Yimaifuture Secures $570 Million Series B Funding Led by Baidu Capital, Files IPO Prospectus

According to VCBeat, on January 30, Yimai Yangguang Imaging Hospital Group announced at a press conference that it had completed a RMB 400 million Series B financing round. The round was led by Baidu Capital, with existing Series A investors Goldman Sachs and Sinovation Ventures increasing their investments. Other participating investors included Zeyue Capital, Huaxin Century, and Huayu Chuangrong, among others. Joyo Capital served as the exclusive financial advisor for this financing round.

 
Yimai Yangguang, co-founded by a group of elites in China’s medical imaging industry, has been in operation for three years. The company is rapidly expanding its market across China and currently holds the largest number of independent hospital imaging center licenses in the country.

“Tight budgets” and “outdated equipment” have long been the pain points in medical imaging reforms across many city- and county-level regions. Leveraging third-party professional institutions to outsource, reengineer, or upgrade radiology department functions is increasingly becoming a common demand among local governments and hospitals. Since the release of the State Council’s “Several Opinions on Promoting the Development of the Health Service Industry” in 2013, governments at all levels have continuously introduced new policies to accelerate the rapid development of third-party medical imaging services.

In response, Mr. Wang Shihe, founder of Yimai Yangguang, has transitioned from a “traditional physician” to a “transformative entrepreneur.” With nearly 25 years of experience in China’s medical imaging industry, he has developed a profound understanding and extensive practical expertise in the innovative “1+2 Model” for the development of medical imaging centers in China. This model entails establishing a regional medical imaging consortium based on third-party medical imaging centers, linked by a medical imaging cloud platform, and supported by a Medical Imaging Academy for professional guidance, all tailored to regional healthcare resource allocation, medical capabilities, and patient needs.

Medical Imaging Center: Yimai Yangguang Medical Imaging Center responds to the national regional healthcare planning and tiered diagnosis and treatment system. With medical institutions as its primary service recipients, it adopts group-based and chain-operated development as its core model. By deploying appropriate equipment and medical technical personnel in cities, counties, and townships according to local needs, it provides robust support for the tiered diagnosis and treatment system, promoting the advancement of precision medicine through accurate diagnostics.

Medical Imaging Cloud Service Platform: The independently developed “Yimai Cloud” medical imaging platform organically connects imaging centers across China. While enabling high-quality radiologists to serve various imaging centers, it implements functions such as cloud storage of medical images, remote consultation, quality control, multidisciplinary team (MDT) consultations, and big data applications. This allows residents in grassroots communities to access high-quality examinations and precise diagnoses locally.

Yimai Yangguang Medical Imaging Academy: The Yimai Yangguang Medical Imaging Academy will serve as the Group’s training base for medical, technical, nursing, and management personnel. At this stage, it focuses on standardized training and continuing education, and is progressively being established into a training and research institution with a strong faculty and comprehensive professional programs.

By establishing its three major business systems, Yimai Yangguang has integrated with the tiered diagnosis and treatment framework to build a medical imaging medical consortium group with core competitiveness, thereby restructuring the value chain of the medical imaging industry. Currently, the Yimai Yangguang Medical Imaging Center network covers regions including Beijing, Jiangxi, Zhejiang, Shandong, Guangxi, Guangdong, Liaoning, Jilin, Hubei, Hunan, and Inner Mongolia, serving over 10,000 patients daily. It has gained widespread acclaim and recognition from medical institutions, local governments, and patients across these regions.

 
As the pioneer of third-party medical imaging centers in China, Yimai Yangguang has ushered in a dynamic new chapter in the innovative reform of medical imaging. Over the past three years, Yimai Yangguang has established dozens of offline medical imaging centers, built the Yimai Cloud Platform hosting a cumulative total of 1 million imaging records, and founded the Medical Imaging Academy, which has trained thousands of radiologists. Following the completion of its Series B financing, Yimai Yangguang will continue to focus on the deep integration of medical operations, talent, and technology, underpinned by its core strategic objective and support system of “Imaging Leading Clinical Practice, Serving Clinical Needs,” to build a version 2.0 leading third-party medical imaging group in China.
 
Mr. Wang Shihe, founder of Yimai Yangguang, stated that “imaging leads clinical practice” is the company’s core mission. To drive clinical advancements through progress in medical imaging, Yimai Yangguang will not only continue to expand its network of imaging centers but also place greater emphasis on talent development and technological innovation in the field of medical imaging. The collaboration with Baidu Capital and other renowned Chinese investment institutions will further accelerate the integration of medical expertise, technology, and human resources, as well as the consolidation of online and offline medical imaging services. This partnership provides significant momentum for Yimai Yangguang’s ambition to build China’s largest and most influential group of specialized imaging hospitals.
 
Baidu Capital stated that medical imaging is a critical component of clinical healthcare, and third-party imaging centers represent a sector encouraged by national policy. After three years of rapid development, Yimai Yangguang has become China’s leading third-party medical imaging group, laying a solid foundation for its continued industry leadership. Baidu Capital holds strong confidence in Yimai Yangguang’s professional team and broad growth prospects. It also sees significant potential in the application of artificial intelligence (AI) within the medical imaging field. As Yimai Yangguang possesses both the most extensive sources of medical imaging data and the optimal application scenarios for AI, Baidu Capital will support the company’s technological upgrades in AI, big data, and cloud computing, comprehensively enhancing operational efficiency and the level of intelligent diagnosis.

Goldman Sachs Managing Director Zhang Kaixun stated that the Goldman Sachs team remains bullish on China’s third-party medical imaging center industry, viewing it as one of the most promising segments within the country’s healthcare services sector. Goldman Sachs’ continued increased investment in Yimai Yangguang underscores its confidence in the company’s ability to maintain its industry leadership and become China’s leading and largest third-party medical imaging group. Yimai Yangguang has built a solid moat for its future growth by integrating offline medical imaging centers, an online cloud service platform, and a professional medical imaging academy.
 
Haoyue Capital stated that since its establishment three years ago, Yimai Yangguang has maintained a leading position in the medical imaging sector, ranging from pioneering innovations in the third-party medical imaging center model—leading the way across China—to demonstrating business foresight by targeting extensive local markets with the greatest need for third-party medical imaging services. Following this recent investment from Baidu Capital and others, it is believed that Yimai Yangguang will not only sustain its leadership in the number and scale of imaging centers but also intensify its efforts in technological innovation, data integration, and intelligent diagnostics within the field of medical imaging.