Yosemite Clinic Completes Tens of Millions RMB Series A Funding Led by Legend Capital, Launches China's First Independent Ambulatory Surgery Center

Yosemite Clinic (YC) established China’s first independent ambulatory surgery center, which opened in Pudong, Shanghai, last November. As the 2017 Spring Festival approached, the newly founded Yosemite Clinic announced the successful completion of its Series A financing round, raising tens of millions of RMB. Investors included Legend Capital, Licheng Asset Management, and Zhengqi Investment.

Following the completion of its Series A financing, YC has secured over RMB 100 million in capital to sustain its growth and expansion. Leveraging its competitive advantage in professional services led by medical professionals, YC will further collaborate with various healthcare stakeholders to expand its core business of daytime minimally invasive surgeries and deliver high-quality, accessible medical care.

Legend Capital served as the lead investor in this round. With over a decade of strategic presence in the healthcare sector, Legend Capital established a dedicated investment team focused on health and medical care in 2010. As a leading investment firm in the healthcare industry, it has invested in nearly 50 medical projects over the past eight years, with a total investment volume exceeding USD 400 million.

“China’s healthcare industry will maintain a double-digit growth rate for the long term, gradually becoming the world’s largest market,” said Ouyang Xiangyu, Managing Director at Legend Capital. “Factors such as the opening of the medical services sector to private and foreign investment, the widespread adoption of commercial health insurance, and policy dividends from national initiatives encouraging physicians to practice at multiple institutions will drive the development of China’s medical services sector. Legend Capital has always been optimistic about medical services. YC Medical Group was the first in China to establish an integrated day-surgery center model based on mature international operational practices, featuring convenient medical services. Their emphasis on the quality of medical care itself, their commitment to ethical and trustworthy healthcare, and the novelty and originality of their business model were the key reasons that attracted our investment decision.”

Regarding the investment in Usmile Medical, Dr. Cheng Yiquan, Chairman of Licheng Asset Management, stated, “We only invest in the best. Usmile Medical aligns with Licheng Asset’s consistent investment logic in specialized healthcare sectors. Their professional team, thorough project preparation, high-standard operating rooms, and comfortable observation wards all constitute a solid operational foundation.”

Another investor introduced this time is Zhengqi Financial, a member enterprise of Legend Holdings. Li Dehe, Vice President of Zhengqi Financial, stated, “Zhengqi Financial’s vision is to provide financing and intellectual support to high-quality startups, becoming a partner for win-win cooperation. We are very optimistic about the founding team and future development of Usmile Medical. An excellent healthcare institution must first possess an outstanding team of physicians, a warm and welcoming clinical environment, meticulous service philosophy, comprehensive service processes, and state-of-the-art medical equipment. We believe Zhengqi Financial can bring momentum and support in these areas, and we look forward to working with Usmile Medical to deliver high-quality medical services and achieve co-created value.”

Dr. Ke-Ying Song, MD, Founder of Usmile Medical and Overseas Returnee from the United States

“U-Smile Medical extends its heartfelt gratitude to our investors for their robust support, which has empowered us to realize our vision and build a high-quality platform dedicated to serving more outstanding physicians from both domestic and international markets, as well as providing better care for patients,” said Dr. Song Keying, founder of U-Smile Medical and a returnee scholar with a medical degree from the United States. “As more distinguished physicians enter the private healthcare sector, deep-seated trust between doctors and patients will be established through high-quality medical service models, thereby driving the advancement of healthcare services. Our newly established Ambulatory Minimally Invasive Surgery Center enables patients requiring surgical intervention to complete the entire process—from consultation and hospitalization to surgery, postoperative recovery, and discharge—within one to two days using minimally invasive techniques. In some cases, patients do not even need to stay overnight in the hospital. Over four decades of development in European and American healthcare institutions have demonstrated that this is a safe and reliable surgical model. In the near future, this form of medical care is expected to become an integral component of the national healthcare system.”