Hocer Medical Secures Over RMB 1 Billion in Series C Funding Led by Hillhouse Ventures, with HyChina Capital as Exclusive Financial Advisor

Hocer (Beijing) Medical Technologies Co., Ltd. (“Hocer Medical”), a Beijing-based provider of minimally invasive surgical solutions, recently announced the completion of its Series C financing round, raising over RMB 100 million. The round was led by GL Ventures, with participation from Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.). Joy Capital served as the exclusive financial advisor. The proceeds will accelerate Hocer Medical’s development and translational application of technologies in the field of minimally invasive surgery, advance the construction of its sales channels and overseas marketing network, and further expand production capacity.

As minimally invasive surgery gradually penetrates the domestic market, demand for minimally invasive surgical instruments is increasing. Prospectuses of multiple listed companies show that the market size of minimally invasive surgical instruments in China exceeded RMB 18 billion in 2019 and is expected to reach RMB 40 billion five years later. However, due to high technical barriers and patent blockades, overseas giants represented by Johnson & Johnson and Medtronic have long occupied more than 80% of the market share in this field. With trends such as the single-use of consumables and increased penetration rate of minimally invasive procedures, there is an urgent need for high-quality domestically produced products in the market.

Hocer Medical is a leading domestic brand in minimally invasive surgery, particularly possessing comprehensive capabilities in product development, iteration, and manufacturing within the field of energy-based surgical devices. Since its establishment, the company has progressed through stages of technological accumulation and clinical translation. It now boasts a domestically leading ultrasonic cutting and hemostasis system, which includes two generations of ultrasonic generator units and multiple series of ultrasonic transducers—such as USE, USS, and MIC—tailored to various medical departments and indications. The quality and technology of Hocer’s products have been validated by hundreds of large-scale hospitals in China, and the company has served over one hundred hospitals worldwide, including those in Europe and North America.

Shi Wenyong, Chairman of Hocer MedicalHe stated that since its establishment, Hocer Medical has adhered to the philosophy of “Benevolence in Medicine, Expertise in Technique,” deeply cultivating the field of minimally invasive surgery and always committing itself to developing high-quality, domestically produced products that reassure both doctors and patients. Currently, the company has entered the surgical robotics sector by supplying supporting energy-based surgical instruments and integrated surgical energy platform products to leading domestic manufacturers of surgical robots, further demonstrating its determination to continuously raise barriers to entry in the field of minimally invasive surgery. We are honored to welcome GL Ventures and Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.) as investors in this round. I believe that with the support of all shareholders, Hocer Medical will continue to accelerate its development. We also extend our gratitude to the Hygeia Capital team, the exclusive financial advisor for this financing round, whose professionalism has been widely recognized.

Yi Nuoqing, Co-Chief Investment Officer of Hillhouse Capital and Head of Biopharmaceuticals and Medical Devices at Hillhouse VenturesIt was stated that with the increasing prevalence of minimally invasive surgery, surgical energy products represented by ultrasonic scalpels are experiencing rapid growth and broad application prospects in China. Since its inception, Hocer Medical has remained focused on ultrasonic scalpels, accumulating a robust R&D foundation and establishing an experienced commercialization team. The company is currently prioritizing the development of ultrasonic scalpels specifically designed for surgical robots, which represents the integration of energy-based surgery with surgical robotics and embodies the trend toward greater precision and intelligence in minimally invasive surgery. We look forward to a long-term partnership with Hocer Medical to support its accelerated rise in the field of surgical energy products, advance the R&D and introduction of future products, and continuously provide doctors and patients with more excellent and innovative solutions.

Dr. Wang Lin, Partner at Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.)Hocer, as a leading enterprise in the domestic ultrasonic scalpel technology platform, possesses strong competitiveness in both technological accumulation and industrialization. The market for minimally invasive surgical ultrasonic scalpels is undergoing two major shifts: first, a transition from reusable to single-use devices, and second, the substitution of imported products with domestically produced ones. These trends will drive rapid growth in market size and reshape the competitive landscape, presenting a critical window of opportunity that leading domestic manufacturers must seize. Our investment in Hocer aligns closely with New Deepened’s trend-based investment methodology. We are delighted to participate in this financing round and believe that under the leadership of Dr. Shi Wenyong, Hocer Medical will achieve diversified product success, establishing a strong foothold in China while expanding globally.

Yang Zhenjun, Partner at Haoyue CapitalHe expressed his delight at the successful completion of Hocer Medical’s Series C financing round, marking a strong partnership with this leader in minimally invasive surgical energy platforms. The combination of active devices and consumables has always been a high-barrier segment within the medical device industry. Stable ultrasonic scalpel generators and compatible consumables are essential tools for minimally invasive surgeries. Through our collaboration with Hocer, we have deeply appreciated the team’s tremendous efforts and contributions to delivering superior product performance for surgeons and offering cost-effective solutions for patients. During this financing process, which coincided with the COVID-19 pandemic, heightened infection prevention and control requirements accelerated the adoption of disposable ultrasonic scalpels. We have also witnessed Hocer achieve significant milestones, including regulatory approval for its next-generation products and successful bids in volume-based procurement programs across multiple provinces. We wish the company continued success in achieving leapfrog growth by leveraging capital strength.

GL Ventures is the venture capital fund under Hillhouse Capital that focuses on early-stage innovative companies. It primarily invests in four key sectors: biopharmaceuticals and medical devices, software and hard tech, consumer internet and technology, and emerging consumer brands and services. Biopharmaceuticals and medical devices have long been a core investment focus for Hillhouse. Over the past decade, Hillhouse has invested in more than 200 outstanding companies in the fields of biopharmaceuticals, medical devices, and healthcare services. We aim to partner with enterprises as “friends of time,” jointly driving innovation and development in the broader healthcare sector to benefit more patients.

Neovision Capital is a professional institution specializing in venture capital, innovation-driven investments, and mergers and acquisitions in the healthcare and high-tech sectors. Since its establishment in late 2015, it has invested in multiple high-growth enterprises in the biopharmaceutical and high-tech fields. Representative portfolio companies in the biopharmaceutical sector include Shuoshi Biotech (688399), Rendu Biotechnology, Jiangeng Pharmaceutical, Zhengya Dental, Allist Pharmaceuticals, Bioproximity, Yimai Yangguang, Hualan Shares, and Newreat Medical.

Haoyue Capital, founded in January 2014, is committed to serving as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including biopharmaceuticals, innovative medical devices, in vitro diagnostics (IVD) and precision medicine, healthcare services, and smart healthcare. The Haoyue Capital team comprises senior investment bankers with extensive experience in China’s healthcare sector. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment newsletters and thematic research reports, offering Haoyue’s perspectives on new policies and emerging frontiers.