Huihe Medical, a Global Pioneer in Structural Heart Devices with Over RMB 1 Billion Raised in Six Years, Files for IPO

Recently, Shanghai Huihe Healthcare Technology Co., Ltd. completedHundreds of millions of yuanD Round Financing，Valuation Soars to 8 Billion Yuan, further solidifying its position as the unicorn in the field of interventional medical devices for structural heart disease, and hasEnter the listing tutoring phase, is about to embark on a new journey.

In the field of medical health, interventional treatment for structural heart disease is a globally recognized innovation hotspot, but the treatment of tricuspid regurgitation has long been mired in technical bottlenecks. Many patients, unable to endure the trauma of traditional open-chest surgery, suffer in pain; many doctors, facing clinical dilemmas, can only feel compassion yet struggle to find a breakthrough.

HuiHe Healthcare precisely targets this unmet clinical need and dives headfirst into the R&D and production track of related devices.

Globally pioneering products build up the core confidence for financing

Capital's favor never comes out of thin air; the core confidence of HuiHe Healthcare lies in its groundbreaking technological innovation.

In March 2025, HuiHe Healthcare's globally pioneering K-Clip® Transcatheter Tricuspid Annuloplasty Repair System officially received approval from the National Medical Products Administration (NMPA) for market launch in China.`, filling the gap in the field of interventional tricuspid valve in China, bringing hope to countless patients waiting for treatment.`

This innovative product, which reproduces classic surgical procedures, uses exclusive"Annuloplasty Repair Technology" achieves minimally invasive surgery through vascular puncture, completely颠覆ing the traditional open-chest treatment model and providing patients with a safer and gentler treatment option.

A series of stunning clinical data demonstrates the transformative impact of technology on life.

Traditional tricuspid valve repair open-chest surgery requires cardiopulmonary bypass and takes an average of7 hours, with a perioperative mortality rate as high as 9.6%; however, the repeatedly iterated and optimized K-Clip® system not only allows for...Minimally invasive surgery time is reduced to an average of 25 minutes, and experienced doctors can even complete the procedure within 15 minutes.`, and`In clinical research and applications to date, the perioperative mortality rate has remained at 0., significantly reducing the surgical risk.

More notably, in March this year, the National Healthcare Security Administration issued the "Guidelines for the Establishment of Medical Service Price Items for Cardiovascular System (Trial)", which willTricuspid Valve Repair Surgery (Interventional) Included in Service Price Range, paving the way for the clinical popularization of this type of medical device and further improving the accessibility of high-quality medical resources.

This technical strength has long broken through national boundaries and gained widespread recognition in the global medical community.At the beginning of 2025, the K-Clip® system achieved large-scale mass production at the Shanghai Songjiang factory and subsequently successfully entered well-known hospitals in North America, including the United States and Canada.Foreign experts sincerely evaluate it as "game-changing"To date, this product has completed over 300 clinical surgeries globally, with nearly 10% performed overseas.

In terms of intellectual property layout, HuiHe HealthcareAlready Deployed12 PCT international patents, with successful authorizations obtained in the United States, Canada, and the European region., forming a strict patent protection network.

From filling the gap with domestic approval in China, to gaining authoritative recognition through overseas validation, and further expanding market prospects with the support of medical insurance policies, this"The triple guarantee of 'approval in China + overseas validation + market potential' is the core confidence for HuiHe Healthcare to win capital trust."

The Path of Innovative Iteration from Clinical Practice

Every great technological breakthrough originates from a sincere初心 rooted in clinical practice. The story of HuiHe Healthcare begins with the compassion and perseverance of its founder, Lin Lin, as a doctor.

Once, she was a cardiologist at Ruijin Hospital affiliated with Shanghai Jiao Tong University School of Medicine, facing the clinical challenges of tricuspid valve treatment every day.——While aortic valve interventional surgery has been widely applied, mitral and tricuspid valve repairs remain trapped in the constraints of open-heart surgery. Countless patients miss out on treatment opportunities due to being unable to withstand the trauma, and numerous regrets continue to unfold during the diagnosis and treatment process.

This firsthand experience of pain and helplessness became her resolute starting point for transitioning from a doctor to an entrepreneur.

The inspiration for innovation often lies in the subtle details of life.In 2018, during Lin Lin's EMBA studies at CEIBS (China Europe International Business School), an accidental opportunity arose,The Structure of a Wine OpenerIt suddenly dawned on her, and a bold idea sparked in her mind: Could the "sandwich clamping method" replace the complex traditional surgical suture repair of the annulus? Inspiration struck unexpectedly, and she immediately sprang into action, collaborating with classmates to draft the first version of the product design. Thus began a long and arduous journey of research and development.

From Doctor to Entrepreneur: Her Role Has Changed, But Her Original Aspiration to Benefit Patients Remains Unchanged. The Path of Innovation Is Never Smooth, and Every Step Is Saturated with Sweat and Perseverance.

TeamHaving UndergoneMore than 100 version iterations, drawing over 5,000 diagrams, conducting more than 380 large-animal in-vivo trials and over 2,500 product tests,After countless failures and adjustments, one technical challenge after another was finally overcome. Throughout the R&D process, the team consistently practiced"From the clinic, to the clinic"The core logic, in collaboration with the top medical team led by Ge Junbo, an academician of the Chinese Academy of Sciences and director of the Cardiology Department at Zhongshan Hospital Affiliated to Fudan University, to conduct clinical trials.

In April 2021, Academician Ge Junbo successfully completed the first implantation of this product. Academician Ge Junbo's team evaluated it as "It is an interventional surgery product that represents China's innovation level and can go global."”，This recognition is the best reward for the team's countless days and nights of dedication.

This"Clinical Needs - Technological Innovation - Clinical Validation"The closed-loop model ensures that the products always meet the real needs of doctors and patients, and makes every breakthrough full of warmth.

Competition Helps Startups Accelerate Growth

For start-ups, it is not enough to rely solely on internal strength; leveraging high-quality external platforms often leads to accelerated growth. The growth trajectory of HuiHe Healthcare is a testament to this.In 2021, the company won the first prize in the Fourth China Medical Device Innovation and Entrepreneurship Competition with its core technology. This honor is not only an authoritative recognition of its innovative strength but also an important turning point in its growth journey, opening a window for it to access high-quality resources.

The value of such professional competition platforms goes far beyond a mere honorary title. It is more like a"The Growth Accelerator" not only provides enterprises with a core window to showcase innovative achievements, allowing high-quality technologies to be precisely seen by industry experts, senior reviewers, and investment and financing institutions; but also enables efficient resource docking, offering enterprises full-chain services from technical guidance, registration consultation to financing matchmaking. HuiHe Healthcare has gradually expanded its industry influence by leveraging such platform advantages, thereby attracting the attention and investment of multiple capital entities, injecting crucial momentum into technology research and development as well as industrialization advancement.

The experience of HuiHe Healthcare offers valuable insights for countless startup innovation companies:On the basis of consolidating internal core strengths, HuiHe Healthcare actively embraces various professional competitions and scientific innovation platforms. By leveraging platform endorsements to enhance brand recognition and connecting with key resources to address growth challenges such as R&D, registration, and financing, the company can effectively shorten its growth cycle and accelerate its development process.

Eight Rounds of Financing Build a Solid Moat for Development

FromSince its establishment in 2019, HuiHe Healthcare has completed eight rounds of financing, with a total financing amount exceeding 1 billion RMB, from the early seed round to the current D-round financing worth hundreds of millions of RMB – this round of financing was strategically invested by Taiping (Shenzhen) Medical and Health Industry Private Equity Investment Fund Partnership, with follow-up investments from existing shareholders such as Suzhou Sherpa Two Equity Investment Partnership.

Continuous capital support has injected sufficient momentum into the company's development. However, the foresight of HuiHe Healthcare lies in its refusal to be confined to the success of a single product. Instead, with long-term strategic planning, it has built insurmountable industry barriers, laying a solid foundation for sustainable growth.

In the construction of technical barriers, HuiHe Healthcare has demonstrated a clear strategic layout. WithCentering on K-Clip®, extending the layoutMitral Valve Repair System L-Clip, forming a product matrix covering interventional treatment for structural heart disease; at the same time inFields such as vascular intervention and drug deliveryBoth have industry-leading commercialized products, such asChina's First C-Wave® Shock Wave Catheter System with Both Coronary and Peripheral Indications。

In terms of intellectual property protection, as ofMarch 2025,AlreadyApplied for nearlyMore than 260 items, of which over 60% are invention patents，ExistingMore Than 80 Patents Granted，Using a tight network of patents to safeguard the core competitiveness of China's original technology. This approach of multi-point blooming and comprehensive layout has enabled enterprises to gain a solid foothold in fierce market competition.

In terms of industrial layout, the company has established a collaborative model between its Shanghai headquarters and factory, and its Suzhou R&D subsidiary, setting up a Class 10,000 cleanroom.GMP cleanroom facilities and comprehensive experimental platforms enable efficient collaboration between R&D and production. This multi-dimensional moat not only protects the company's existing achievements but also propels its transformation from product innovation to industry leadership.

A Model and Prospect for Innovation in China's High-End Medical Device Industry

The rapid rise of HuiHe Healthcare in the short term is not accidental but an inevitable result of the combined effects of technological innovation, clinical初心, platform leverage, and capital accumulation.

From a doctor's initial compassion to a team's relentless technical breakthroughs; from emerging on competition platforms to gaining global market recognition and trust; from the development of a single product to the strategic layout of an entire industry chain, every step taken by HuiHe Healthcare has been firm and powerful.

The story of HuiHe Healthcare is, for more innovative companies, both an inspiration and a guide:By adhering to market demand-oriented technological innovation, holding a sincere original intention to solve practical problems, actively leveraging platform resources for accelerated growth, and building core barriers through continuous accumulation, breakthroughs can be achieved in the high-end manufacturing field.

For countless entrepreneurs who remain committed to the path of innovation, the present of HuiHe Healthcare could very well be their future.