Youjia Health Secures Tens of Millions of RMB in Series A+ Funding to Advance Mid-Tier Health Insurance Innovation and Risk Management Platform

On July 27, VCBeat (WeChat ID: vcbeat) learned that Youjia Health Insurance Health Technology (Beijing) Co., Ltd. (hereinafter referred to as “Youjia Health”) announced the completion of an A+ round financing amounting to tens of millions of RMB. This round of financing was jointly invested by Dongfang Hongtai Capital and PINS Medical. The funds raised will be used to further consolidate its industry-leading, nationwide preferred collaborative medical network, build a data-driven innovation platform for healthcare products, and enhance professional risk control and management capabilities in health insurance.

It is reported that UJia Health received angel investment from Legend Star and Series A funding from Joy Capital within two years of its establishment.

Founded in July 2017, UJia Health has capitalized on the rapid growth of commercial health insurance by leveraging a curated medical network to connect healthcare providers, insurers, and users. The company provides direct billing and risk control management services for commercial health insurance and its policyholders. Operating on an S2B2C model, UJia Health has continuously expanded its team and client base alongside the large-scale development of its medical network and the enhancement of its system capabilities.

To date, Youjia Health has gradually established six major online and offline medical networks covering China, providing platform-based services for risk control management and product innovation to commercial insurers (to B), and offering full-lifecycle health management services to individual users (to C). Its clients include nearly 100 medium-to-large insurance companies and internet platforms, with its services reaching over 10 million end-users. It holds a leading position in the niche market of direct billing and medical services for mid-tier health insurance, represented by million-yuan medical insurance products.

Regarding the details of this round of financing, VCBeat (WeChat ID: vcbeat) conducted an exclusive interview with the founding team of UPlus Health, analyzing from multiple perspectives the reasons why UPlus Health continues to attract strong investor interest.

Since 2020, under the impact of the COVID-19 pandemic, public health awareness has significantly improved, and greater attention has been paid to health risks. Where there are risks, there is insurance. In terms of market size, the health insurance industry has demonstrated robust growth momentum in recent years. Data from the China Banking and Insurance Regulatory Commission (CBIRC) shows that in the first quarter of 2020, the health insurance business achieved original premium income of RMB 264.1 billion, a year-on-year increase of 21.6%. Moreover, looking at the statistical data over the past five years, the compound annual growth rate (CAGR) of health insurance has been approximately 30%.

According to Wang Yanping, founder of Youjia Health, the core of health insurance lies in medical and healthcare services, followed by coverage, as well as innovation, service, and risk control in health insurance products. The crux of its profitability model is whether it can establish a customer-centric medical network service system and risk management framework, thereby enabling continuous product innovation under controlled risk conditions.

Specifically, Youjia Health operates a collaborative medical network platform that intelligently connects insurance, healthcare, and customers based on the supply chain empowerment (S2B2C) model. By organically integrating online data intelligence with offline medical network service capabilities through its intelligent cloud platform, Youjia Health provides professional services such as health insurance product design, medical network access, health management, and risk control to insurance companies and enterprises. For individual customers, it offers specialized services including intelligent triage, chronic disease management, medical appointment coordination, direct billing for hospitalization expenses, and post-discharge continuing care.

“The high potential and rapid growth of health insurance have attracted more insurers to enter this sector. UPlus Health aims to become the most professional and reliable partner for insurance companies,” said Wang Yanping. Following the new round of financing, UPlus Health will continue to deepen its cultivation of the medical provider network on the supply side, optimize supply-side resources, and consistently provide insurers with customized healthcare solutions, product innovation, and risk management services. This will enable insurers to continuously offer health insurance products tailored to specific diseases, populations, regions, and scenarios for the middle-class demographic within their existing product portfolios.

Ding Haochuan, co-founder of Youjia Health, told VCBeat that customer demand for health insurance is by no means one-size-fits-all. The ability to provide tailored medical healthcare and risk management solutions based on the characteristics of different customer channels and their diverse needs—delivering precise, scenario-based, high-value services that users feel are “needed” rather than “marketed” to them, thereby achieving personalization at scale—is undoubtedly the direction for innovation in health insurance products.

Therefore, Youjia Health will further strengthen its technology and data teams, accelerate the establishment of scenario recognition, tagging systems, and recommendation engines on both the supply and demand sides, to achieve precise supply-demand matching empowerment. This will meet the needs of insurance companies and channels for differentiated product customization, as well as users' personalized medical and health service requirements.

Regarding the investment in Youjia Health, Wang Hongwei, Partner at Oriental Hongtai Capital, stated, “First, from an industry perspective, demand-side, supply-side, and policy-driven factors are fueling the robust growth of China’s health insurance sector and its derivative managed care services. Second, from a corporate value standpoint, after less than three years of efficient operations and rapid iteration, the Youjia team has successfully established a fundamental business loop connecting healthcare and insurance, and is now rapidly upgrading toward higher-dimensional platform value.”

Furthermore, from an operational metrics perspective, UPlus Health has maintained exponential growth—ranging from multiple-fold to tens of fold—in key areas such as operating revenue, the number of covered hospitals, the number of partnered insurance institutions, and the number of engaged doctors and nurses, demonstrating significant growth potential and improved profitability. Finally, the founder and core team of UPlus possess a unique blend of expertise in health insurance, healthcare, and internet technology. They boast industry-leading and verifiable track records, with their current entrepreneurial endeavors showing strong continuity with their past experiences. Specifically, they have been consistently dedicated to building an online-to-offline (O2O) collaborative medical network, and leveraging this foundation to develop commercial health insurance products and provide risk control empowerment. Based on these assessments, we are optimistic about the mid-to-long-term value of UPlus Health’s team and platform model in innovating and empowering the health insurance ecosystem, as well as its value in enabling managed care through data-driven, individualized, full-lifecycle health management.

Li Chong, General Manager of PINS Medical Equipment Co., Ltd., stated that commercial health insurance, as a supplement to social medical insurance, is an important component of the healthcare security system. In developed countries, both products and services in this sector are highly mature and diverse. Although China’s commercial medical insurance has experienced rapid development in recent years, it remains in a transitional phase from offering basic functional products to providing comprehensive services.

Youjia Health is undoubtedly a pioneer among commercial health insurance service providers in China. It has achieved remarkable results in various aspects, including service models, network development, and customer acquisition. By delivering valuable services to patients, hospitals, and commercial insurance companies, Youjia Health empowers the commercial health insurance sector, thereby fulfilling its social value as a corporate citizen within the healthcare security system. As a representative enterprise of China’s high-end medical device industry, PINS Medical not only safeguards health with internationally advanced medical technologies but also provides technology-driven medical services. The investment in Youjia Health highly aligns with PINS Medical’s corporate value of “loving others as oneself” and will facilitate the exploration and creation of innovative service models in the future, contributing to the development of China’s healthcare cause.

Since its establishment in September 2014, Oriental Hongtai Capital has launched and managed five RMB-denominated funds, with a total fund size of approximately RMB 9 billion and a total investment volume reaching RMB 15 billion. It has grown into a leading investment institution in China with considerable international recognition. Oriental Hongtai Capital has successively acquired several industry-leading projects both domestically and overseas, and invested in numerous high-quality projects with strong growth potential in niche sectors. Its M&A portfolio includes Shanda Games, DianDian Interactive, CMGE, AppLovin, and MediaPro. In terms of niche sector investments, Oriental Hongtai Capital has positioned itself in companies such as Pinsi Medical, CareConnex, Excellims, Pony.ai, and Supermonkey.

PINS Medical, founded in 2008, has grown into a globally leading and China’s foremost provider of neuromodulation system solutions. The company’s main commercial products include: Deep Brain Stimulation (DBS) systems (for treating Parkinson’s disease, movement disorders, etc., awarded the First Prize of the National Science and Technology Progress Award), Vagus Nerve Stimulation (VNS) systems (for treating refractory epilepsy), and Sacral Nerve Stimulation (SNS) systems (for treating urinary and bowel dysfunction, among other conditions). To date, PINS Medical is the only company worldwide to have obtained regulatory approvals and achieved commercialization for all three systems: DBS, VNS, and SNS. Furthermore, the company enjoys extensive renown both domestically and internationally. It is the sole entity in China responsible for constructing the “National Engineering Laboratory for Neuromodulation Technology,” the national-level research institution in the field of neuromodulation. The company has consecutively received support from China’s National Key Technology R&D Programs during the 11th and 12th Five-Year Plan periods, as well as from the National Key R&D Program during the 13th Five-Year Plan period. Additionally, in collaboration with the world-renowned academic journal Science, PINS Medical established the world’s first neuromodulation award, “The Science & PINS Prize for Neuromodulation.”