Shengnuo Medical Secures Tens of Millions of RMB in Series A Funding from Long Hill Capital to Advance Core Innovations in Medical Imaging Technology

VCBeat has learned that Suzhou Shengnuo Medical Technology Co., Ltd. (“Shengnuo Medical”) recently announced the completion of its tens-of-millions-yuan Series A financing round.This round of financing was exclusively invested by Long Hill Capital, a renowned institution in the healthcare sector, with Qiangyun Capital serving as the exclusive financial advisor to Shengnuo Medical for this financing round.As a medical imaging equipment company with a unique business model and leading technology, Shengnuo Medical stated that the funds raised in this financing round will continue to be used to broaden its product portfolio, intensify customer acquisition efforts, accelerate technological iteration, and strengthen its talent development system.

For years, the primary battlefield of China’s medical imaging equipment market has been dominated by multinational giants such as GE, Philips, and Siemens. However, domestic manufacturers are rapidly expanding their presence in hospitals, leveraging increasingly mature technologies, competitive pricing, and flexible service models, thereby emerging as the biggest beneficiaries of the national initiative to upgrade medical infrastructure. Leading enterprises represented by United Imaging Healthcare and Neusoft have become the dominant players in the domestic medical imaging sector and have either already entered or are in the process of accessing the capital markets. Meanwhile, with the refinement of industrial chain specialization and the segmentation of application scenarios, new differentiated entrepreneurial opportunities are emerging.

Shengnuo Medical is a practitioner of such differentiated opportunities.The company is led by top experts in the fields of CT physical imaging, electronics, software, and mechanics, adopting a modular and platform-based development approach for core components such as detectors.This approach not only significantly reduces the cost of core components but also enables flexible and rapid expansion into a wide range of specific application scenarios, such as nuclear medicine PET/SPECT-CT, radiotherapy surgical localization CT, intraoperative mobile CT, and vehicle-mounted CT.

In terms of business model, Shengnuo Medical has also adopted a strategy different from that of traditional CT system manufacturers.Rather than selling complete systems directly to hospitals, it operates as a supplier, providing core components to numerous downstream manufacturers. This innovative model has established upstream–downstream partnerships with original equipment manufacturers (OEMs), enabling rapid scale-up through their sales channels while maintaining highly stable collaborative relationships.In practical terms, Shengnuo Medical has achieved a 100% customer retention rate, with rapid growth in customer numbers, continuous diversification of customer types, and a swift increase in per-customer purchase volume. It is projected that mature customers will each procure over 100 units annually. This will further generate economies of scale, reduce the production costs of core components, and create a virtuous cycle.

Regarding this financing round, Ren Yi, founder of Shengnuo Medical, stated“Although Shengnuo Medical is still a young company, all members of our core team have over 15–20 years of experience at leading domestic and international medical imaging enterprises, where they held key technical roles and drove the development of core products. It is precisely this foundation that gives us the confidence to embark on independent entrepreneurship, adopting an innovative model characterized by modular and platform-based development of core components, which we supply to downstream clients through a B2B model. Current market feedback indicates that this approach has gained widespread recognition. We are deeply grateful for the trust and support extended by Long Hill Capital, especially given the significant challenges posed by the severe COVID-19 outbreak in Shanghai during our initial negotiations. We believe that, in partnership with Long Hill Capital, our company will further strengthen its capabilities in funding, distribution channels, and brand influence, thereby accelerating onto a fast track of growth.”

As the sole investor in this round of financing, Jiang Xiaodong, Managing Partner of Long Hill Capital, stated“Medical imaging equipment, particularly CT scanners, as a routine diagnostic and therapeutic tool, is increasingly being deployed in primary care hospitals—a clear industry trend. With the acceleration of domestic substitution, there are higher demands for the cost-effectiveness, maintenance efficiency, and multi-scenario adaptability of CT systems. Leveraging nearly two decades of R&D experience in the field, the founding team of Shengnuo Medical has innovatively proposed a modular and decoupled approach to CT development from a technical perspective. In terms of business model, they collaborate closely with established whole-unit manufacturers and distributors that possess existing channel capabilities, offering greater cost-effectiveness and flexibility compared to competitors. Against the backdrop of growing emphasis on the efficiency of healthcare resource investment across China, we expect Shengnuo Medical to promote the construction of China’s new healthcare infrastructure through its high cost-performance products and novel service models, thereby helping to improve access to medical resources for the broad population in China.”

Yan Guopei, project lead at Qiangyun Capital, stated that the firm served as the exclusive financial advisor for this round of financing.“Medical imaging equipment represents a large market; however, the number of listed companies in this sector is significantly lower compared to other fields such as in vitro diagnostics and interventional devices. If United Imaging and Neusoft are considered the leading enterprises, we anticipate the emergence of a series of new companies characterized by innovative business models, unique products, and cutting-edge technologies. These companies will enter the market from various angles and rapidly grow into publicly listed entities. We are highly optimistic about Shengnuo Medical’s solid foundation, built by its engineering team led by Mr. Ren through an average of 15–20 years of experience in the medical imaging field, as well as the favorable position its products have gained through widespread customer recognition. We are honored to have facilitated the collaboration between Shengnuo Medical and Long Hill Capital in this financing round.”

Shengnuo Medical is a leading enterprise focused on technological innovation in the core imaging chain of medical CT scanners (computed tomography equipment). Committed to modular and platform-based innovative product design, the company significantly reduces R&D costs while enhancing R&D efficiency. The core team at Shengnuo Medical boasts extensive industry experience. Founded in Shenyang in 2017, the company relocated its headquarters to Suzhou in 2020. It currently maintains R&D teams and production bases in both Suzhou and Shenyang.

Long Hill Capital is a new generation of theme-driven venture capital fund. In the fields of healthcare and aging, Long Hill Capital is committed to investing in technology-driven business model innovations, making longevity a gift of life for everyone in China's rapidly aging society. Long Hill Capital has offices in Shanghai and Beijing, with total assets under management reaching 6 billion yuan. Its investors include top-tier 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 sectors.