Nanjing Hanya Health Technology Files IPO Prospectus to Capture the Billion-Dollar Rehabilitation Market with Cardiopulmonary Exercise Testing Systems

In recent years, guided by national policies, the rehabilitation medical industry has garnered increasing attention from all sectors of society, attracting scholars, investors, and entrepreneurs to enter the field. The influx of these stakeholders has driven the domestic rehabilitation medical industry from its initial promotion phase toward a more mature stage characterized by standardized development.

According to the "2019 Research Report on the Development Potential of the Rehabilitation Industry" released by VCBeat, China's per capita rehabilitation expenditure was approximately RMB 32 in 2018. With rising income levels and increased spending on rehabilitation services, per capita expenditure is projected to reach around RMB 74 by 2022, at which point the market size of China’s rehabilitation industry is expected to attain RMB 103.3 billion.

Nanjing Hanya Health Technology Co., Ltd. (hereinafter referred to as “Nanjing Hanya”), located in the Gaochun Economic Development Zone of Nanjing City, is a medical device manufacturer specializing in the research and development, production, sales, and service of high-tech medical products in the field of rehabilitation. Its main business activities include the R&D, production, and sales of organ rehabilitation products.

“Ten years ago, China’s rehabilitation medical equipment relied heavily on imports. We wanted to change this situation, so we founded Nanjing Hanya and joined the effort to localize advanced foreign medical devices,” Jiang Li, General Manager of Nanjing Hanya, told VCBeat. There is demand for rehabilitation medical equipment across high-, mid-, and low-end markets. Localization not only reduces equipment prices, making them affordable for primary healthcare institutions, but also alleviates the nation’s healthcare burden.

How to Deeply Penetrate the Rehabilitation Sector? Nanjing Hanya Chose to Enter Through the Niche Field of Organ Rehabilitation. To This End, Nanjing Hanya Developed a Cardiopulmonary Exercise Testing (CPET) Functional Assessment System, Which Mainly Includes Products Such as Cardiopulmonary Exercise Function Testers, Exercise Electrocardiograph Machines, and Cardiopulmonary Function Assessment Software.

The cardiopulmonary exercise testing system incorporates multiple gas analysis sensors, including ceramic platinum oxygen analyzers, ultrasonic flow sensors, and molar mass carbon dioxide analyzers. It features high measurement accuracy, ease of operation, and both manual and automatic calibration capabilities.

The cardiopulmonary function assessment software was jointly developed by the company’s Chief Experts, Professor Tjeu (Netherlands) and Dr. Martin (Germany), together with the R&D teams from Nanjing University and the company. The development process received long-term guidance from Professor Li Jian’an, President of the International Society of Physical and Rehabilitation Medicine (ISPRM) and Member of the American Institute for Medical and Biological Engineering (AIMBE), and Professor Sun Xingguo from the National Center for Cardiovascular Diseases and the UCLA Medical Center.

“Leveraging academic platforms provided by industry experts, we have assembled our own R&D team comprising PhDs and master’s graduates from prestigious universities as well as seasoned industry professionals. Since establishing an industry-academia-research collaboration model with Nanjing University in 2010, we have achieved substantial results in both software and hardware development, while also ensuring that our products better align with the practices of Chinese physicians,” stated Jiang Li. She noted that after obtaining production licensing from the China National Medical Products Administration (NMPA) in 2016, Nanjing Hanya established R&D centers in both China and Europe, and maintains collaborative partnerships with multiple European research institutions.

As a high-tech enterprise, Nanjing Hanya has obtained one invention patent, one design patent, eight utility model patents, and four software copyrights. Among these, the globally patented "Rapid Long-Life Oxygen Sensor Technology" and "Ultrasonic Micro-Flow Testing Technology" can prevent cross-infection during cardiopulmonary exercise testing.

“Using our cardiopulmonary exercise testing system enables 260 additional tests per year compared to equipment from other brands. To achieve better rehabilitation outcomes, we have introduced a full suite of German Ergo-Fit rehabilitation training equipment, providing more professional and effective services for cardiac rehabilitation.” Supported by advanced technology and equipment, Nanjing Hanya has also extended its solutions to other rehabilitation fields, including surgical risk management, respiratory rehabilitation, diabetes rehabilitation, nephrology rehabilitation, geriatric rehabilitation, and sports performance.

High-quality products have attracted a wide range of clients. Nanjing Hanya has established collaborations with Fuwai Hospital in Beijing, Guangdong Provincial People’s Hospital, Jiangsu Province People’s Hospital, Beijing Sport Science Institute, Nanjing Sport Institute, Shandong Sports Science Institute, and Shanghai Shenhua Football Club, among others. Furthermore, at the capital level, Nanjing Hanya has completed two rounds of financing.

Behind this achievement is Nanjing Hanya’s high-quality team. Currently, one-third of Nanjing Hanya’s staff are R&D personnel, one-third are marketing personnel, and one-third are production personnel. In 2014 and 2016, General Manager Jiang Li was selected by the National Development and Reform Commission as a representative of domestically produced high-end medical equipment, with Nanjing Hanya being named one of three high-tech medical device enterprises in China. She accompanied Premier Li Keqiang to attend the Sino-German Economic Cooperation Forum held in Berlin, Germany, and Beijing, China, respectively.

In addition to the team, Jiang Li stated that the development of Nanjing Hanya also relied on the guidance and support of the Gaochun Economic Development Zone, a national-level business incubator. “The medical and health industry is one of the pillar industries in Gaochun District, and we are fortunate to have started our business here.” According to a report by Nanjing Daily, last March, Nanjing City explicitly expressed its support for Gaochun’s development, with a key focus on fostering the growth of the medical device industry. At the 2019 China Medical and Health Industry Summit Forum, Gaochun released the Special Support Measures for Promoting the Development of the Medical Device Industry.

In terms of market presence, Nanjing Hanya’s primary customers are currently hospitals. “In addition to hospitals, we are also collaborating with some health centers. These centers serve not only individuals in a sub-health state but also extreme sports athletes,” said Jiang Li. She noted that Nanjing Hanya does not rely on any particular commercial promotion strategies; instead, its core focus lies in product quality and the rationality of its solutions. “Healthcare is a heavily regulated sector. Only by delivering robust product and service quality can we earn customer trust.”

Looking ahead, Jiang Li stated that Nanjing Hanya will continue to prioritize technological and service innovation, while deepening its expertise in organ rehabilitation and gradually advancing toward the integration of clinical and rehabilitative care.