Hengyu Medical Secures Nearly RMB 200 Million in Dual Funding Rounds Within a Year, Igniting Renewed Interest in Vascular Imaging Sector

This enterprise focuses on vascular interventional imaging,Received two rounds of hundred-million-level financing within a year, obtaining over200 million yuanFunds。

Two Rounds of Financing in a Year to Accelerate Technology Commercialization

In early December 2025, Horimed announced the completion of a new round of financing worth nearly 100 million yuan. This comes only about 10 months after the company's last financing round, which exceeded 100 million yuan, drawing widespread attention in the industry.

The new round of financing was led byGuanghua Phoenix, Chengdu Sci-Tech Innovation Investment, and Zhongtian WeiyeCo-investment, with Star Bridge Capital serving as the long-term exclusive financial advisor. Meanwhile,In the February 2025 financing, Horimed obtainedNew Industry Investment, Huatai Zijin, Beiyang Begonia FundInvestment from institutions such as...

The rapid progress of financing reflects the capital market's recognition ofContinuous Confirmation of the Clinical Value of the "Endovascular Imaging Platform Solution".

Zou Feng, a relevant responsible person from Star Bridge Capital, stated:"Guided by clinical needs, the company promotes the iterative upgrading of its product matrix, strengthens its scaled manufacturing capabilities, and accelerates commercial-scale adoption through evidence-based data and key center penetration, gradually building itself into a platform enterprise."

FromThe Medical Revolution from "Blind Operation" to "Ultra-Clear Map"

In the laboratory of Tianjin Airport Economic Zone, a device resembling a laptop is generating images of cardiac blood vessels in real time."Ultra-clear map." This is an independently developed product by Horimed, "IVUS-Note System" - China's First Notebook-Style Intravascular Ultrasound Imaging System。

Horimed Founder Dr. Shi-Yong Zhao Explained:"In the past, doctors performed heart stent surgeries like 'blind operations,' but now with it, it's like having an 'enhanced imaging system' for blood vessels."

The company's core technology mainly revolves around two key intravascular imaging technologies:Intravascular Ultrasound (IVUS) and Optical Coherence Tomography (OCT)。

The core advantage of Horimed lies in its"Dual-Technology Pathway" Parallel CapabilityThe company is one of the few enterprises in China that simultaneously masters the two core technologies of IVUS and OCT, and has developed a dual-catheter system with an IVUS/OCT all-in-one machine based on these technologies.

Each of the two technologies has its own advantages and disadvantages:

• OCT has a higher resolution (up to 10 microns) and can identify vulnerable plaques, but its imaging depth is limited.

• IVUS has high penetrability and can perform deep imaging, but its spatial resolution is relatively poor.

Therefore, a single IVUS or OCT imaging can hardly provide complete anatomical information of the vascular wall and plaque interior.

Huge Market Potential under Precision Medicine

Data shows that the number of coronary heart disease patients in China has exceeded11 million people, with more than 1.6 million percutaneous coronary intervention (PCI) surgeries performed.

It is predicted that ChinaThe number of PCI procedures is expected to increase to 3.698 million by 2030, with a compound annual growth rate of approximately 13.7% from 2021 to 2030. Compared with the rapidly growing number of procedures, the penetration rate of intravascular imaging technology still has significant room for improvement.

Currently, ChinaThe penetration rate of IVUS technology in PCI surgery is 15.4%, while the penetration rate of OCT technology is only 1%.

It is worth noting that,The "2024 ESC Guidelines for the Management of Chronic Coronary Syndrome (CCS)" released by the European Society of Cardiology in 2024 have elevated the application of IVUS and OCT in PCI treatment to a Class Ia recommendation.

Especially when dealing with complex coronary artery lesions, such as left main lesions, bifurcation lesions, and long lesions, intravascular imaging technology can help doctors improve the accuracy of stent placement, reduce the occurrence of postoperative complications, and enhance patients' long-term prognosis.

Multiple Companies Lay Out, Diverse Technical Routes

Horimed is not the only participant in this track.

In December 2024, Grand Pharmaceutical announced that its globally innovative dual-modality intravascular imaging system, NOVASYNC, designed for coronary artery imaging, received a medical device registration certificate from the National Medical Products Administration (NMPA). The system integrates OCT and IVUS imaging technologies, enabling simultaneous, co-directional, coaxial, and co-located display of intravascular ultrasound and optical images.

At the same time, Horimed also announced its self-developedThe IVUS-OCT synchronous imaging device has become the world's first mass-produced "IVUS and OCT dual-mode" intravascular imaging device.

According to the report released by the Hengzhou Bozhi research team, the coronary intravascular ultrasound diagnostic catheter industry is highly competitive globally, with major companies including multinational corporations such as Boston Scientific, Philips Healthcare, and Abbott, as well as domestic enterprises like Sonoscape Medical, Northcore Life, and Horimed.

On this track, in addition to the competition of product performance, product layout, cost control, marketing channels, and service capabilities are equally important.

China Vigorously Supports Innovation in High-End Medical Devices at the National Level

National Medical Products AdministrationThe Announcement on the Release of Measures to Optimize Full-Life-Cycle Regulation and Support Innovation and Development of High-End Medical Devices, issued in July 2025, has injected new policy momentum into the industry.

The announcement focuses on key areas of new quality productive forces such as medical robots, high-end medical imaging equipment, artificial intelligence medical devices, and new biomaterial medical devices, proposing ten major initiatives including optimizing special approval procedures, improving classification and naming principles, and continuously perfecting the standards system.

Particularly noteworthy is that the announcement clearly states that those meeting the requirements“First of its kind in China, internationally leading, and with significant clinical application value"High-end medical devices continue to undergo innovative special reviews, supporting the expedited market entry of high-end medical devices involved in industrial policies such as the high-quality development action plan at the national level."

Against this policy backdrop, China's high-end medical device market is growing rapidly. Zhang Yue, Chairman of Beijing Aoyou International, stated that in recent years, the scale of China's high-end medical device market has continued to expand, with an average annual growth rate exceeding20%。

Future Track: From DiagnosisBreak toExtension of Treatment Layout

With the completion of financing and the maturation of technology, Horimed is expanding its business from the diagnostic field to the therapeutic field.

The company has started to develop an intravascular laser plaque ablation system, utilizing ultraviolet"Cold Laser" vaporizes plaques and thrombi within blood vessels, helping patients improve prognosis. This system aims to provide a solution that is more advanced than existing foreign products and offers a competitive price advantage.

This extension from diagnosis to treatment demonstrates Horimed's strategic layout in its efforts to create an integrated solution for the vascular intervention field. The company is forming a full-chain layout ranging from core components to complete equipment, and from single products to systematic solutions.

With the dual support of capital and policy, vascular interventional imaging companies in China are entering a period of rapid development.

Frost & Sullivan predicts,ToBy 2030, the endoscopy market in China will surpass Japan to become the world's second largest, with a scale of 60.9 billion yuan.。

Backed by Policy Support and Capital Boost, the Vascular Interventional Imaging Sector is Entering a Golden Window for China-Made Substitution. Horimed has built core barriers through dual-technology routes and a full-chain layout extending from diagnosis to treatment, offering clinical settings more cost-effective solutions while showcasing the innovative strength of high-end China-produced medical device companies. In the future, with increased technology penetration and accelerated commercialization, local enterprises are expected to secure a more significant position in global market competition.