Xingxiangyuan Secures Over RMB 100 Million in Series A Funding to Expand Doctor-Led Healthcare Innovation Platform

Signing Ceremony between Shen Farong, Chairman of Xingxiangyuan, and Zhang Jianyang, Deputy General Manager of Jinjiang Group

On June 18, the physician entrepreneurship platform Xingxiangyuan announced in Hangzhou that it had completed an A-round financing of over RMB 100 million, led by Hangzhou Jinjiang Group Co., Ltd.

Founded in April 2015 by Professor Shen Farong, a renowned domestic cardiovascular expert, Xingxiangyuan secured over RMB 100 million in financing on its first anniversary. Today is thus a double celebration for Xingxiangyuan. Meanwhile, at the anniversary ceremony, Xingxiangyuan also signed a strategic cooperation agreement with China National Pharmaceutical Group (Sinopharm).

Signing Ceremony Between Xingxiangyuan and Sinopharm Group

Shen Farong, founder of Xingxiangyuan, stated that the company has grown from a single employee to nearly one hundred, and from its inaugural project to establishing ten subsidiary companies focused on key medical initiatives. Currently, Xingxiangyuan’s services span multiple stages including pre-diagnosis, during-diagnosis, and post-diagnosis, covering the entire spectrum of health management from infancy to old age. The newly established maternal and infant platform aims to optimize medical resources within this sector across the industry. Xingxiangyuan’s development has entered a new phase; moving forward, the company will not only consolidate its existing projects but also deepen its “Healthcare + Internet” model.

According to reports, Zhejiang Province’s pharmaceutical investment is projected to grow by approximately 24% from 2014 to 2020. Zhang Jianyang, Deputy General Manager of Jinjiang Group, stated that the group intends to make strategic investments in the healthcare sector. He noted that the current collaboration between the two parties serves merely as a starting point, with more extensive and in-depth cooperation planned for the future.

As China’s first physician co-creation platform, Xingxiangyuan has been highly sought after by capital markets since its inception. Launched in June 2015, the platform signed a strategic cooperation agreement with Ping An Health’s Zhejiang branch in March of the same year, secured tens of millions of RMB in angel funding in July, and saw its premium health management sub-brand, “Yinian Health,” raise tens of millions of RMB in angel financing in December.

Xingxiangyuan is an umbrella organization for physician groups, having currently contracted with over 100 multidisciplinary experts. Within one year of its establishment, Xingxiangyuan has launched more than ten specialized physician groups, including Yinian Health, Xingxiang Physicians, VIP Gastroenterology, Xingxiangyuan Maternal and Child Care, Vascular Surgery, Pain Management, Urology, and Oncology. Its network spans public hospitals, private hospitals, and vertically integrates with primary care and community hospitals. It is reported that Xingxiangyuan has signed strategic cooperation agreements with multiple pharmaceutical R&D enterprises and research institutions, such as Zhejiang University School of Medicine and Zhejiang University College of Life Sciences.

Hangzhou Jinjiang Group, established in 1993, is a large-scale modern private enterprise group integrating environmental protection energy, non-ferrous metals, and chemical industries with trade. It ranks among the top 100 of China’s Top 500 Private Enterprises.