Fushoukang Completes Hundreds of Millions RMB Series B+ Financing Led by Sequoia Capital China, Files for IPO

VCBeat (WeChat: vcbeat) learned at the earliest opportunity,Fushoukang, China’s largest provider of in-home medical care services, recently announced the completion of a B+ funding round amounting to hundreds of millions of yuan, led by Sequoia Capital China. This marks another new infusion of capital following the tens of millions of dollars in investment led by Qiming Venture Partners last December.This round of financing will continue to be used for the nationwide scale-up of Fushoukang’s home-based medical, nursing, and elderly care service system, the construction of an intelligent information middle platform, and the development of innovative service systems.

Currently, China’s population aged 60 and above has exceeded 264 million, creating substantial demand in the elderly care market. However, the effective supply of domestic elderly care infrastructure and services remains significantly inadequate. Coupled with the influence of traditional family-based caregiving norms, these factors have collectively driven the mainstream trend toward community-based home care as the core model for elderly support. Furthermore, with the widespread adoption of mobile internet, penetration rates among the elderly population have risen rapidly, accelerating the development of models such as mobile healthcare and in-home caregiving, thereby laying an informational foundation for the advancement of community-based home care.

As China’s largest home-based medical care service provider, Fushoukang has established a comprehensive ““Medical Nursing Station + Community Care Center + Nursing Home”service network system, with nursing stations as the core radiating to surrounding communities and streets, creating a fully closed-loop service scenario that connects home, community, hospital, and nursing home settings, providing comprehensive medical and nursing care services for the elderly; it is the only one-stop closed-loop service platform in China capable of delivering professional daily care, medical nursing, specialized nursing, special-needs nursing, rehabilitation guidance, and professional dementia care for seniors who are independent, semi-dependent, fully dependent, acutely ill, or living with dementia.

The company has established more than 200 medical nursing stations and care centers across China, with its business network covering 36 core cities nationwide. It provides over 15 million instances of care services annually to nearly 100,000 elderly individuals. InUnder the support of a specialized training system and an informatized management system, customer satisfaction has consistently remained at a high level.

As the first and largest home-based medical care enterprise established in Shanghai to achieve a nationwide footprint, Fushoukang has successfully refined its comprehensive in-home care service model through years of dedicated market cultivation, leveraging long-term care insurance (LTCI) services as a key driver. With the rapid expansion of national LTCI pilot cities, an increasing portion of the population across China has been included in the LTCI service system. This has enabled Fushoukang to swiftly replicate its successful Shanghai-based experience nationwide, thereby establishing a strong brand reputation among customers.

Since 2020, Fushoukang has further accelerated its digital and intelligent transformation, establishing a “Smart Care” operational model. By independently developing an elderly care information interaction system and building a comprehensive health data middle platform tailored to the senior population, and by integrating smart devices, a care management CRM, and an intelligent training system, the company deeply responds to and uncovers the needs of the elderly, providing them with high-quality, convenient, one-stop medical, nursing, and wellness services.

Meanwhile, Fushoukang will continue to collaborate with more domestic and international partners, joining hands with upstream and downstream allies to deliver industry-leading health and elderly care services and solutions that rival global best practices.

Through its smart care system, Fushoukang has successfully established a precise customer acquisition channel and built a multi-dimensional value-added service ecosystem. In addition to long-term care insurance services, Fushoukang offers over 50 personalized commercial value-added services tailored to the comprehensive care needs of the elderly, including 24-hour in-home care, round-the-clock companionship, nursing services, in-home assisted bathing, assistive device rental, and age-friendly home modifications. The proportion of commercial services within the company’s business structure continues to rise, increasingly becoming the second growth driver for the company’s development.

Regarding the successful completion of this round of financing, Zhang Jun, founder of Fushoukang, stated:“After ten years of entrepreneurial development, Fushoukang has established its own comprehensive and refined professional service system. Leveraging this system, along with our team of 6,000 well-trained and experienced professional medical caregivers, and the increasingly mature and effective digital and intelligent platform infrastructure, Fushoukang has rapidly achieved a leading position in nationwide expansion and service reputation, building on its initial advantage in Shanghai. We are committed to driving the continuous development of China’s home-based medical care industry, delivering convenient and high-quality services to hundreds of millions of elderly Chinese citizens. We are delighted to see that a growing number of elderly people in China’s second-, third-, and fourth-tier cities are now able to enjoy the same high-quality home care services as those in Shanghai and Beijing, thereby leading better lives in their later years. We thank Sequoia Capital for its recognition of Fushoukang. We remain fully committed to our mission and will continue our relentless efforts to make greater contributions to addressing aging in China.”

As the lead investor in this round, Zhou Kui, Partner at Sequoia Capital China, stated:“The advent of an aging society in China is bound to generate massive demand for medical care. Leveraging a decade of accumulated expertise, Fushoukang has been deeply engaged in the home- and community-based sector—the most critical market in the elderly care industry—while building significant competitive advantages in medical care capabilities, professional nursing training, and information technology. We recognize Fushoukang’s industry position as a leader in home-based medical care in China and endorse its corporate goal of becoming the preferred provider of elderly care services for the silver-haired population. We are committed to offering our support.”