imaging will push the boundaries of medical-grade technology by providing screening, intervention, professional scientific exercise training, and rehabilitation assessment and treatment plans for musculoskeletal chronic diseases such as scoliosis to non-medical institutions and households. Patients can perform rehabilitation exercises under the guidance of the APP, including posture correction, exercise interventions for chronic diseases, and partial chronic pain management."

Dr. Yang Ying, Senior Vice President and Chief Investment Officer of the Medical Device Division at Fosun Pharma“Fosun Pharma, as an innovation-driven global healthcare group, focuses in the medical device sector on teams and enterprises with deep expertise in foundational technological R&D and commercialized products that demonstrate significant clinical value. Zhonghui Medical Imaging integrates artificial intelligence with ultrasound diagnostic technology to launch high-performance, radiation-free orthopedic diagnostic equipment. We look forward to seeing its technology platform expand into more clinical areas, benefiting a broader patient population. United Medical International (UMI), a subsidiary of Fosun Pharma, will leverage its comprehensive commercialization network to accelerate the accessibility of the company’s products as their exclusive national distributor.”

Tang Qibo, Managing Partner of Gobi Greater Bay AreaHe stated, “Scoliosis is a serious condition affecting many people around the world. We believe that Zhonghui Medical Imaging’s products can not only help prevent it but also assist those who already have this condition. We also hope that the company’s technology will eventually be applied in physical therapy and other healthcare fields.”

Wang Jiada, Director of the Knowledge Transfer and Entrepreneurship Office at The Hong Kong Polytechnic Universitystated, “As a top-100 university worldwide, PolyU is committed to leveraging world-class research and innovation, and expanding the impact of research translation by fostering university-industry collaboration. PolyU continues to develop its unique entrepreneurial ecosystem, PolyVentures, to support the entrepreneurial endeavors of PolyU scholars, researchers, alumni, and students. It also provides comprehensive support—including funding, training, and mentorship—to startups at various stages of development. Meanwhile, PolyU is dedicated to cultivating strategic partnerships with ecosystem members to incubate and nurture startups, thereby facilitating the translation of research outcomes into real-world applications for the benefit of society. The team at Zhonghui Medical Imaging prioritizes the development of original technologies, which originated from PolyU’s Biomedical Engineering Laboratory. This initiative marks the University’s first integrated project combining industry, academia, research, and innovation investment. In the future, PolyU will continue to support more PolyU-affiliated startups like Zhonghui Medical Imaging that focus on original technologies, assisting them in establishing sustainable international competitive advantages and showcasing PolyU’s research achievements.”

Zhonghui Medical Imaging Co., Ltd., headquartered in Hong Kong, China, is a global leading provider of 3D ultrasound imaging technologies, equipment, and solutions. Its independently developed AI multi-modal fusion 3D ultrasound imaging technology platform features 19 globally pioneering and leading technologies and holds over 100 patents. Currently, multiple 3D ultrasound imaging products have obtained medical device certifications in the European Union, Australia, and mainland China. The company’s 3D ultrasound imaging solutions are applicable to the prevention, treatment, and medical assessment of various chronic musculoskeletal conditions, with a commitment to becoming the preferred radiation-free medical assessment tool for scientific exercise and the management of chronic musculoskeletal diseases. Its brand, Scolioscan^®The brand’s product line is widely used for scoliosis screening, diagnosis, disease monitoring and prediction, as well as for visual feedback and evaluation of treatment outcomes during non-surgical management. It provides orthopedic, rehabilitation, and sports medicine physicians with a radiation-free, safe scoliosis assessment solution whose accuracy rivals that of X-rays.