Shengyuan Minimally Invasive Secures Nearly RMB 1 Billion Series B Funding and Completes Acquisition of F-Care to Accelerate Global Expansion
VCBeat has learned that Shengyuan Minimally Invasive Medical Devices (Nanjing) Co., Ltd. (“Shengyuan Minimally Invasive”) recently completed a Series B financing round of nearly RMB 100 million.This round of financing was led by Juming Venture Capital, with co-investment from Cowin Capital and existing shareholder Yida Capital. Life Capital served as the exclusive financial advisor in this transaction.
Through this round of financing, Shengyuan Micro-Invasive has simultaneously completed the acquisition of the Belgian company F-Care. With this acquisition, the Company will not only integrate F-Care’s R&D personnel to build a global R&D team and deepen product development interactions and collaboration with European enterprises, but also leverage this foundation to further expand its sales network in the European market, providing strong support for its subsequent expansion into overseas markets.
Shengyuan Micro-Invasive was established in 2014. In the same year, the company formally set up its R&D and production base in Nanjing. Leveraging its accumulated expertise in the field of minimally invasive interventions, Shengyuan Micro-Invasive has built an intelligent, precision minimally invasive diagnosis and treatment platform. The company focuses intensively on niche segments such as oncology, vascular diseases, proctology, and robotics, thereby expanding its corporate capabilities by strengthening multi-dimensional competitive barriers. Currently, the company’s product portfolio covers multiple areas, including minimally invasive tumor treatment, minimally invasive vascular procedures, minimally invasive hemorrhoid treatment, and surgical therapies.
Li Ping, CEO of Shengyuan Micro-Invasive, told VCBeat that with trends such as the single-use of consumables and increasing penetration rates of minimally invasive surgical techniques, many innovative minimally invasive surgical instruments led by domestic enterprises have emerged in large numbers, demonstrating significant development potential in the minimally invasive medical market. Whether it is the advancement of surgical robots or the empowerment of AI technology, both are driving disease treatment methods toward being more minimally invasive and precise. As greater attention is now placed on patient prognosis, diseases with high recurrence rates, such as cancer, have provided broad room for growth in the field of minimally invasive intervention. For this reason, Shengyuan Micro-Invasive is currently focusing all its efforts on the minimally invasive intervention sector and strategically positioning related products.
It is reported that since formally launching its independent intellectual property R&D and the translation of internationally advanced medical technologies, the company completed technological innovation and production conversion for a series of products in 2021, including radiofrequency ablation systems, microwave ablation systems, varicose vein treatment systems, and Shengyuan minimally invasive hemorrhoid radiofrequency ablation systems. Multiple products have obtained EU CE certification.
Platform-based technologies have incrementally strengthened the company’s multi-dimensional barriers to entry, expanded the boundaries of its corporate capabilities, and enabled Shengyuan Micro-Invasive to enter the market with a diverse portfolio of products. However, the company’s strengths extend beyond this. Shengyuan Micro-Invasive also boasts many years of experience in distribution and agency operations. This experience has helped it establish a mature professional network, a robust agency and distribution system, and a high-quality project pipeline, thereby enabling the company to rapidly achieve technology introduction, implementation, and commercialization.
Li Ping, CEO of Shengyuan Microinvasive, stated, “For a company to achieve sustained growth over the long term, it requires individuals who are committed to staying the course. In all our relationships, mutual trust and support are indispensable. Shengyuan Microinvasive places great emphasis on our partners, investors, team, and customer base, all of whom hold significant importance in my view. We are fortunate to have received the support and recognition of our partners during this critical stage of the company’s development. Looking ahead, I hope we can continue our journey together for the long haul, and Shengyuan Microinvasive will deliver the due returns and benefits to our partners.”
As the exclusive financial advisor for this round, Sylvia Siu, Managing Director at Life Capital, told VCBeat: “Shengyuan Micro-Invasive has established close relationships with its strategic partners, investors, key clients, and hospital department heads. Throughout Shengyuan Micro-Invasive’s development, all parties have spared no effort in helping the company achieve greater success and reach further heights. Of course, I believe this reflects not only recognition of the company’s capabilities but also trust in its team—a rarity in the industry.”
Targeting the international market, in addition to acquiring F-care, the company’s self-developed radiofrequency ablation needle from Shengyuan Micro-Invasive has obtained CE certification. The company has also signed a distribution agreement with a U.S.-listed company to promote and market the product in Europe during the initial phase. Moving forward, the company will continue to advance its regulatory approval strategy and strengthen collaboration and synergy with its domestic R&D team by controlling existing products and technologies of European companies at the upstream level. Furthermore, the company will accelerate the global deployment of its products by directly exporting domestic product technologies to overseas enterprises.
In fact, the strategic layout across domestic and overseas markets, coupled with the advancement of a diversified product pipeline, will reduce the company’s exposure to policy changes in any single region, thereby enhancing its risk resilience. More importantly, this strategy will help boost revenue and optimize the income structure. Shengyuan Microinvasive’s years of accumulated distribution and agency networks, along with the establishment of an international platform, will undoubtedly accelerate the global expansion of its products while facilitating the successful market entry of its offerings in China.
A company’s sustainable development naturally hinges on the founder’s forward-looking vision and the support of its team.
Chen Zhiming, the helm of Shengyuan Minimally Invasive, has founded multiple companies in Hong Kong and mainland China since 1995, spanning the IT, finance, and healthcare sectors, with successful exits. Furthermore, in the healthcare sector, Chen established Shengyuan Minimally Invasive in 2014, building upon Shengyuan Medical, and set up a production and R&D base for minimally invasive medical products in Nanjing.
Meanwhile, Mr. Chen Zhiming has nearly 20 years of experience in collaborating with overseas enterprises. He has not only successfully secured exclusive distribution rights for multiple internationally leading medical devices from Europe and the United States, but also participated in the establishment of the UK-based company Vodca. In addition, he has acquired equity stakes in several high-tech enterprises in the healthcare sector under favorable terms. Furthermore, to support the future development needs of Shengyuan Medical, Mr. Chen began investing in multiple healthcare-related projects in Europe and the United States starting in 2014. Notably, EMcision was acquired by Boston Scientific in 2018.
It is understood that Chen Zhiming excels at the early identification of promising technologies and projects, while simultaneously establishing robust corporate infrastructure and laying the foundational resource base required for these initiatives.
Li Ping, CEO of Shengyuan Micro-Invasive, excels in overseeing the entire lifecycle from project inception to post-investment management. Throughout the company’s growth, Ms. Li has been personally involved in every aspect of overall operations, including financing, building a compliant market system, marketing, corporate management, team building, and R&D, production, and quality control.
Currently, the core team of Shengyuan Micro-Invasive has been fully established, which will play a key role in the company’s sustained development and sound operations.
Pang Xiubing, Partner at Juming Venture Capital, stated:“Shengyuan Minimally Invasive is committed to building an intelligent and precise minimally invasive diagnosis and treatment platform, with products spanning multiple fields including minimally invasive oncology, minimally invasive vascular procedures, surgical navigation robots, and surgical therapies. The founder, Mr. Chen Zhiming, has a track record of successful serial entrepreneurship. Leveraging his unique global strategic vision, he has achieved resource integration in regions such as the United States and Europe through equity participation and exclusive partnerships. By combining leading global medical technologies with the actual clinical needs in China, the company has introduced these technologies for domestic implementation and continues to develop superior medical products. It has currently completed technological innovation and production conversion for a series of products, including radiofrequency ablation systems, varicose vein treatment systems, and minimally invasive hemorrhoid treatment systems. Multiple products have obtained NMPA and EU CE certifications. Its sales network covers China and is gradually penetrating grassroots hospitals. Through controlling acquisitions and ODM models, the company is steadily establishing overseas R&D centers and sales networks, accelerating its global expansion and further enlarging its international market footprint. Juming Venture Capital aims to support Shengyuan Minimally Invasive in becoming a globally competitive leading enterprise through this round of investment cooperation.”
Heng Lei, Investment Director at Cowin Capital, stated:“It is a great honor to engage with the Shengyuan Minimally Invasive project. Leveraging the team’s years of technical accumulation and in-depth understanding of clinical practice, they have innovatively developed radiofrequency-based solutions for treating varicose veins, hemorrhoids, anal fistulas, and other conditions. Traditional surgical approaches for these procedures entail significant pain points, and the addressable market is substantial. Furthermore, the team possesses extensive experience in market promotion, as well as global development and integration capabilities, which align closely with our criteria for selecting medical device projects. We look forward to Shengyuan Minimally Invasive becoming a leader in the field of minimally invasive therapy.”
As the exclusive financial advisor for this round, Sylvia Siu, Managing Director at Life Capital, stated:“Under the leadership of Mr. Chen, a top-tier corporate investment manager with nearly 20 years of experience in collaborating with overseas enterprises and managing medical investments and M&A, and leveraging a robust product portfolio strategy combining in-house R&D with mergers and acquisitions, Shengyuan Minimally Invasive is poised to become an international platform company with a diverse product lineup. This transformation is expected to accelerate with the completion of the Fcare acquisition, which will expand its commercial footprint and drive rapid growth in revenue and profits.”
Juming Ventures focuses on early-stage venture capital in the life sciences sector. Since its establishment in 2018, it has invested in more than 40 startups spanning innovative drugs, biotechnology, and medical devices (including diagnostics). Rooted in China with a global perspective on unmet clinical needs, Juming Ventures is committed to partnering with outstanding companies, providing comprehensive services, and supporting their growth journey.
Cowin Capital was established on June 26, 2000, as one of the first professional venture capital firms in China. On July 15, 2015, it was successfully listed on the National Equities Exchange and Quotations (NEEQ). With 22 years of investment management experience, the firm has invested in over 600 companies, more than 100 of which have gone public, including 23 listed on the STAR Market. Cowin Capital is a leading domestic professional investment institution with a long operational history and consistently outstanding returns.
Cowin Capital takes industrial chain investment as its entry point, focusing on emerging industries and specializing in four key sectors: healthcare, technology, TMT (Technology, Media, and Telecom), and consumer goods. It maintains a prudent investment strategy, deeply uncovers hidden champions, supports innovation and entrepreneurship, and is fully committed to serving the real economy.
Tongchuang Weiye adheres to the philosophy of being “a companion to startups and a guide for great enterprises,” committed to advancing and growing alongside founders and entrepreneurs with an open mindset, thereby serving as a “super partner” to businesses.
Since its establishment in 2017, Life Capital has adhered to the service philosophy of “Customer Success, Co-creation and Win-Win,” with a deep vertical focus on the life sciences and broader healthcare industries. The firm is committed to leveraging three core investment banking products—private equity financing, mergers and acquisitions and restructuring, and private equity investment—alongside profound industrial value-added services, to cultivate emerging sub-sectors including innovative drugs, biotechnology, medical devices, consumer healthcare, and smart healthcare. To date, it has assisted more than 50 healthcare companies in completing private equity financing, with total transaction value exceeding RMB 30 billion.