Pubo Technologies Completes Series B Financing of Several Hundred Million RMB to Advance Integrated Solutions for Critical Care Medical Devices

On November 30, 2020, Shenzhen Prunus Medical Technology Co., Ltd. announced the completion of its Series B financing round, raising hundreds of millions of yuan. The round was led by CPE, with participation from China Securities Capital, Yueyin Medical Fund, and Langzi Hanya. The funds raised will be primarily used for the continuous development of Prunus’s product lines, market promotion both domestically and internationally, and the construction of a smart healthcare cloud platform. Bairong Capital served as the exclusive financial advisor for this financing round.

Founded in 2007, SHENZHEN PRUNUS MEDICAL CO., LTD. is a national high-tech enterprise dedicated to the design, R&D, production, and sales of medical devices for emergency and critical care. Its flagship products include high-performance ventilators, anesthesia machines, and color Doppler ultrasound systems. During the pandemic this year, multiple models of its ventilators were deployed to support frontline epidemic prevention and control efforts both domestically and internationally, earning widespread market recognition.

Prunus Medical boasts an excellent R&D team and a panel of expert consultants both domestically and internationally. The company currently holds 15 Class III and 4 Class II medical device registration certificates. Its products are used in over 300 Grade A tertiary hospitals across China and exported to more than 100 countries worldwide. With strong R&D capabilities, the company has secured 18 invention patents, 18 utility model patents, and 34 software copyrights. All product lines have obtained NMPA approval and EU CE certification, and its manufacturing system is certified under the ISO 13485 international quality management standard.

The development of Prunus Medical can be described as a testament to the power of sustained accumulation leading to breakthrough success. After a decade of dedicated focus on research and development and product refinement, the company made its initial foray into the capital market in 2018, securing tens of millions of yuan in investment from Fortune Capital. Adhering to an R&D-centric growth strategy, Prunus Medical has undertaken numerous key national-level projects, established strategic partnerships with many internationally renowned brands, and was recognized by the Guangdong Provincial Department of Science and Technology as the “Guangdong Intelligent Anesthesia Engineering Technology Research Center.” When the pandemic erupted in 2020, all employees of Prunus Medical forgave their Spring Festival holidays, while the factory operated at full capacity around the clock to accelerate production and expedite shipments, sparing no effort to ensure the supply of ventilators. In late April, Prunus Medical received letters of appreciation from the State Council and various Chinese embassies abroad, fully acknowledging the company’s significant contributions during the pandemic. In August, Prunus Medical became a WHO-approved supplier of epidemic prevention materials and began supplying ventilators to the World Health Organization.

The outbreak of the pandemic also ushered in a historic development opportunity for Prunus Medical. While its ventilators were shipped in large volumes domestically, they were also exported to over 100 countries across Europe, Africa, and the Middle East, making outstanding contributions to epidemic prevention and control both at home and abroad. On June 20, 2020, Ms. Lai Chunhong, Chairwoman of Prunus Medical, was invited to appear on the program “Dialogue” on CCTV’s Finance Channel. Together with Neusoft Medical and BGI Genomics, she was featured as one of the “Three Musketeers” of anti-epidemic equipment, sharing insights into the current state and future prospects of China’s medical equipment industry in the wake of the pandemic.

In September 2020, Prunus Medical’s independently developed high-end ventilators, the Padus 8 and Padus 6 series, obtained registration certificates from the National Medical Products Administration (NMPA). Featuring an ultra-low tidal volume as small as 2 mL, this series supports patients across all age groups, including adults, children, and neonates. In addition to offering a variety of control modes, the Padus 8/6 series incorporates Prunus Medical’s proprietary intelligent patient-ventilator synchrony algorithm. This algorithm not only provides essential life support but also enhances patient comfort during respiratory therapy, significantly improving treatment quality. Representing the highest level of domestic ventilator technology, these products place Prunus Medical among the world’s leading ventilator manufacturers.

Following the completion of this round of financing amounting to hundreds of millions of yuan, SHENZHEN PRUNUS MEDICAL CO., LTD. (Prunus Medical) will launch its next five-year plan. Through organic expansion and mergers and acquisitions, Prunus Medical plans to establish multiple sales outlets both domestically and internationally, thereby strengthening its global network layout. The company will intensify its independent R&D efforts and M&A activities to further expand and refine its product portfolio of devices and consumables for emergency and critical care. Meanwhile, the company will fully usher in the era of Prunus Smart Healthcare Cloud, deploying the Prunus Smart Healthcare Cloud Platform and venturing into sectors such as Internet of Medical Things (IoMT) and digital solutions for emergency and critical care. Prunus Medical’s vision is to become a China-based, globally leading provider of comprehensive solutions for operating rooms, ICUs, and emergency care, contributing Chinese strength to the global healthcare cause.

Guo Wei, the project leader at CPE, stated, “Prunus Medical’s corporate vitality and sense of mission demonstrated since the pandemic have extended the lives of countless patients worldwide, which is truly inspiring. Prunus Medical focuses on the research and development of high-end medical devices for acute and critical care, bridging international R&D with Chinese manufacturing. With a comprehensive product portfolio, the company is steadily emerging as one of the leading enterprises in China’s acute and critical care sector. Under the leadership of Chairwoman Ms. Lai Chunhong, who possesses profound understanding and keen insights into the healthcare industry, Prunus Medical has risen to prominence in both the Chinese and global acute and critical care fields, guided by the eight-character motto: ‘Sincerity, Integrity, Investigation, and Wisdom.’”

Xiong Shuirou, Managing Director of Yueyin Medical Fund, stated, “Yueyin Medical Fund is pleased to participate in this round of investment in Prunus Medical. We have observed that high-quality domestically produced medical equipment in China is accelerating the pace of import substitution and expanding globally, with influential companies emerging across various niche segments of the medical device industry. This trend is also expected to continue in the field of critical care. Prunus Medical has established a comprehensive product portfolio in critical care, with its core products sold to nearly 100 countries worldwide. The latest Padus 8/6 series ventilators lead the industry in performance. The company remains committed to developing China’s finest critical care products. We believe that its products and services will save more patients’ lives around the world, which aligns with the investment mission of Yueyin Medical Fund.”

Established in June 2008, CPE is one of China’s leading asset management firms. The company focuses on uncovering domestic and international investment opportunities linked to the growth of China’s national economy, with business scopes covering private equity, mezzanine capital, and securities investments. Adhering to a long-term investment strategy and the core philosophy of “creating value through professionalism,” CPE concentrates on key sectors including healthcare, technology and industry, consumer and internet, software and enterprise services, and real estate. The company is committed to building long-term partnerships with its portfolio companies, supporting their sustainable development while simultaneously driving the overall progress of their respective industries and society at large.

CSC Financial Capital, a wholly-owned subsidiary of China Securities Co., Ltd., specializes in private equity fund management. The firm has initiated and manages 18 comprehensive funds, three industry-specific funds, 16 specialized funds, two funds of funds (FOFs), and ten real estate investment funds, with assets under management (AUM) registered with the Asset Management Association of China (AMAC) exceeding RMB 46 billion. Its investment targets primarily include high-growth enterprises with listing potential and companies with merger and acquisition value within industry consolidation efforts. Sector coverage spans biopharmaceuticals, energy conservation and environmental protection, infrastructure, information technology, culture and media, and high-end equipment manufacturing.

Established in June 2015, the firm is an investment institution dedicated to the healthcare and medical sector. Its team members possess extensive backgrounds in the medical industry and healthcare investment, making it widely recognized as one of the most professional medical investment funds in the industry. Since its inception, the firm has participated in investments in projects such as Yahong Medicine, Guoxin Medicine, Derong Medical, Lu Daopei Healthcare, Huayin Health, Zhiding Medical, Yidianling, Kaipu Imaging, Meiermu Eye Hospital, Daka Fertility Support, Weimai Medical, Jingzhun Medical, Puenrui, Shuchuang Robotics, Ruihua Kangyuan, Zhenluo Technology, Tiankeya Biopharma, Hetian Medical Management, Genetron Health, Yiweixun, and Health界 (Health Circle).

Beijing Langzi Hanya Asset Management Co., Ltd. (ALAN AMC) was established in 2016, with a paid-in registered capital of RMB 1.713 billion. Its shareholders include the listed company Lancy Fashion Group Co., Ltd. (002612.SZ), Hana Bank Co., Ltd. (South Korea), Hana Financial Investment Co., Ltd., and other strategic institutional investors. Equity investment is a key component of ALAN AMC’s focus on alternative investments and its strategy to build a closed-loop business ecosystem across the entire industry chain. In recent years, the company has strategically invested in numerous opportunities within two major sectors: next-generation information technology and big health.

Bairong Capital is a research-driven financial advisory firm focused on the healthcare sector. It aims to accelerate the growth of healthcare enterprises through its extensive transaction experience and provide investment institutions with insights into valuable investment opportunities via rigorous, in-depth research. Bairong Capital’s areas of focus span multiple healthcare sub-sectors, including healthcare services, medical devices and consumables, IVD and precision medicine, biopharmaceuticals, and healthcare informatics. The firm’s core team members all come from top-tier consulting firms and renowned investment banks.