Wenyi Fuxin Files IPO Prospectus to Expand as a Premium Overseas Health Management Platform

As national income levels and health awareness rise, an increasing number of Chinese citizens are choosing to travel abroad to access high-quality medical services. “Overseas healthcare” has become a buzzword, and the market size for overseas healthcare continues to expand.

By 2020, overseas medical services had been in development for a full decade. Amid the booming tide of the overseas healthcare industry, one startup gained favor from investors such as Legend Star and secured nearly RMB 10 million in total financing within less than three years of its establishment.

“Wenyifuxin’s core values are centered on the user, providing the most professional and valuable services to users.” Jiang Songtao, founder of Wenyifuxin Health Technology Medical Group (hereinafter referred to as “Wenyifuxin”), told VCBeat. He pointed out that it is precisely because of this value orientation that Wenyifuxin has been able to advance at full speed, gradually gaining recognition within the industry.

What is the market landscape for overseas medical services? How has Wenyifuxin strategically positioned itself with precision? In response to these questions, VCBeat conducted an exclusive interview with Jiang Songtao, founder of Wenyifuxin, to hear his entrepreneurial journey and strategic roadmap.

Wenyifuxin, established in 2017, is a bespoke premium light-luxury brand under Youxin Travel, specializing in overseas health tourism. It caters to elite clients, providing professional and rigorous overseas health services and international travel arrangements.

Prior to founding Changzhou Wenyifuxin Health Technology Co., Ltd., Jiang Songtao had been developing his own travel brand, Youxin Travel. After three years of accumulation, Youxin Travel attracted over 1 million users and reached a peak valuation of RMB 1.2 billion.

With a 12-year background in financial institutions, Jiang Songtao possesses unique and precise judgment when it comes to identifying business opportunities. Although Youxin Travel has been operating reasonably well, he believes that if the company fails to establish itself as an Online Travel Agency (OTA), its future development will face significant challenges. “The pure tourism sector suffers from low profit margins, elongated supply chains, and difficulties in quality control—these are all hard nuts to crack,” commented Jiang Songtao.

（Jiang Songtao, Founder of Wenyifuxin Health Technology Medical Group）

“Through market research, Jiang Songtao resolved to pivot from pure tourism to focusing deeply on a specific sector. ‘It was during this process of seeking change and conducting research that I identified market opportunities in overseas medical services. This sector is still in its early stages, making it worth exploring. That’s what sparked the impulse to found Wenyifuxin,’ said Jiang Songtao.”

Why is it called “Wenyifuxin”?

Jiang Songtao told us that there is actually a small story behind the creation of the brand Wenyifuxin. In 2014, Jiang Songtao and his wife went to Florence, Italy for their honeymoon. During their trip in Florence, they walked into an old shop selling fur. As soon as they entered the shop, they were attracted by the employees of this store. It turned out that all the employees of this shop were elderly people with gray eyebrows and white hair.

“We were quite puzzled at the time and asked if there were any younger staff members. An employee explained that even the youngest was around 70 years old; the store assistants had been working for the shop owner since they were young, staying with him for several decades until now. The owner of this shop deeply loved his wife. Despite her infertility and frequent interference and opposition from his family, he remained devoted to her throughout his life,” said Jiang Songtao.

After a face-to-face conversation with the elderly couple, Jiang Songtao was deeply moved. “On one hand, I was touched by their affection for each other; on the other, I felt regret for them. Due to the underdeveloped medical technology at that time, they were unable to have children, a circumstance that directly hindered the continuation and inheritance of many beautiful aspects of their lives,” said Jiang Songtao.

Florence is the birthplace of the Renaissance. With an entrepreneurial mindset for a second venture and driven by the vision of helping more people through the provision of high-quality medical resources, Jiang Songtao chose “Wenyifuxin”—a homophone of “Renaissance” in Chinese—as the brand name. This name carries auspicious connotations and serves as a tribute to the couple he encountered.

In fact, overseas medical care is considered an emerging industry in China. According to data from Ctrip, the number of people who signed up for overseas medical-related tourism through Ctrip reached 800,000 in 2019, a fivefold increase compared to 2016. Relevant departments have estimated that the number of Chinese patients seeking medical treatment abroad may exceed 1 million by 2020.

Behind the continuously rising data lies immense market potential.

Driven by passion and opportunity, Jiang Songtao positions Changzhou Wenyifuxin Health Technology Co., Ltd. as a one-stop overseas health concierge, aiming to build the most professional brand in overseas medical services.

According to surveys, Chinese residents’ primary demand for overseas medical services is concentrated in critical care, overseas health check-ups, assisted reproduction, and medical aesthetics. This demand continues to grow, presenting a blue-ocean market.

Jiang Songtao introduced that since the establishment of Wenyifuxin, the company has focused on mid-to-high-end users and built four high-value business matrices: overseas assisted reproduction, anti-aging pioneer, overseas precision medicine, and shared spaces for the big health medical system.

Overseas fertility assistance includes overseas childbirth, fertility support services, egg and sperm freezing, and more, catering to diverse user needs. We provide professional consultation, rigorous matching, and access to premier destination clinics, including leading medical facilities in the United States, Japan, Thailand, Taiwan, and Russia.

Anti-Aging Pioneers include: overseas stem cell anti-aging therapies, overseas medical aesthetics, and domestic and international bioidentical hormone replacement therapies. Anti-Aging Pioneers are dedicated to helping users restore health, beauty, and a youthful state by customizing overseas cellular series and technology-driven anti-aging product lines from the inside out.

Overseas precision medicine includes: overseas stem cell regenerative therapy, overseas comprehensive health screenings, overseas precision cancer screening, overseas blood purification, and overseas treatment for critical illnesses.

Shared spaces in the holistic healthcare ecosystem include: on-demand customization of medical products, personal health concierge services, and one-stop health and travel solutions.

“Currently, from the perspective of our user demand, assisted reproductive technology accounts for approximately 50%, regenerative medicine—including stem cells and immune cells—accounts for 30%, precision health checkups account for 10%, and high-end medical aesthetics account for 10%,” said Jiang Songtao.

He stated that the company’s four relatively mature business segments went through a period of tentative exploration in their early stages. “Throughout 2017, we focused on the upstream sector, identifying high-quality medical institutions, establishing connections with them, and implementing comprehensive quality control,” said Jiang Songtao.

In his view, the primary prerequisite for engaging in overseas medical services is strict adherence to legal and regulatory compliance, followed by partnerships with leading medical institutions. Jiang Songtao introduced that Changzhou Wenyifuxin Health Technology Co., Ltd. has currently established robust collaborations with high-quality medical institutions in the United States, Japan, and other regions through cooperative agreements and equity investments.

For example, there are the California Center for Reproductive Health in the United States, Pacific Fertility Center in Los Angeles, HFE Clinic in Japan, and HELENE Stem Cell Regenerative Clinic.

"Upholding quality, over half of Wenyifuxin's customers come from word-of-mouth referrals and repeat business. 'After three years of meticulous refinement, Wenyifuxin has seen rapid growth in its user base. We hope to continue addressing more of our customers' needs,' said Jiang Songtao."

2019 has just passed, and Changzhou Wenyifuxin Health Technology Co., Ltd. achieved annual revenues exceeding RMB 100 million. Jiang Songtao is full of confidence in the company’s development for the next phase.

He pointed out that in the next phase, more solid efforts will be made to strengthen upstream layout and provide users with more high-quality medical resources. In addition, regarding downstream plans, customer service will be enhanced by front-loading service capabilities, including a plan to open 10 preconception care centers in China in 2020.

“In the first phase, we integrated high-quality overseas medical resources by facilitating outbound medical travel for patients. In the future, we will gradually introduce advanced foreign products and technologies to China for local implementation. By leveraging local governments’ investment promotion and talent acquisition policies, we aim to bring our service offerings closer to end users. This includes obtaining necessary licenses in China and establishing our own clinics and hospitals, which constitutes our medium- to long-term strategic plan,” said Jiang Songtao.