Maimai Elder Care Files IPO Prospectus: Scaling from Institutional to Home-Based Smart Elder Care Solutions

“We operate a B2B business, with an overall B2B2C strategy. Our approach is to first develop the most professional institutional elderly care products, then expand into community-based elderly care, and ultimately enter the home-based elderly care market by leveraging our accumulated expertise in institutions and communities.”

Maimai Elderly Care is an “Internet Plus” startup dedicated to developing customized smart care solutions for mid-to-high-end elderly care institutions. Currently, the V1.0 version of its institutional elderly care product centers on a Health Cloud and comprises four components: senior terminals, nurse terminals, family member terminals, and a management platform. This integrated hardware-software solution enables elderly care institutions to achieve comprehensive intelligent management. Meanwhile, through strategic partnerships with leading domestic mid-to-high-end elderly care providers, Maimai continuously optimizes its products and launches smart elderly care solutions tailored for community-based and home-based care.

He Wei, founder and CEO of MaiMai Elderly Care, stated that from the perspective of the actual needs of elderly consumers, what they truly require is neither hardware nor software, but services that can effectively address their practical problems.Maimai Elderly Care began with institutional elderly care to build a robust foundation for future home-based elderly care products and services.“We collaborate with mid-to-high-end elderly care institutions to establish electronic health records for seniors, track the implementation and feedback of care plans, and work with our clients to develop the most personalized and high-quality care solutions, ultimately benefiting the home-based elderly population.”

Its positioning in the mid-to-high-end market was a strategic move aligned with market trends. In September 2013, the State Council issued“Several Opinions on Accelerating the Development of the Elderly Care Service Industry” (commonly known as “Document No. 35”)In the years to come, the mid-to-high-end elderly care market will experience explosive growth. Unlike traditional public-sector elderly care institutions, market-oriented mid-to-high-end facilities place greater emphasis on brand building and service quality. As He Wei stated, “Elderly care institutions that prioritize service quality are all potential partners for MaiMai.”

In institutional elderly care solutions, the core of Maimai Elderly Care’s product offering is its Health Cloud. Centered on the Health Cloud, Maimai Elderly Care has built four components: a senior terminal, a nurse terminal, a family member terminal, and a management platform.Among these, the elderly terminal consists of smart bracelets (watches), wireless fixed call buttons, wall-mounted call buttons, portable call buttons, smart gateways, and smart mattresses, catering to daytime and nighttime usage scenarios for healthy seniors, semi-dependent seniors, and seniors with dementia or disabilities. The nurse terminal comprises smart nurse bracelets (watches), nurse PADs, and all-in-one health data collection devices (for blood pressure, blood glucose, etc.). The family member terminal is a WeChat mobile application, while the management platform includes a TV interface, mobile H5 pages, and a web-based backend.

Although numerous hardware components are involved, the core technology of MaiMai Elderly Care is not merely a simple aggregation of hardware products; all smart devices serve solely as channels for data collection. The collected data is uploaded to the cloud, where intelligent learning algorithms analyze and process the raw data. The resulting outputs deliver product functionalities tailored to diverse application scenarios, such as “fall detection alerts,” “lost person tracking,” and “alerts for failure to return to bed at night.” Consequently, among the 14 technical patents filed by MaiMai Elderly Care with the China National Intellectual Property Administration, seven are invention patents based on machine learning algorithms.

At BMaiMai Elderly Care is committed to helping elderly care institutions address three key challenges: first, reducing operational risks; second, improving service efficiency; and third, building mutual trust between elderly care institutions and the children of residents.

It is reported that Maimai Elderly Care has completed its strategic deployment in key cities such as Beijing, Shanghai, and Chengdu, establishing strategic partnerships with more than 30 leading mid-to-high-end elderly care providers both domestically and internationally, including Vanke, Allianz (Germany), and Fosun Real Estate. The company has launched collaborative projects in Beijing, Shanghai, Chengdu, Kunming, Ningbo, and other regions. Leveraging its presence in these key cities, Maimai Elderly Care is actively expanding its footprint across the national elderly care market.

He Wei, CEO of MaiMai Elderly Care, formerly served as the Head of Sales for China at Aetna, the world’s largest health insurance group. Discussing his rationale for launching a venture in the elderly care sector, He Wei noted that, unlike in Europe, the United States, and Japan, the primary constraint on the development of China’s elderly care industry is a shortage of professional caregivers. The workforce in this sector is generally characterized by advanced age and low educational attainment, creating a significant mismatch with the growing demand for meticulous care among the elderly—a structural imbalance expected to persist long-term. He aims to address this labor shortfall through technological solutions. Furthermore, as children in modern society become increasingly concerned about their parents’ eldercare needs and raise their expectations for their own future care, these emerging trends present valuable opportunities for exploration.

He Wei stated that since 2013, the entire elderly care industry has experienced rapid development, with immense potential for future growth. He expressed hope that more people will pay attention to and support the development of the elderly care sector.

In July 2015, Maimai Elderly Care secured tens of millions of yuan in angel-round funding from Beijing Tongdu Capital. The company is currently undergoing a new round of financing.