Xingshulin Secures $32M Series C Funding to Accelerate Commercialization and Global Expansion

On January 27, mobile healthcare company Xingshulin confirmed the official completion of its Series C financing round, raising $32 million. The round was led by Tiancheng Industrial, a wholly-owned subsidiary of the listed company Joincare Pharmaceutical Group, with existing investor Kaiwu Capital participating. Tiancheng Industrial acquired a 14.88% equity stake in Xingshulin for $30 million. This financing round values Xingshulin at over $200 million.

Xingshulin and Joincare Pharmaceutical Group express high expectations for the prospects of this collaboration. Both parties stated that the partnership aims to facilitate more rapid and in-depth cooperation and exchange in the medical and pharmaceutical sectors, expand synergies, and jointly enhance their market influence and core competitiveness in the fields of pharmaceuticals, data, disease management, and related back-end services, thereby jointly advancing the planning and development of the healthcare industry.

Joincare is a specialized, comprehensive pharmaceutical enterprise with business operations spanning four major sectors: active pharmaceutical ingredients (APIs), over-the-counter (OTC) drugs, prescription drugs, and health supplements. The company was listed on the Shanghai Stock Exchange in 2001. Following the venture capital frenzy in the first half of 2015 and the subsequent “capital winter” in the second half, Joincare’s investment in Xingshulin Information Technology (Beijing) Co., Ltd. demonstrates that the concepts and business models of mobile health have begun to gain recognition from both the secondary market and industrial capital.

Zhang Yusheng, founder of Xingshulin, stated that the company’s vision is to provide every physician with a cloud-based ward where they can document medical records, manage patients, engage in peer learning, and deliver services. This aims to enhance physicians’ efficiency, unlock their productivity, and address the imbalance between medical supply and demand in China. Zhang noted that Xingshulin has grown into China’s largest community and collaboration platform for physician development.

Xingshulin announced in June 2015 that it would collaborate with pharmaceutical companies to initiate commercialization, expand into overseas markets, and become China’s first global healthcare internet enterprise.

Six months later, Xingshulin made significant progress in two key areas. On the commercialization front, Zhang Yusheng stated that Xingshulin has established strategic partnerships with multiple pharmaceutical companies, including top-10 multinational pharmaceutical firms and Zhongsheng Pharmaceutical, a domestic leader in ophthalmology. The investment from Joincare Pharmaceutical Group marks a new phase in Xingshulin’s collaborations with pharmaceutical companies, suggesting that its commercialization efforts are poised for major breakthroughs in 2016.

Regarding internationalization, Zhang Yusheng revealed that the international version of Bingli Jia, Medclipper, was officially launched half a month ago and is currently used by doctors in more than 15 countries.



Zhang Yusheng believes that innovation in China’s mobile internet sector is at the global forefront, presenting a historic opportunity for Chinese mobile internet companies to expand internationally. Compared with the United States, China’s mobile internet industry may lag by only one or two years; however, it leads most other regions worldwide, such as Southeast Asia, by at least three to five years. Coupled with the operational capabilities and cost advantages of Chinese enterprises, as well as the extensive overseas backgrounds of this generation of entrepreneurs, mobile internet companies like Xingshulin Information Technology (Beijing) Co., Ltd. possess competitive advantages unmatched by their foreign counterparts.

It is foreseeable that in the coming year, more A-share listed companies will engage in investment and M&A activities within the mobile health industry, while mobile health enterprises with outstanding innovation capabilities will accelerate their internationalization. The mobile health sector in 2016 will continue to thrive, albeit in a manner distinct from that of 2015.