Banger Orthopedics Secures Over RMB 300 Million Series C Funding Led by Qiming Venture Partners to Build China's Leading Orthopedic Medical Service Provider

VCBeat (WeChat ID: vcbeat) has learned, May 9, 2018,Zhejiang Bang'er Orthopedic Medical Group Officially Announces Completion of Series C Financing, Raising Over RMB 300 Million from Venture Capital Firm Qiming Venture Partners

Zhejiang Bang’er Orthopedic Medical Group is a renowned professional hospital investment and operator in the Yangtze River Delta, specializing in orthopedics and rehabilitation. Its affiliated hospitals are specialized or small-scale general hospitals featuring diagnosis and treatment in trauma orthopedics, hand and foot surgery, spinal surgery, joint surgery, traditional Chinese medicine orthopedics and traumatology, and rehabilitation.

In 2014, Bang'er Group attracted the interest of the renowned overseas investment firm State Street Capital (US), securing its initial investment of nearly RMB 100 million. In 2016, Bang'er Group formally signed an Investment Agreement with the Jinpu Medical Health Services Industry Equity Investment Fund, with State Street Capital decisively participating in the follow-on investment, bringing the total Series B financing to over RMB 200 million.

After nearly three years of rapid development, Bang'er Group has evolved from its initial five specialized hospitals into a large-scale, internationalized, informatized, high-quality, and chain-operated medical investment group that holds controlling interests in and operates 12 orthopedic specialized and general hospitals.

Bonair Group’s Series C financing round was launched in 2017. To further advance Bonair Group’s specialized and in-depth development in the healthcare industry, the Group prioritized seeking investment from funds with a specialized focus on healthcare. Qiming Venture Partners conducted comprehensive due diligence on Bonair’s business operations, risk management, financials, legal affairs, and team. Qiming highly recognized Bonair’s core healthcare value proposition, business model, risk control system, and management team.In 2018, a strategic partnership was officially established, with the Series C funding round exceeding RMB 300 million, once again ushering in a new chapter in the integration of private healthcare and the capital market.

On May 9, at the press conference for Bang’er Group’s Series C financing round, relevant executives and representatives from Zhejiang Bang’er Orthopedic Medical Group and Qiming Venture Partners attended and delivered keynote speeches.

Qiming Venture Partners Managing Partner Hu Xubo stated: China's healthcare services industry is currently undergoing a significant transformation. Bang'er's founders and management team possess profound insights into medical technology, operational management, and customer service, along with a long-term commitment to these areas. We are highly optimistic about Bang'er. Throughout our due diligence, we were first drawn to Bang'er's technological advantages in orthopedics; meanwhile, its current focus on grassroots cities aligns closely with the national tiered diagnosis and treatment framework.

Furthermore, Boner has established a group-level development and operational management system, and will continue to deploy its medical technologies and clinical services in more cities in the future.We look forward to collaborating with Boner, with the aim of jointly establishing China’s leading enterprise in orthopedic medical services.

Cheng Dong, Founder and Chairman of Bang'er Group, stated: Bang’er’s present achievements have been hard-won. From a one-person startup in 2006, it has grown into a professional team of over 3,000 members. Currently, the group operates approximately 3,500 hospital beds, performs more than 20,000 surgeries annually, and holds controlling interests in or directly manages 12 orthopedic specialty and general hospitals. Having alleviated the suffering of nearly one million patients, Bang’er has established a solid foundation for rapid replication in areas such as expert talent pipelines, medical technology, operational models, brand building, and hospital management. With five distinct specialties—orthopedic trauma, spine surgery, joint surgery, hand surgery, and rehabilitation—the company has become a leading private specialty hospital brand in China, recognized for its large scale, strong capabilities, and excellent reputation.

The successful completion of this Series C financing will accelerate Bang’er’s comprehensive expansion in the East China market and its gradual rollout across China, providing significant momentum for the company’s new phase of development.

The successful completion of this Series C financing represents a key strategic milestone in Bang’er’s development. Seizing this opportunity, Bang’er will adhere to its mission of “Excellence in Medicine and Sincerity in Serving the Public; Outstanding Innovation for Quality Achievement,” further refine its healthcare system, and deliver more efficient, safer, and more convenient medical and health services to the general public.