Semacare Medical Secures Tens of Millions in Series A Funding to Advance AI-Powered Cardiovascular Health Solutions

VCBeat has learned that Xuhong Medical recently completed a tens-of-millions-yuan Series A financing round, invested by Shenzhen Lihe Hongxin Venture Capital Partnership (Limited Partnership) [hereinafter referred to as “Lihe Hongxin”]. The proceeds will be used for mass production of its products. Currently, Xuhong Medical is undertaking a new round of financing.

Previously, Semacare Medical received tens of millions of yuan in Pre-A round investment from ISVI Capital.

Semacare Medical Technology, formerly known as Senmeijia Medical, was established in Melbourne, Australia, in November 2014. It is an innovative medical technology enterprise dedicated to leveraging advanced technologies for life and health data management. Semacare focuses on the field of cardiovascular diseases, with its core business centered on the prevention and management of chronic diseases.

Currently, Semacare Medical primarily provides integrated “hardware + software + diagnosis + management” solutions for the cardiovascular field.

“Choosing to start a business in the cardiovascular and cerebrovascular field is driven by both emotional and rational reasons,” said Wang Boyang, CEO of Semacare Medical.

From an emotional perspective, with a close family member suffering from cardiovascular disease, Wang Boyang, as a patient’s family member, observed the lack of relevant solutions in niche markets such as diagnosis and rehabilitation. He aims to fill this market gap to benefit more patients and their families.

From a rational perspective, according to the "Report on Cardiovascular Diseases in China 2018," there are approximately 290 million people with cardiovascular diseases in China, and the prevalence rate is continuously rising. In 2016, cardiovascular disease had the highest mortality rate, surpassing cancer and other diseases. The mortality rate for cardiovascular diseases in rural areas was 309.33 per 100,000, accounting for about 45.50% of all causes of death; in urban areas, the mortality rate was 265.11 per 100,000, accounting for about 43.16% of all causes of death.

Due to the large patient population and severe health risks associated with cardiovascular and cerebrovascular diseases, there is an urgent demand among residents for solutions in this field.

Wang Boyang judges that the cardiovascular and cerebrovascular market is still in its growth phase, with the future growth catalyst being the shift of solutions from hospitals to homes. Currently, the home care market remains largely untapped, and Shenzhen Semacare Medical Technology Co., Ltd.’s early entry will fill this market gap.

“The primary cause of most diseases is patients’ unhealthy lifestyles. Semacare aims to integrate healthcare into daily life, promoting healthy and scientific lifestyle habits to prevent disease. Additionally, we strive to leverage innovative technologies to enhance physicians’ work efficiency, assisting them in delivering efficient and professional cardiac care, thereby improving recovery outcomes for patients with existing conditions.” When asked about how to innovate, Wang Boyang summarized based on his years of experience: “Innovation stems from the taste of life.”

Semacare Medical’s vision is to lead technological advancement, starting from the “heart.” Semacare Medical strives to connect with the public heart-to-heart, facilitating heartfelt connections between patients and doctors or specialists, thereby contributing to public health management. Furthermore, as a medical technology enterprise, Semacare Medical aims to make innovative medical technologies accessible to all, safeguarding human life and health.

Wang Boyang stated, “I am deeply grateful that our competitors share the same vision as Semacare Medical. I hope they will excel in this field, helping more patients and families. Furthermore, I look forward to collaborating with them to expand the overall market and benefit a broader population.”

To realize its corporate vision, Shenzhen Semacare Medical Technology Co., Ltd. has launched products such as LifeStudy™, LifeService™, and Smart Heart Patch™, leveraging technologies like big data and artificial intelligence. The combination of LifeStudy™ (a data science product), LifeService™ (a data service product), and hardware products (for front-end data monitoring) enables an integrated service model for cardiovascular disease prevention, automated diagnostic screening, and treatment planning. This approach facilitates a significant upgrade in the diagnosis and treatment paradigms for cardiovascular diseases, creates differentiation, and establishes a closed-loop commercial ecosystem for its products.

In addition to its superior product portfolio, the team at Semacare Medical is an indispensable element in realizing its vision. The healthcare industry is a comprehensive, interdisciplinary field encompassing medicine, biomedical engineering, electronics, information technology, artificial intelligence, and materials science. Adhering to a people-centric philosophy, Semacare Medical regards talent as its most core asset.

The Semacare Medical team comprises innovative R&D experts in medical hardware and software, as well as marketing professionals from around the world. Most team members have previously held positions at leading companies such as Huawei, Mindray, Google, and Microsoft, demonstrating strong collaborative capabilities.

Wang Boyang stated, “Semacare Medical is a diversified enterprise, yet we share a common vision, mission, and values. Guided by these shared values, we have been attracting an increasing number of talents. Semacare Medical does not rely on salary packages to recruit talent; instead, our team members work together driven by a shared dream. In fact, one of our team members, formerly a senior executive at a leading company, chose to join us despite forfeiting a high-paying position, due to his alignment with Semacare Medical’s vision and values.”

Mr. Li from Lihe Hongxin stated, “Our project evaluation focuses on three key aspects: technology, team, and market. The remote ECG monitoring products and out-of-hospital monitoring solutions developed by Semacare Medical possess high technical barriers. Furthermore, Semacare Medical has miniaturized large-scale ECG monitoring equipment for home use, creating significant commercial and social value. As the home care market is currently largely untapped, Semacare Medical holds substantial opportunities. I believe that as long as costs are kept sufficiently low, and the products provide tangible benefits to hospitals and value to consumers, the market will inevitably embrace them. Regarding the team, led by Mr. Wang Boyang, it is relatively young, demonstrates strong collaborative capabilities, and boasts exceptional execution power. Additionally, Mr. Wang has accumulated extensive experience through years of immersion in the industry, and his overseas education has endowed him with an international perspective. We are confident that the Semacare Medical team will realize its vision through its outstanding execution capabilities.”

Although Semacare Medical is still in its early startup phase, it has established highly standardized systems across all operations. For instance, the company obtained ISO 9001 certification at an early stage. Furthermore, Semacare Medical maintains a robust financial management system with unified internal and external accounting records. Wang Boyang stated, “We aim to build a century-old, or even millennium-old enterprise; therefore, our corporate management is strictly governed by well-established regulations and operates with a high degree of standardization.”

During the pandemic, Semacare Medical did not halt its progress; on the contrary, it achieved repeated breakthroughs in its R&D efforts. Wang Boyang explained, “We have been accustomed to remote work since our inception, and we became even more focused during the pandemic. As a result, our software algorithms have become superior.” Additionally, with government assistance, Semacare Medical successfully submitted its application for registration certificates during the pandemic and expects to obtain them shortly.

In the future, with the support of Lihe Hongxin, Semacare Medical will establish branch offices in Beijing, Shanghai, Chongqing, and Yinchuan, and set up a joint R&D center in Beijing.

Shenzhen Lihongxin Venture Capital Partnership (Limited Partnership), established in 2016 and managed by Shenzhen Lihao Venture Capital Co., Ltd., focuses on investing in strategic emerging industries such as biomedicine, new energy, new materials, electronic information, integrated circuits, and high-end equipment. Its investment stage is primarily early to mid-stage, with over 50 projects invested so far. In response to the call for vigorously developing a high-level biomedical industry in the "Made in China 2025" plan and implementing the major deployment of strategic emerging industries like biomedicine, advanced medical imaging, and gene technology outlined in Shenzhen's "13th Five-Year Plan," Lihongxin has been gradually increasing its investment layout in high-tech enterprises within the biomedical field, based in Shenzhen but facing the global market.