2020 Medical Device Innovation Vitality List Now Open for Submissions

The future direction of the healthcare industry depends not on data predictions, but on ongoing technological innovations. In 2015, VCBeat launched the nominations for its annual Internet Healthcare Leaders List, the predecessor to the Top 100 Future Healthcare Companies list. Over the past five years, VCBeat has published 10 main rankings covering the healthcare industry and 30 sub-rankings focusing on specialized medical sectors, featuring a cumulative total of 688 listed companies with a combined valuation of RMB 1.18177 trillion. By continuously identifying the most representative innovative and high-potential enterprises in the healthcare sector, VCBeat has gained broader insights into the directions of transformation within the health and medical industry. In an industry where barriers are constantly broken down and innovation paves the way, the VB100 has consistently witnessed and supported the rise of core forces shaping the future of healthcare.

2014 marked the inaugural year of internet healthcare. After one year of development, the sector is still regarded as a market with immense potential, attracting fierce competition among major internet companies, startups, pharmaceutical industry players, real estate firms, insurance providers, and numerous other enterprises.

While many companies were betting on internet healthcare, one enterprise chose to take a proactive step, seizing the opportunity to rapidly capture market share before the wave of genetic testing fully arrived. Founded in 2014, this company grew steadily from scratch and secured a leading position in the industry within just one year. Over the following six years, whether by obtaining the “first NGS-based companion diagnostic certificate for oncology” or securing an RMB 850 million Series C financing round in early 2019, the company has consistently remained at the forefront of the oncology NGS companion diagnostics sector.

On June 12, 2020, the company was officially listed on the NASDAQ in the United States, becoming the first Chinese tumor NGS testing company to go public in the U.S. This company is Burning Rock Biotech. In the 2015 Internet Medical and Health Rankings, Burning Rock Biotech topped the “Most Watched Emerging Companies” list. Rapid emergence, swift development, and significant momentum became the keywords for the medical and health industry in 2015, and this remains true today.

At the center of an intense tropical cyclone, there is a roughly circular area that appears to be the calmest part of the storm.This year, healthcare reform policies were liberalized, and favorable pilot regulations were introduced in multiple regions, yet no significant effects were observed. Capital markets continued to pour in investments, but failed to dispel the prevailing narrative of a “winter” in the industry. Artificial intelligence and gene technologies kept advancing with iterative updates, yet could not achieve substantial cost reductions. Policy, capital, and technology have unleashed a barrage of sharp challenges; medical innovation has entered its most turbulent phase, striving vigorously to break into the core of the healthcare sector, but with limited results and arduous progress.

In 2016, investment institutions became more cautious in selecting enterprises, and many business models that had been disproven no longer attracted market attention. Startups were seeking market gaps, and through the introduction of various new models and technologies, the boundaries of healthcare were expanded. Just like the existence of the "eye of the storm,""Trapped within, undercurrents surge; seemingly inescapable, yet secretly brewing alone."

In 2016, the sixth year of WeDoctor’s exploration in building a closed-loop internet healthcare ecosystem, the company established a three-tier service assurance system, connected with 2,400 key partner hospitals across China, aggregated a high-quality medical resource network comprising over 260,000 expert physicians and 7,200 online expert teams, and launched internet hospitals co-established with offline physical medical institutions in 17 provinces and municipalities. WeDoctor, ranked third on the 2016 Top 100 Future Healthcare Companies list, did not slow its pace even during the industry winter.In May 2018, WeDoctor secured $500 million in pre-IPO financing, with its valuation doubling to RMB 38.5 billion on last year’s Top 100 list.

In 2017, the healthcare service model gradually became a reality, with practitioners moving forward under heavy burdens, akin to camels on a long march; medical technology companies, like cheetahs that had lain in wait for years, began to reveal their prowess driven by capital; traffic in the health and medical industry underwent rapid shifts, with new medical forces advancing irresistibly like migrating wildebeests; while traditional pharmaceuticals and medical device sectors, under new policies, executed graceful turnarounds like elephants...

In 2017, United Imaging Healthcare successfully completed the largest single private equity financing in China’s medical device industry at that time, raising RMB 3.333 billion. The internet-based medical consortium model pioneered by WeDoctor became an industry benchmark, with the initial framework of the digital healthcare ecosystem taking shape. BabyTree, the leading online maternal and infant community platform, reported annual revenue of RMB 729 million. During this era of explosive diversification, various niche sectors within the healthcare industry were unleashing new vitality.

In the 2017 Future Healthcare Top 100 list, sectors such as medical devices, biopharmaceuticals, healthcare informatics, and pharmaceutical e-commerce flourished, with capital focusing on niche markets that demonstrated growth potential and had validated business models.

Policy is a tide, capital is a tide, and technological innovation is also a tide; they interact, influence, and superimpose upon one another, jointly propelling healthcare toward the future.

That year, Fourier Intelligence, the leading Chinese rehabilitation robotics company, completed a RMB 30 million Series A financing round. WuXi AppTec swiftly passed its IPO review, becoming the first “unicorn” stock listed on China’s A-share market, with its market capitalization rapidly exceeding RMB 100 billion after listing. Infervision completed a RMB 300 million Series C financing round. Technological innovation emerged as the primary driving force that year, with the biotechnology sector garnering significant attention and artificial intelligence on the rise. On that year’s Top 100 list, Yitu Technology jumped to fourth place with a valuation of RMB 15 billion, leveraging its technological advantages to achieve rapid growth.

Digitalization has unveiled an entirely new landscape of possibilities, where every effort we make toward social good will serve as the key to unlocking new growth in life.

This year, Google and Mayo Clinic signed a 10-year strategic partnership to accelerate the digital transformation of healthcare; the State Council issued a directive to promote the Sanming healthcare reform model in Fujian Province, propelling healthcare reform onto the fast track of digital transformation; WeDoctor and Boehringer Ingelheim established a strategic collaboration to upgrade the chronic disease management industry through digital, condition-specific integrated care consortia... Digitalization has ushered in new possibilities for the healthcare industry.

The 2019 Future Healthcare 100 list highlights digital health companies that achieved high valuations during their growth stage, with impressive data. Ping An Health Insurance Technology ranked at the top with a valuation of RMB 60 billion.Digital Healthcare RankingsTopping the list, it holds the highest valuation across the entire Top 100 series. According to VCBeat’s experience, digital health companies require the shortest time to make it onto the list; in the 2019 Future Healthcare 100 · China Digital Health List, 67% of the listed companies had been established for less than six years.

In 2020, VCBeat, anchored in industry research, focused on innovative development, technological transformation, and policy evolution in niche sectors of the healthcare industry, while identifying high-growth innovative enterprises. On this basis, it launched the specialized, regular rankings under the “Top 100 Future Healthcare Companies” series.Compared to the annual Top 100 list, the regular ranking will be more focused and precise. We have moved beyond a single valuation dimension to evaluate the innovation vitality of innovative enterprises from multiple perspectives.To you who are rising, eager to break through your limits and drive innovative development.

The 2020 Medical Device Innovation Vitality Ranking will focus on four sectors: in vitro diagnostics, precision medicine, high-value consumables, and home-use medical devices. It will highlight four popular categories—chemiluminescence, home medical equipment, orthopedic implants, and cutting-edge “black-tech” products—to select the enterprises demonstrating the greatest innovation vitality in the medical device industry in 2020. In the upcoming20202nd EditionInternational Summit on Medical Device InnovationOn-site, we will release this2020 List of Innovative Vitality in Medical Devices.

Home Medical Device Category

Candidates for Selection:An innovative enterprise that manufactures home medical devices, including blood pressure monitors, blood glucose meters, oxygen concentrators, nebulizers, ventilators, and wheelchairs.

Eligibility Criteria:A. Non-listed companies in the field; B. Capable of sustained operations; C. Innovative enterprises with application scenarios; D. Having received at least angel-round financing; E. Possessing physical entities and business operations in China; F. Still operational as of the selection date; G. No major corporate violations within the past three years.

Orthopedic Implants

Eligible Candidates:An innovative enterprise specializing in the production of high-value medical consumables, including orthopedic implants for trauma, spine, and joint applications (such as bone plates, bone screws, intramedullary nails, spinal internal fixation implants, artificial joints, and bone repair materials).

Eligibility Requirements:A. Non-listed companies in the field; B. Possessing the capability for sustained operations; C. Material innovation-driven enterprises; D. Having secured at least angel-round financing; E. Maintaining physical entities and business operations in China; F. Remaining operational as of the evaluation date; G. No major corporate violations within the past three years.

Chemiluminescence

Candidates for Selection:An innovative enterprise that manufactures in vitro diagnostic devices and instruments using chemiluminescence immunoassay (CLIA, a technology combining the principles of chemiluminescence and immunological reactions).

Eligibility Requirements:A. Non-listed companies in the sector; B. Capability for sustained operations; C. Technology-driven innovative enterprises; D. Having secured at least angel-round financing; E. Maintaining physical entities and business operations in China; F. Still operational as of the evaluation date; G. No major corporate violations within the past three years.

Black Tech Products

Eligible Candidates：In the healthcare sector, enterprises that integrate innovative technologies such as artificial intelligence, virtual reality, and 3D printing with medicine, with products under development or already on the market, which can significantly optimize one or more products addressing previously unresolved challenges.

Eligibility Criteria:A. Non-listed companies in the field; B. Possessing the capability for continuous operations; C. Product-innovation-driven enterprises; D. Having secured at least angel-round financing; E. Maintaining physical entities and business operations in China; F. Remaining operational as of the evaluation date; G. No major corporate violations committed within the past three years.

From today until July 13, registration for the rankings is open.

July 14–24: List Selection

July 24–July 28, List Verification

July 28,2020 2ndOn-Site of the International Summit on Medical Device InnovationRanking Release

The 2020 Medical Device Innovation Vitality Ranking will employ the Four-Dimensional Growth Vitality Matrix to comprehensively evaluate and score enterprises across four primary dimensions—core competitiveness, key partners, industry performance, and innovation vitality—based on 15 secondary indicators, including knowledge resources, human resources, brand image resources, star products, research collaborations, channel partnerships, industry scale, market share, user base size, value chain position, technological innovation, scenario-based innovation, and material innovation.

Click the link to register,http://vcbeat2018.mikecrm.com/S84kOmN

Scan the QR code to register

For more details on the rankings and evaluation criteria, seehttps://vcbeat.top/Forum/summitList