Bang'er Orthopedic Hospital Group Secures RMB 300 Million in Series D Funding Ahead of IPO

VCBeat (WeChat: vcbeat) has learned that in January 2021, Banger Orthopedic Hospital Group Co., Ltd. completed its Series D financing round, securing nearly RMB 300 million in investment from Fortune Capital and Cenova Capital.

Since 2014, Banger Orthopedic Hospital Group has secured three rounds of financing from institutions including Sidoo Capital, Jinpu Industrial Investment, and Qiming Venture Partners. The effective integration of capital with Banger Orthopedics has propelled the company’s rapid growth. Currently, the group holds controlling interests in and operates 14 chain hospitals. By the end of 2020, it had developed into a large-scale specialized orthopedic hospital group with more than 4,000 available beds and an annual surgical volume exceeding 20,000 procedures.

Cheng Dong, Founder and Chairman of Banger Orthopedic Hospital Group, stated that the company’s three previous rounds of financing had propelled its rapid growth. Establishing its base in Zhejiang Province and expanding into high-potential cities across China, the group has become one of the largest, most capable, and well-regarded private orthopedic hospital groups in the country. With the successful completion of its Series D funding round, Banger Orthopedic will leverage capital support to gradually realize its vision: “to focus on the essence of healthcare, bring leading orthopedic technologies and high-quality services to the general public, and become a global chain brand of orthopedic hospitals.”

Fortune Capital, established over 20 years ago, has grown into one of China’s leading private equity firms, ranking among the top in terms of assets under management, investment capabilities, and industry standing. It has helped more than 110 of its portfolio companies go public. Healthcare is a key investment focus for Fortune Capital, with specialized medical chain services being a particularly strategic sector. The firm has also invested in various consumer-oriented healthcare service chains, including China’s largest pet hospital chain, dental clinic chains, home-based elderly care chains, third-party independent imaging centers, and medical aesthetics chains. Additionally, Fortune Capital’s affiliate, Fortune Caixin (under Fortune Venture Capital), invested in Aier Eye Hospital in 2007, becoming the sole strategic investor introduced prior to the hospital’s IPO in 2009.

Cenova Capital, focusing on venture capital and private equity investment in the life sciences and healthcare industries, is one of China’s earliest specialized healthcare investment funds. It is dedicated to promoting the transformation, upgrading, and innovation of China’s healthcare industry. Cenova Capital currently manages five healthcare industry funds, with investors comprising renowned international and domestic institutional investors, including Asian sovereign wealth funds, government agencies, domestic and foreign insurance and financial institutions, and multinational corporations. The firm has invested in numerous leading enterprises in the healthcare and life sciences sectors.