FusionTech Secures RMB 50 Million in Exclusive Angel Funding from Longling Capital Amid Strong Revenue Growth

VCBeat has learned that Hubei Fuxin Kechuang Information Technology Co., Ltd. (hereinafter referred to as “Fuxin Kechuang”) has completed a RMB 50 million angel financing round, exclusively invested by Long Hill Capital.

Since its inception, Fuxin Kechuang has been deeply engaged in the field of healthcare informatization, with its products and solutions covering core sectors such as hospital-wide DRG/DIP solutions, smart clinical care, smart management, smart services, hospital evaluation, and smart medical consortia.

According to Fuxin Kechuang, despite the pressure of the pandemic in 2022, the company still achieved a contract value of nearly RMB 50 million, with a growth rate exceeding 100%; revenue is expected to double again in 2023, with projected contract revenue ranging from RMB 150 million to RMB 200 million.

According to IDC statistics, China's IT spending in the healthcare industry reached RMB 71.2 billion in 2021, with the market size projected to grow to RMB 101 billion by 2024, representing a compound annual growth rate (CAGR) of 12.36% from 2021 to 2024, of which over 70% was attributed to software services. Currently, this vertical sector has given rise to several listed companies, including Winning Health Technology Group, DHC Software, and Wonders Information.

However, the traditional hospital information technology software market is inefficient and stagnant, primarily driven by customized projects that hinder the formation of economies of scale. The high degree of personalization and customization required for hospital workflows makes product standardization difficult. Furthermore, the wide variety of hospital business systems and the large number of vendors complicate business integration. Consequently, hospital software projects almost always require on-site delivery and customized services, making business expansion challenging.

FUSIONTECH’s Ziwei Software Customization Platform leverages cloud-native low-code technology to resolve this series of challenges. By adopting the Ziwei Hospital Software Customization Platform, the development, customization, and implementation cycles for business systems can be shortened by 77%–81%, significantly reducing procurement costs for distributors and enabling their deep involvement in customized system development.

Addressing the pain points of fragmentation, regionalization, and the absence of SaaS models in the traditional hospital information software market, Fuxin Kechuang has pioneered a cloud-native low-code solution to these challenges. Through a graphical drag-and-drop interface, various hospital applications can be developed and customized without complex coding, significantly accelerating development and delivery implementation. Amidst the vigorous construction of new healthcare infrastructure, the launch of Fuxin Kechuang’s Ziwei Hospital Software Customization Platform contributes intelligent solutions to further accelerate healthcare informatization and drive the digital and intelligent transformation of hospitals.

From February 24 to 26, FUSIONTECH showcased its Ziwei Hospital Software Customization Platform at CHINC, a premier conference on healthcare informatization, drawing significant attention from attendees.

It is reported that the CHINC Conference was hosted by the Hospital Management Institute of the National Health Commission and organized by China Digital Medicine Magazine Co., Ltd. The conference brought together experts, scholars, and technical professionals in the fields of healthcare informatization and digital medicine, with more than 300 exhibiting companies and over 60,000 on-site attendees.

At the exhibition, Wu Di, CEO of Fuxin Kechuang, delivered a roadshow presentation titled “How to Solve the Chronic Problems of Hospital Software Systems: The Ziwei Customization Platform,” which garnered widespread attention and acclaim.

Director of the Information Department at a Large Grade-A Tertiary Hospital: “The Ziwei Platform was a standout product at the conference. Its design philosophy completely disrupts the traditional framework of healthcare IT, aligning well with hospital development needs. It enables information department staff to rapidly customize solutions without coding, eliminating dependence on vendors. We are highly eager to engage in deep collaboration with the company to address our pain points.”

“The cost of training and employing R&D personnel is prohibitively high for our company, yet after-sales service from third-party vendors cannot be guaranteed. The Ziwei Platform has provided us with standardized system templates and development tools, enabling us to better serve our customers,” remarked Mr. Wang, a representative of an IT services provider exhibiting at the event.

CHINC Conference: Ziwei Platform Roadshow

Leveraging flexible and efficient solutions, Fuxin Kechuang has made a strong debut in commercialization, becoming a trusted partner to hundreds of large and medium-sized medical institutions and health authorities, earning widespread acclaim.

Wu Di, CEO of Fuxin Kechuang, revealed to VCBeat that the company achieved contract revenue of nearly RMB 50 million in 2022, a year significantly impacted by the pandemic. By the end of February 2023, it had already secured new contracts worth nearly RMB 20 million. The company has established close partnerships with multiple healthcare IT firms and has developed channel markets in Guangdong, Zhejiang, Jiangsu, Jiangxi, Hunan, and other regions. It is projected that channel revenue will account for more than 50% of its total contract revenue in 2023.

In the upcoming Q2, Fuxin Sci-Tech Innovation will continue to intensify its market-side efforts, build a nationwide ecosystem for the medical informatics industry, and is expected to onboard hundreds of channel partners throughout the year.

Wu Di, CEO of Fuxin KechuangHe stated, “If 2022 was a year when the pause button was pressed, this year Fuxin Kechuang will unleash its long-accumulated energy and plans. This year will be one of comprehensive rapid advancement for the company.”

As medical IT innovation continues to deepen, Fuxin Kechuang will empower hospitals and information integration vendors to embrace digitalization in a simpler, more efficient, and standardized manner through low-code solutions, thereby supporting the new infrastructure development in healthcare.

Jiang Xiaodong, Managing Partner at Long Hill Capitalstated: “Healthcare informatization has long been a key sector of focus for Long Hill Capital. A persistent industry-wide pain point has been the abundance of customized hospital requirements, which leads to low development efficiency, prolonged implementation cycles, and persistently high costs for vendors. The founding team of FUSIONTECH is a rare hybrid team that combines expertise in low-code cloud-native technologies with extensive experience in the healthcare informatization industry. They are committed to building a low-code development platform specifically designed and optimized for healthcare scenarios, thereby lowering the barrier to entry for developing healthcare information systems and accelerating efficiency across the entire industry. As the company’s exclusive angel investor, we are delighted to see its Ziwei Hospital Software Customization Platform shine at CHINC, the industry’s premier conference, and to witness the validation of its business model through successful deployments in over one hundred hospitals. We sincerely look forward to FUSIONTECH’s disruptive products and innovative business model empowering more hospitals in their digital and intelligent transformation, and contributing to the development of China’s new healthcare infrastructure.”

Long Hill Capital is a new generation of theme-driven venture capital funds. In the fields of big health and aging, Long Hill Capital is committed to investing in technology-driven business model innovations, making longevity a gift of life to everyone in China's rapidly aging society. Long Hill Capital has offices in Shanghai and Beijing, and currently manages a total fund size of 6 billion yuan. Its investors include top-tier investment institutions such as endowments from globally renowned universities and hospitals, foundations, pension funds, and leading fund-of-funds. Long Hill Capital is dedicated to continuously creating value for the growth and development of companies in emerging fields.