Huihe Medical Secures Hundreds of Millions in Series D Funding Led by Taiping Healthcare Fund, Advancing Global Expansion of China-Originated Cardiovascular Interventional Devices

Jan 03, 2026 08:01 CST Updated 08:01

H&H Healthcare

R&D and Producer of Interventional Medical Devices for Heart Disease

Heavyweight Capital Boost: Structural Heart Disease Intervention Field Welcomes "Milestone" Financing

(1) Highlights of Series D Financing: Hundreds of Millions of Funds Injected, Taiping Healthcare Fund Strategically Leads the Investment

In December 2025, Shanghai Huihe Healthcare announced the completion of a D-round financing worth hundreds of millions of yuan, strategically led by Taiping Medical Health Fund, with follow-up investments from existing shareholder Sherpa Investment. This marks a key milestone for Huihe Healthcare following its C+ round financing in 2022, signifying that its innovative capabilities in the field of interventional treatment for structural heart disease have gained significant recognition in the capital market.

This round of financing will accelerate the commercialization process of HuiHe Healthcare's products, provide financial support for its global layout, help expand market channels, promote international cooperation, and allow innovative products to benefit more patients.

(II) In-depth Synergy between Insurance Capital and Healthcare: The Strategic Vision of Taiping Healthcare Fund

In recent years, insurance funds have become an important driving force in the medical and health industry. The insurance funds behind the Taiping Healthcare Fund possess the advantages of long-term stability and cross-cycle allocation, which are highly aligned with the long-cycle and high-investment characteristics of the healthcare industry.

This investment is not merely a capital injection but a profound industrial synergy layout. As the core payer in the healthcare industry, insurance naturally aligns with innovative medical device companies. Through constructing a health management ecosystem of "clients + payers + demand side + resource providers," the Taiping Healthcare Fund achieves full-chain synergy between its core insurance business and the medical industry.

For HuiHe Healthcare, in addition to financial support, it can also leverage the customer resources, insurance channels, and medical institution networks of Taiping Insurance to accelerate product promotion; for Taiping Healthcare Fund, this move can enhance the strategic layout in the field of interventional treatment for structural heart disease, enrich the healthcare investment portfolio, advance the construction of the "Insurance + Medical Care and Rehabilitation" ecosystem, and achieve mutual benefit and win-win results.

Technical Barriers Established: How HuiHe Healthcare Became the Global "Game-Changer" in Structural Heart Disease Interventions?

(1) Core Product K-Clip®: A Global First in Procedure Rewriting the Tricuspid Valve Treatment Landscape

HuiHe Healthcare's self-developedK-Clip® Transcatheter Tricuspid Valve Repair System is the world's first minimally invasive product that replicates the classic surgical annuloplasty, revolutionizing the traditional treatment landscape for tricuspid valve repair.

The uniqueness of K-Clip® lies in that it is the world's first minimally invasive product to successfully replicate the classic surgical annuloplasty. This innovative design concept acts as a bridge between traditional surgery and modern minimally invasive techniques, preserving the therapeutic essence of the classic procedure while incorporating numerous advantages of minimally invasive technology.

This product achieves precise annulus narrowing through a vascular puncture approach, with an average operation time of only 30 minutes, significantly reducing trauma in high-risk patients and shortening the postoperative recovery period. In March 2025, K-Clip® received NMPA approval for marketing and has currently been applied on a large scale in more than 50 core hospitals across China.

In March 2025, K-Clip® successfully obtained NMPA approval for marketing.This is a moment of great significance, marking the official entry of K-Clip® into a new phase of commercial application. To date, K-Clip® has been commercially applied on a large scale in more than 50 core hospitals across China, with clinical data continuously accumulating and an increasing number of successful cases. These real-world data fully demonstrate the safety and effectiveness of K-Clip®, giving more doctors and patients confidence in this product.

Clinical data shows that in the clinical trial led by Academician Ge Junbo, the success rate of K-Clip® surgery was 100%. Within 30 days, 93.33% of patients experienced at least a one-grade reduction in tricuspid regurgitation, and the proportion of patients with NYHA class III or higher decreased from 93.33% to 13.33%. The China multi-center TriStar study enrolled 96 patients, with a 97.9% successful implantation rate, 94.2% of patients experiencing at least a one-grade reduction in regurgitation, and a major adverse event rate of only 2.6%.

(II) Hard Core Strength of the Whole Industry Chain: From Precision Manufacturing to Global R&D

HuiHe Healthcare's core competitiveness stems from its hardcore capabilities across the entire industrial chain, with leading advantages in R&D, production, and clinical processes, supporting the creation of globally pioneering products.

At the R&D level, the company owns more than 120 invention patents, covering key areas such as delivery system design, automated production, and simulation modeling, building a solid technical barrier. Its delivery system is precise and stable, ensuring that devices reach the affected area accurately; the automated production line improves efficiency while guaranteeing consistent product quality.

Taking the design of the delivery system as an example, the delivery system developed by HuiHe Healthcare boasts extremely high precision and stability, ensuring that products like K-Clip® can reach the lesion site accurately in complex vascular environments, much like a precision-guided missile hitting its target. In the field of automated production, HuiHe Healthcare has introduced advanced automated production lines, achieving efficient production from raw materials to finished products, which not only improves production efficiency but also ensures the consistency and stability of product quality.

Simulation technology can predict product performance and potential issues in advance, optimize design, and shorten the R&D cycle. The company has built a full-process technology platform covering "R&D - Production - Clinical" operations. The production base adheres to international quality standards, while also advancing clinical research and product optimization through in-depth cooperation with well-known medical institutions both in China and abroad.

In addition to technology research and development, HuiHe Healthcare has also built a full-process technology platform covering "R&D - Production - Clinical". In the production process, the company owns a modern production base and strictly follows the international quality management system to ensure that every product meets the highest quality standards; in the clinical process, HuiHe Healthcare has established close cooperative relationships with many well-known hospitals and scientific research institutions both in China and abroad. By conducting clinical trials and academic exchanges, it continuously accumulates clinical experience, optimizes product performance, and provides better treatment solutions for patients.

The global layout is proceeding steadily, with the vascular shock wave system C-Wave® already initiating international multicenter clinical trials. CE certification is expected to commence in 2026, showcasing the technical output capabilities of "Made in China."

From the technological innovation of core products to the hardcore strength of the entire industry chain, HuiHe Healthcare has become a "game-changer" in the global structural heart disease intervention field through its relentless efforts and innovative spirit, bringing new hope and dawn to patients with cardiovascular diseases worldwide.

A Blue Ocean Market Worth Hundreds of Billions Awaits: Interventional Treatment for Structural Heart Disease Enters Golden Development Era

(1) Clinical Demand Explosion: Data Reveals a Billion-Dollar Market Gap

The intensification of population aging and the rise in the incidence of cardiovascular diseases are driving the interventional treatment market for structural heart disease into a golden development period, forming a billion-level blue ocean market.

Data from the *Chinese Journal of Circulation* shows that in 2023, the number of hospitals in China treating inpatients with structural heart disease increased by 32.5% year-on-year (from 5,129 to 6,794), and the number of inpatient visits increased by 38.1% (from 3.39 million to 4.68 million), directly reflecting an explosive growth in clinical demand.

Tricuspid regurgitation, as a common type, currently has a treatment rate of less than 5%, leaving the needs of a large number of patients unmet. By 2030, it is estimated that there will be 12 million patients in China with moderate or severe tricuspid regurgitation, and market demand will continue to surge.

Only 3 similar products have been approved globally, indicating a relaxed competitive landscape. HuiHe Healthcare's K-Clip®, with its "one-valve dual-repair" concept and excellent clinical outcomes, is expected to capture 30% of the global market share, offering both commercial value and social significance.

(II) Dual Drivers of Policy and Technology: The Rise of China-Made Substitutes Accelerates

Driven by both policy and technology, domestically produced interventional devices for structural heart disease are accelerating to replace imports, breaking the monopoly of foreign brands.

The "Healthy China 2030" strategy provides policy support, with measures such as priority review and approval, and倾斜 in medical insurance payments, shortening the market entry cycle for innovative products and enhancing market competitiveness. HuiHe Healthcare's K-Clip® has benefited from the priority review policy, achieving rapid commercialization.

Technological innovation is the core driving force for domestically produced alternatives. HuiHe Healthcare practices the "medical-engineering integration" model, collaborating with top institutions such as Zhongshan Hospital Affiliated with Fudan University and Fuwai Hospital, to transform clinical needs into innovative momentum and optimize product performance.

In collaboration with Zhongshan Hospital Affiliated to Fudan University, HuiHe Healthcare optimized the delivery system of K-Clip® based on feedback from clinicians, making its operation more convenient and precise. In partnership with Fuwai Hospital of the Chinese Academy of Medical Sciences, both parties jointly conducted a multi-center clinical trial of K-Clip®, further verifying the safety and efficacy of the product.

Currently, HuiHe Healthcare's product technical parameters surpass international competitors, with costs only 60% of imported devices, demonstrating a significant cost-performance advantage, and accelerating the process of domestically produced replacements.

Capital's Perspective: Value Consensus Under Long-Termism

(1) Taiping Healthcare Fund: Anchoring "Global First" Differentiated Investment

Taiping Healthcare Fund adheres to the investment philosophy of "research first, focusing on globally innovative potential products." This leading investment in HuiHe Healthcare is driven by its differentiated innovative advantages.

Among numerous investment projects, HuiHe Healthcare's original innovative interventional medical devices represented by K-Clip® have successfully caught the attention of Taiping Healthcare Fund. The groundbreaking tricuspid annuloplasty repair technique pioneered by K-Clip® holds pioneering significance worldwide. This differentiated innovation advantage allows HuiHe Healthcare to stand out in the highly competitive medical device market.

A relevant person in charge said: "HuiHe Healthcare's K-Clip® has pioneered a new surgical approach for tricuspid annuloplasty repair. It is one of the few China-originated devices with global commercialization potential, and is expected to bring better treatment options to patients worldwide."

In addition to funding, the Taiping Medical Health Fund will also leverage the network of insurance institutions to help products reach the grassroots market, promote the inclusion of products in insurance payments, and support their expansion into overseas markets such as Southeast Asia and Europe, accelerating the globalization process.

In terms of internationalization strategy, the Taiping Healthcare Fund will also provide strong support to HuiHe Healthcare. Currently, the two parties have developed a detailed plan for overseas market expansion, simultaneously advancing the registration process in overseas markets such as Southeast Asia and Europe. The Taiping Healthcare Fund will leverage its extensive resources and experience in the international market to help HuiHe Healthcare understand the market demands, regulations, and policies of different countries and regions. It will provide comprehensive services for the overseas registration and sales of products, assisting HuiHe Healthcare in bringing its China-original medical devices to the global stage.

(II) Sherpa Investment Continues to Increase: Full-Cycle Trust from Technical Validation to Commercialization

Sherpa Investment, as an old shareholder who has continuously participated in multiple rounds of follow-up investments, has established a full-cycle trust with HuiHe Healthcare, recognizing its commercialization capabilities and development potential.

Cai Daqing, founding managing partner of Sherpa Investment, said: "HuiHe Healthcare has demonstrated mature capabilities in R&D efficiency, quality system construction, and clinical cooperation, and its development strategy is highly consistent with our 'invest early and accurately' concept."

In terms of R&D efficiency, HuiHe Healthcare consistently maintains a high pace of innovation, continuously launching products and technologies with innovative features to meet unmet clinical needs. In the aspect of quality system construction, HuiHe Healthcare strictly adheres to international quality management standards, establishing a comprehensive quality management system to ensure the reliability and stability of product quality. Regarding collaboration with clinicians, HuiHe Healthcare actively partners with renowned hospitals and clinical experts both domestically and internationally, gaining deep insights into clinical needs, continuously optimizing product design, and enhancing the clinical practicality of its products.

HuiHe Healthcare's strategy of "precisely targeting unmet clinical needs + focusing on complex surgical devices" aligns closely with Sherpa’s philosophy of "investing early and accurately." Based on its deep industry knowledge and advantageous resources accumulated over the long term, Sherpa Investment is able to accurately identify enterprises and projects with innovative potential. HuiHe Healthcare is precisely such a company with tremendous growth potential.

Cai Daqing further pointed out that this round of financing will provide funding, channels, and resource assurance for HuiHe Healthcare, accelerate product promotion both in China and internationally, lay the foundation for performance growth, and Sherpa will continue to support its development, sharing in the market growth dividends.

In future development, Sherpa Investment will fully leverage its investment experience and resource advantages in the healthcare field to provide HuiHe Healthcare with support in strategic planning, market expansion, talent acquisition, and other areas, helping HuiHe Healthcare become a globally leading cardiovascular interventional medical device company.

A New Journey of Globalization: From "China-Originated" to "World Solutions"

(1) Acceleration of Commercialization: Aiming for 5,000 Implants by 2026

After the completion of Series D financing, HuiHe Healthcare accelerates its commercialization process, setting a target of 5,000 K-Clip® implants in China by 2026, demonstrating confidence in product performance and market demand.

In order to achieve the goal, the company will make every effort to expand the market, planning to cover more than 200 tertiary hospitals, utilizing the medical resources and reputation of these hospitals to enhance product penetration and popularity.

At the same time, HuiHe Healthcare will expand into the international market, initiating registration applications in countries along the "Belt and Road" route, leveraging national strategic opportunities to promote its innovative technologies globally.

The intelligent production base located in Songjiang, Shanghai has passed the ISO13485 certification, with an annual production capacity of 100,000 sets, which can fully guarantee the product supply needs of domestic and foreign markets.

The annual production capacity of the production base is up to 100,000 sets. Such a strong production capacity serves as a solid backing, providing sufficient product supply assurance for HuiHe Healthcare's explosive demand in both domestic and international markets. Whether it is the rapid expansion of the domestic market or the gradual development of the international market, HuiHe Healthcare is confident in meeting the strong market demand for products like K-Clip® with its robust production capabilities, ensuring that every patient in need can promptly access high-quality products.

(II) Technical Iteration Blueprint: Building a "Full Valve Intervention" Product Matrix

Technological innovation is the core competitiveness of enterprises. After HuiHe Healthcare achieved a breakthrough in the tricuspid valve field, it further expanded into the mitral valve and pulmonary valve interventional treatment fields, creating a "full-valve interventional" product matrix.

Currently, the company is simultaneously developing a mitral regurgitation repair system and a pulmonary valve interventional device. Relying on existing technological advancements, it focuses on addressing the characteristics of these two types of diseases, aiming to provide more minimally invasive and effective treatment solutions.

The development of the mitral regurgitation repair system aims to provide patients with mitral regurgitation a more minimally invasive and effective treatment option. Through in-depth research on the structure and function of the mitral valve, the research team hopes to design an interventional device similar to K-Clip®, which can precisely address the issue of mitral regurgitation while reducing surgical trauma and patient suffering.

The development of pulmonary valve interventional devices is aimed at patients with pulmonary valve disease. Pulmonary valve disease can lead to severe complications such as pulmonary hypertension, significantly affecting the quality of life and life expectancy of patients. The R&D team at HuiHe Healthcare is actively exploring new technologies and materials to develop an effective interventional device for treating pulmonary valve disease, bringing new hope to patients.

Lin Lin, the founder, stated that the future will rely on the "annuloplasty technology" and "intelligent intervention" platforms to promote cardiovascular intervention from "disease treatment" to "functional repair," aiming to provide a "Chinese solution" for 120 million patients with structural heart disease worldwide.

The company will continue to optimize annuloplasty repair technology, expanding to multi-valve interventional products; increase investment in artificial intelligence, big data and other fields, build an intelligent intervention platform, and improve the accuracy and safety of surgeries.

In the construction of the "Intelligent Intervention" platform, HuiHe Healthcare will increase its R&D investment in artificial intelligence, big data, Internet of Things, and other fields to build an intelligent interventional treatment platform. Through this platform, doctors can diagnose diseases more accurately, formulate treatment plans, and achieve real-time monitoring and remote guidance of the surgical process, improving the safety and success rate of surgeries.

HuiHe Healthcare Aims to Provide "Chinese Solutions" for 120 Million Patients with Structural Heart Disease WorldwideThe realization of this goal requires not only continuous efforts in technological innovation and product development but also strengthened cooperation with medical and research institutions both in China and abroad, jointly promoting the development and popularization of cardiovascular interventional treatment technologies. It is believed that in the near future, HuiHe Healthcare, with its strong technical strength and innovative capabilities, will achieve even more brilliant accomplishments in the global field of interventional treatment for structural heart disease, bringing greater benefits to patients worldwide.

Conclusion: When "Made in China" Resonates in the Global Medical Market

HuiHe Healthcare's Series D Financing: A Fusion of Capital and Innovation, and a Microcosm of China's Medical Device Industry Development. From Follower to Leader, HuiHe Healthcare's Growth Reflects the Transformation and Upgrading of China's Medical Device Industry.

Driven by the dual engines of insurance funding and technological innovation, this sci-tech enterprise rooted in Songjiang, Shanghai, is advancing the overseas expansion of original Chinese medical devices starting with K-Clip®. As Taiping Healthcare Fund stated: "We are not only investing in a company, but also in a future that will transform the global cardiovascular treatment landscape."

In the future, it is expected that more Chinese companies will bring "China Intelligent Manufacturing" medical devices to the global market, allowing Chinese wisdom and solutions to shine in the international medical field.

Looking back at the development process, the growth trajectory of HuiHe Healthcare clearly outlines the innovative breakthrough path of China's original medical device enterprises. The following is its core development timeline:

HuiHe Healthcare Development Timeline

May 2019: Shanghai Huihe Healthcare Technology Co., Ltd. was officially established, with its registered address located in Songjiang District, Shanghai, marking the beginning of an innovative journey in cardiovascular interventional medical devices.

April 2020: The company's legal representative was changed to Lin Lin; in the same year, the enterprise settled in Jiuting Town, Songjiang District, marking a new phase of scaled development.

April 2021: The core product K-Clip® Transcatheter Tricuspid Annuloplasty Repair System completed its first human implantation, led by a team under Academician Ge Junbo from Zhongshan Hospital Affiliated with Fudan University; In September, it was shortlisted for the growth group list of the 10th China Innovation and Entrepreneurship Competition national competition; In October, K-Clip® passed the special approval for innovative medical devices by the National Medical Products Administration, entering the "green channel."

November 2022: Completed the change of investors (equity); in the same year, completed the C+ round of financing, injecting momentum into product development and clinical advancement.

March 2023: The company name was changed to Shanghai Huihe Healthcare Technology Co., Ltd., and the enterprise type was converted to a non-listed joint-stock company, marking a new step towards standardized development.

March 2025: Core product K-Clip® officially received approval from the National Medical Products Administration (NMPA) for marketing, filling the gap in China's interventional tricuspid valve field; In December, it completed a D-round financing of several hundred million yuan, led by Taiping Healthcare Fund and followed by Sherpa Ventures, to accelerate global expansion.