Kunya Medical Completes CNY 100 Million Series C Funding Round Led by Haier Healthcare, with HAOYUE CAPITAL as Exclusive Financial Advisor

Recently, Shanghai Kunya Medical Co., Ltd. (hereinafter referred to as “Kunya Medical”) announced the completion of its C-round financing amounting to hundreds of millions of yuan. This round was led by Haier Healthcare, with Oriental Jiafu as a co-investor. Junlian Capital, an investor from the previous B round, continued to increase its investment. Hopu Capital served as the exclusive financial advisor for this financing round.

Shanghai Kunya Medical Co.,Ltd. was established in 2009 and has been dedicated for the past decade to providing third-party equipment maintenance solutions for healthcare institutions, encompassing comprehensive medical equipment management, departmental equipment management, and individual equipment maintenance. Comprehensive medical equipment maintenance services help healthcare institutions reduce equipment maintenance costs, improve utilization rates, and extend service life, thereby promoting overall cost reduction and efficiency enhancement for hospitals. Currently, leveraging its medical equipment asset management system, quality control, preventive maintenance, on-site service centers, and accreditation support, Shanghai Kunya Medical Co.,Ltd. has provided specialized and standardized full-lifecycle medical equipment management solutions to over 600 hospitals.

Through years of practical accumulation and innovation, Kunya is leading the hospital equipment maintenance industry in its transition from a labor-intensive model toward digitalization, remote operations, intelligence, and precision. The company has successfully developed its own intelligent management platform for hospital equipment, shifting equipment services from reactive repairs to proactive maintenance. Recently upgraded to version 2.0, the platform has been deployed in over 200 medical institutions, effectively reducing equipment failure rates, lowering hospital maintenance costs, and shortening repair cycles.

As the “new healthcare infrastructure” initiative advances, the demands and complexity of hospital equipment management continue to rise. It is expected that an increasing number of hospitals will shift from a standalone equipment repair model toward comprehensive equipment solutions in partnership with third-party providers. In the realm of hospital-wide equipment management, Kunya has already emerged as the leading brand in China, having accumulated experience in providing full-hospital equipment managed services for nearly 100 institutions. Its gradually established talent training system, sophisticated supply chain network, refined management platform, continuously evolving maintenance capabilities, and strong user reputation collectively constitute the competitive moat that will enable Shanghai Kunya Medical Co., Ltd. to sustain its industry-leading position in the future.

The scale of hospital equipment has gradually increased to its current volume of over 10,000 units, covering nearly all clinical departments. The original hospital management methods have exceeded the management capacity of the Equipment Department. Large hospitals, benefiting from abundant resources and their advantageous location in central cities, can receive timely responses from suppliers. However, the needs of ordinary tertiary and secondary hospitals remain unmet, leading to delays in clinical diagnosis and treatment processes, and even medical accidents.

Following years of market education, hospitals have come to accept third-party medical device maintenance providers with substantial scale and service quality as equipment managers, thereby continuously fostering growing demand for large-scale maintenance services:

As clients and companies enhance their service capabilities, the industry is evolving from single-instance repairs to multi-device maintenance, and further to comprehensive hospital-wide equipment management. Hospitals are increasingly inclined to entrust the maintenance of all their medical devices to third-party providers with robust service capabilities. The growing demands for daily equipment management, operational efficiency improvement, large-scale equipment monitoring, and data-driven analysis necessitate a new generation of scaled service providers with strong service competencies.

Mr. Xu Renxiang, the company’s founder, stated that China’s healthcare services are transitioning from “informatization” to “intelligentization.” Intelligent healthcare holds positive significance for improving medical quality and efficiency, optimizing the allocation of regional medical resources, and enhancing patients’ healthcare experience. The development of intelligent hospitals serves as a key engine for the high-quality growth of healthcare services and is a barometer for continuously increasing public satisfaction. Leveraging Kunya Medical’s outsourced equipment service model for smart hospitals, the company has launched the IMES Yiweijia Equipment Management Platform. Through intelligent upgrades integrating “equipment + internet + visualization + data analytics + terminals,” the platform makes intelligent healthcare management processes more convenient, services more efficient, and management more refined.

Wu Min, Head of Medical Investment at Haier Healthcare, stated that Haier Healthcare is highly optimistic about the market for IoT-based management of medical equipment. There is significant room for optimization in this sector, given its inherent maintenance practices and fragmented competitive landscape. Shanghai Kunya Medical Co., Ltd. is disrupting the existing market and industry structure through an IoT-enabled management model. By shifting from traditional reactive maintenance to proactive, technology-driven preventive care, the company has transformed conventional equipment management practices, thereby ensuring higher-quality operations for clinical departments. We believe that Shanghai Kunya Medical will set the service standards for the healthcare IoT management industry in the future.

Xu Xiao, Founding Partner of Orient Fortune, stated that Orient Fortune has consistently kept a close watch on innovative developments in the technology sector and the transformation and upgrading of traditional industries, with deep strategic investments in emerging sectors such as the digital economy, advanced manufacturing and new materials, and healthcare. As the combined effects of national healthcare insurance policies continue to take hold, digital transformation and refined management have become essential pathways for the high-quality development of hospitals. The Kunya team, led by Mr. Xu, has provided innovative, one-stop, full-lifecycle digital management services for the medical equipment management industry. We believe the company is well-positioned to thrive amid the growing trend of outsourcing non-core hospital functions.

Zhou Quan, Managing Director at Legend Capital, stated that since partnering with Kunya Medical in 2017, Legend Capital has been pleased to witness Kunya Medical consistently remaining at the forefront of leading the development of comprehensive hospital equipment solutions. The decision to make additional investments in this round further demonstrates strong recognition of Kunya Medical’s achievements in the field of whole-hospital managed services, and reflects continued optimism about the company’s future growth. Over the past few years, under the leadership of Founder Mr. Xu, the team has made concerted efforts to expand into new businesses and markets, demonstrating forward-thinking innovation and robust execution capabilities. We believe that going forward, the company will continue to align with trends such as new healthcare infrastructure development and intelligent equipment management, thereby continuing to lead industry development and upgrading.

Haoyue Capital stated that third-party hospital services, beginning with laboratory testing and logistics support, have already given rise to publicly listed companies on a global scale. We firmly believe that hospital equipment management will be the next blue-ocean market, potentially leading to the emergence of even larger, high-quality enterprises through consolidation. As import substitution and domestic production expand, the scale of hospital assets will continue to grow, and professional companies will ultimately dominate hospital equipment management.

Haier Healthcare, established in 2016, is a co-creation platform for the broader health ecosystem, centered on the core philosophy of integrating medical providers and patients. As a key vehicle for Yingkang Doctor’s broader health strategy, Haier Healthcare has internalized the “RenDanHeYi” model into “Doctor-Patient Unity,” continuously iterating user experience around patient needs. It has currently deployed dozens of hospitals across China, providing service capacity with over 8,000 beds, serving one million customers annually, and establishing four major care scenarios: critical care rehabilitation, comprehensive oncology treatment, elderly care, and home health management.

Dongfang Jiafu was established in 2016 as a mixed-ownership asset management platform under Zhejiang Orient Financial Holdings Group Co., Ltd. (600120.SH), operating on market-oriented principles with professionalized management. Adhering to the philosophy of “discovering value through investment and research, and creating value through post-investment support,” the company’s management team closely monitors innovative developments in the technology sector and the transformation and upgrading of traditional industries. It has made strategic investments in emerging industries such as the digital economy, advanced manufacturing and new materials, and healthcare. Staying true to its original mission of “implementing the financial holding strategy and serving innovation in the real economy,” Dongfang Jiafu has experienced robust business growth in recent years. Its cumulative assets under management exceed RMB 10 billion, with investments in high-quality enterprises including Arcvideo Technology, Chervon Auto, Ronbay Technology, and Cambricon Technologies.

Haoyue Capital was founded in January 2014, with a commitment to serving as a bridge between China’s healthcare sector and capital markets. Its research coverage and transaction scope span multiple sub-sectors, including biopharmaceuticals, innovative medical devices, IVD and precision medicine, healthcare services, and smart healthcare. The Haoyue Capital team comprises seasoned investment bankers with extensive experience in China’s healthcare industry. By closely monitoring market dynamics and investment trends in the healthcare sector over the long term, the firm releases weekly healthcare investment updates and thematic research reports, offering Haoyue’s perspectives on new policies and emerging frontiers.