Beaucare Clinics Secures Hundreds of Millions in Series D Funding Led by DACM Capital

VCBeat (WeChat ID: Vcbeat) has learned that United Rieger (Beijing) Medical Beauty Investment Chain Co., Ltd. (“United Rieger”), a leading chain of medical aesthetics institutions, recently secured Series D financing, with Fortune Capital making an exclusive investment of hundreds of millions of yuan. Following this round of financing, United Rieger will further consolidate its leading position, explore innovative business models, drive the development of the beauty economy, and better contribute to China’s domestic economic circulation.

United Rieger was founded in November 2012 and is headquartered in Beijing. It is an international chain enterprise group specializing in the investment and management of high-end international medical aesthetics. Adhering to the core development philosophy of "Respecting Doctors, Returning to Medical Essentials," United Rieger has become one of China's leading investment and operational platforms supporting physicians in launching their own ventures within the medical aesthetics industry. By adopting internationally recognized business models and partnering with distinguished experts in the field, the company jointly invests in and establishes medical aesthetics institutions. Leveraging elite teams of physicians, United Rieger strives to provide high-quality, safe, and premium medical aesthetic services to tens of millions of beauty-seeking consumers across China.

United Rieger is one of China’s earliest medical aesthetics investment chain brands to support physicians in launching their own practices. Adopting a “physician brand + group brand” strategy, it had jointly invested in, operated, and was preparing more than 50 medical aesthetics institutions across over 10 cities nationwide as of March 2021, including first-tier and provincial capital cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chongqing, Dalian, Nanjing, Hangzhou, and Wuhan.

United Rieger operates flagship hospitals in major cities, standard outpatient clinics, and specialized boutique clinics. Each facility is staffed with high-quality medical service teams and equipped with advanced medical devices to ensure the safety and premium quality of its aesthetic medicine services. The range of services covers various fields, including plastic and reconstructive surgery, injectable minimally invasive procedures, laser dermatology, body contouring, cosmetic dentistry, and ophthalmology.

United Rieger Assumes Social Responsibility. On June 15, 2017, United Rieger Group initiated and established the Lige Charity Foundation’s public welfare medical assistance platform, providing aid to children suffering from congenital surface body defects such as microtia, cleft lip and palate, and polydactyly. On February 5, 2021, the China Children's Charity Federation (CCCF) and the Lige Charity Foundation formally established a partnership and launched the “CCCF-Lige Age-18 Special Fund,” which provides sequential treatment for children with congenital surface body defects until they reach the age of 18.

Mr. Li Bin is a pioneer and leading figure in China’s medical aesthetics industry. Having entered the field in 1997, he has witnessed and participated in the industry’s development over the past 26 years. With extensive medical resources and rich operational management experience, he enjoys a stellar reputation among both physicians and industry professionals.

As early as 2003, Mr. Li Bin orchestrated the “Artificial Beauty Hao Lulu” incident, propelling the medical aesthetics industry onto a fast track of development. Mr. Li Bin achieved numerous firsts in the field of medical aesthetics: he introduced China’s first intense pulsed light (IPL) skin rejuvenation device; partnered with the Yanran Angel Foundation to assist children with cleft lip and palate; collaborated with the Chinese Association of Plastics and Aesthetics to pioneer China’s medical aesthetic insurance system; and took the lead in establishing the industry’s first physician group, the “United Rieger Physician Group.”

Recently, under the strategic planning of Mr. Li Bin, United Rieger Group partnered with So-Young to jointly invest in and establish China’s first shared medical platform for aesthetic medicine—United Rieger No. 2 Medical Beauty Hospital. Concurrently, they launched the online consultation platform “Mei Dafu,” adopting a future-oriented internet hospital model that integrates online appointment scheduling with offline diagnosis and treatment, thereby providing physicians with a streamlined pathway to entrepreneurial independence.

Mr. Li Bin also served as the editor-in-chief of three book series that systematically elucidate the operations, marketing, and management of the medical aesthetics industry, which have been regarded as the gold standard by practitioners. Mr. Li has remained prolific in his writing; his personal WeChat official account, “Lige Li Bin,” has been continuously updated with over 360 articles published to date. Covering a wide range of topics from industry development trends to anecdotes about industry luminaries, he leverages his influence to advocate for and give voice to the sector.

Under the leadership of Professor Cao, United Rieger has assembled a large group of top Chinese medical aesthetics experts, including Professor Zhao Xiaozhong, Professor Zhou Zhanchao, Professor Zheng Quan, and Dr. Xu Xiaoke, who are luminaries in the field of laser dermatology in China; facial rejuvenation experts Professor Yang Daping and Professor Wang Jigeng; as well as Professor Liu Chunming and Dean Hong Seong-beom (South Korea), who are experts in international facial contouring surgery.

Fortune Capital, established on April 19, 2000, and headquartered in Shenzhen, is one of the first domestic venture capital firms in China to operate under market-oriented mechanisms. It serves as a vice-chairman unit of several professional associations, including the Equity and Venture Capital Professional Committee of the Investment Association of China, the Asset Management Association of China (AMAC) [Note: Typically translated as China Private Equity and Venture Capital Association], the Shenzhen Private Equity Industry Association, the Shenzhen Venture Capital Association, the Shenzhen Investment Fund Association, and the Shenzhen Entrepreneurs Federation.

In various comprehensive rankings conducted by authoritative industry rating agencies and mainstream media, Fortune Capital has consistently ranked among the top for many years. From 2001 to 2020, the company was consecutively named one of the “Top 50 Best Venture Capital Firms in China” by Zero2IPO Group, a leading industry rating agency, for 20 consecutive years. It ranked first nationwide in 2012 and 2015, and has remained among the top three domestic venture capital firms over the past decade. The firm was honored with the titles of “Best Venture Capital Firm in China” in 2012 and 2015, as well as “Best Exit Venture Capital Firm in China” in 2009, 2012, and 2015. In the 2020 evaluation of private equity fund managers invested by insurance funds conducted by the Insurance Asset Management Association of China, Fortune Capital was rated as an outstanding (Class A) institution.

As of now, Fortune Capital manages 25 funds with a total assets under management (AUM) of RMB 35 billion. It has invested in over 570 companies, successfully exited from 204 portfolio companies, among which 112 have gone public and 92 have exited through mergers and acquisitions or share buybacks. A cumulative total of 93 portfolio companies have been listed on the National Equities Exchange and Quotations (NEEQ). Representative investment cases in the healthcare sector include Aier Eye Hospital (300015.SZ), CanSino Biologics (688185.SH), and Ruipeng Pet Healthcare.

Top venture capital firms and leading medical aesthetics chains announce a major partnership, with both sides sharing their visions.

Mr. Li Bin, Founder and Chairman of United Rieger, stated: “We appreciate Fortune Capital’s trust in United Rieger. We believe that the physician-entrepreneurship model is one with a promising future, and that returning to the essence of medical care represents the future of consumer healthcare. We hope our efforts will bring a brighter tomorrow for our investors.”

Mr. Qi Shen, Managing Partner at Fortune Capital, stated: “Medical aesthetics is the fastest-growing segment within the healthcare services industry, and we are optimistic about its substantial market potential. Led by the industry’s strongest management and medical teams, United Rieger boasts prominent medical branding and high-quality standards. We firmly believe that United Rieger will become a leading enterprise in standardized operations within China’s medical aesthetics industry, jointly contributing to the public’s pursuit of beauty.”