Caring Medical Completes Over RMB 100 Million Series C+ Financing to Accelerate Global Business Expansion

Recently, Guanhuai Medical announced the successful completion of its C+ funding round, raising over RMB 100 million. This marks the company’s second financing closure within three months. The round saw participation from investors including Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.), Beijing Jianxin Private Equity Fund L.P., and Shunbai Capital, with Bairong Capital serving as the exclusive financial advisor for this financing round.Following this round of financing, Guanhuai Medical will continue to solidify its leadership position in the membrane industry, accelerate market promotion both domestically and internationally, and expand the company’s commercial footprint. Previously, the company secured Series A funding led by Sunshine Ronghui Capital; Series B funding jointly led by Boyuan Capital and Sherpa Partners; and Series C funding led by China Life Equity Investment, with follow-on investment from CICC Qide Fund under CICC Capital.

Guanhuai Medical, established in 2019 and located in the Suzhou Wuzhong Comprehensive Bonded Zone, is dedicated to creating comprehensive membrane-based solutions. Its membrane products serve high-end biomedical sectors such as gene therapy, vaccine production, and antibody drugs; address the mature blood purification market and the highly promising ECMO market; and also cover the water treatment market as well as the filtration consumables market for food and beverages.

Following the end of the pandemic in early 2023, the recovery of international freight transport stabilized lead times for overseas suppliers, while the resumption of flights enabled Chinese enterprises to implement their “going global” strategy.In response to the market environment characterized by “recovering overseas demand + intensifying domestic competition,” Care Medical’s marketing and sales teams responded swiftly, advancing in both domestic and international markets while implementing a business strategy driven by the dual engines of “biopharmaceuticals + blood purification” products.On one hand, Guanhuai Medical, with its comprehensive portfolio of products for blood purification and biopharmaceutical membranes and filters, actively participates in major domestic exhibitions to launch and promote its flagship filter products. On the other hand, it swiftly expands into international markets, bringing Guanhuai’s products and integrated solutions to countries and regions worldwide, thereby showcasing the premium quality of Chinese manufacturing, enhancing brand visibility, and solidifying its brand image.

Domestic Market:Guanhuai Medical Showcased Biopharmaceutical Filters and Blood Purification Devices at Multiple Domestic Exhibitions (Annual Academic Conference of Nephrology of the Guangdong Medical Association, The 8th ETC Bio-Industry Conference, 2023 Annual Meeting of the Nephrology Branch of the Sichuan Medical Doctor Association, The 22nd Chinese National Conference on Biological Products, The 87th China International Medical Equipment Fair, 2023 Summit on Biopharmaceutical Process Development, The 5th China Cross-Border Integration Summit Forum on Kidney Diseases, etc.). The company engaged in exchanges with customers and industry experts in the fields of biopharmaceuticals and blood purification, and its products garnered significant attention from renowned companies and professionals in the industry.

Overseas Market: Since the beginning of the year, Care Medical has showcased its core products and solutions in the fields of blood purification and biopharmaceuticals at multiple overseas bioproduct exhibitions.(the 48th Arab Health International Medical Equipment Exhibition, the International Society of Nephrology (ISN) World Congress of Nephrology (WCN), the 30th Turkey International Medical Devices Exhibition Expomed Eurasia, the Brazil Healthcare Exhibition “HOSPITALAR”, the 60th European Renal Association (ERA) Congress, the Malaysia Medical Devices and Rehabilitation Healthcare Exhibition, etc.). At the exhibitions,As a pioneer in the field of biopharmaceutical filters and hemodialyzers in China, Care Medical has garnered significant attention from overseas clients. Following recent exhibitions, numerous international clients have visited Care Medical’s headquarters in China to advance cooperation initiatives.

Guanhuai Medical focuses on the research and development of membrane-related biomedical materials, starting from upstream raw materials.On July 19, 2023, the Ministry of Industry and Information Technology of China, in collaboration with the National Medical Products Administration, announced the shortlisted entities for the first batch of the “Open Competition” initiative for innovation in biomedical materials. Guanhuai Medical, together with its invested company Shenlan Technology, led two innovative tasks (medical-grade polyethersulfone and medical-grade polysulfone) and participated in one innovative task (ECMO raw material: poly-4-methyl-1-pentene), making it one of the few enterprises on the list to lead or participate in multiple innovative tasks.

In addition to the upstream raw materials sector, Guanhuai Medical has remained committed to the research and development of innovative end-user blood purification products.Zhuduo Guanhuai’s independently developed innovative blood purification products are expected to sequentially obtain certification from the National Medical Products Administration (NMPA) and enter the market in the coming years. The company aims to significantly improve patients’ quality of life and extend the dialysis vintage of dialysis patients, while simultaneously alleviating the financial burden on the national medical insurance system.

As a leader in China’s membrane industry, Guanhuai Medical has always prioritized R&D innovation and adhered to a full-industry-chain layout. In terms of sales strategy, the company will consistently implement its “going global” policy by actively expanding overseas operations. It aims to comprehensively showcase its one-stop solutions, underpinned by full coverage of the membrane industry chain, to international clients. By establishing a benchmark for independent, Chinese-developed membrane industry solutions, Guanhuai Medical is committed to advancing the goal of “Intelligent Manufacturing in China” within the membrane sector.

Regarding the success of this financing round, Li Xiaofeng, Chairman of Guanhuai Medical, stated, against the backdrop of a capital winter, we extend our sincere gratitude to GaoKe Xinjun, Jianxin Equity, and Shunbai Capital for their strong recognition. We also thank our existing shareholders—China Life Equity Investment, CICC Qide Fund under CICC Capital, Boyuan Capital, Sherpa Investment, Sunshine Ronghui, Keytone Capital, and Wuzhong Biopharmaceutical Industry Investment—for their steadfast support. Guided by our mission of “Caring for Life, Focusing on Innovation,” we will continue to contribute to the development of China’s healthcare industry!

Zhu Jin, Managing Director of Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.), stated“Hemodialysis represents a significant healthcare burden globally, and there is a shared demand across global healthcare payment systems to provide dialysis patients with higher-performance, more cost-effective products. The management team at Guanhuai Medical possesses diverse expertise, having integrated the entire dialyzer industry chain—from upstream materials science and production equipment to manufacturing process optimization—thereby laying a solid foundation for scaled production and product iteration. Building on its core hemodialysis business, the company has proactively expanded into membrane filtration products for the biopharmaceutical sector during the pandemic, establishing comprehensive R&D, production, and manufacturing capabilities across the entire value chain. We believe that under the leadership of the two Mr./Ms. Lis, Guanhuai will ultimately achieve technological revitalization of China’s membrane industry, provide reliable medical security for dialysis patients worldwide, and safeguard global pharmaceutical manufacturing processes.”

Jianxin Equity stated: In the field of healthcare investment, CCB Equity has consistently focused on innovation and supply chain security within China’s biopharmaceutical industry. Starting from the key technical links in membrane production lines, Guanhuai Medical has achieved breakthroughs in the underlying technologies of spinning and raw materials, while also pioneering expansion into the field of biopharmaceutical filtration. This investment in Guanhuai Medical reflects CCB Equity’s recognition of the company’s advantages in membrane science. It also aims to continue supporting the company’s product line layout in this field, further facilitating the self-controllability of the domestic biopharmaceutical membrane supply chain and promoting import substitution with domestically produced alternatives. Meanwhile, CCB Equity will leverage the comprehensive financial service advantages of the China Construction Bank Group to provide synergistic empowerment to the company.

Shunbai Capital stated“Starting from foundational technologies and building strength through sustained accumulation, Guanhuai Medical stands out as the only potential ‘Membrane King’ among numerous membrane-related companies in the market, achieving full industry chain coverage from raw materials to production lines and final products. Whether in the highly watched biopharmaceutical sector, the mature dialysis industry, or even areas such as ECMO and water treatment, Guanhuai has established comprehensive coverage with membrane-related solutions and filter products. We will leverage the excellent market resources of Shunbai Capital to empower Guanhuai Medical, accelerating the company’s commercialization progress. We look forward to seeing Guanhuai Medical take its full range of membrane-related solutions beyond China and onto the global stage.”

Gaoke Xinjun Capital was established in 2015 and is headquartered in Shanghai. It is a market-oriented equity investment institution founded with limited partner contributions from listed companies such as Nanjing High-Tech. The firm has managed cumulative assets of approximately RMB 4 billion and has invested in nearly 50 technology enterprises to date. Its latest fund primarily focuses on the healthcare, new energy, and new materials sectors. Healthcare portfolio companies backed by Gaoke Xinjun include Allist Pharmaceutical (688578), Bioprocess (301080), Hualan Medical Packaging (301093), Rendu Biology (688193), Yimai Yangguang, Jiangeng Pharmaceutical, and Zhengya Dental. Committed to an international investment perspective and management approach, Gaoke Xinjun strives to identify top-tier entrepreneurs and innovative business models, help companies build resource ecosystems for growth, seize opportunities arising from China’s economic transformation and technological revitalization, and create new benchmarks for China’s technology industry.

CCB Equity Investment is a specialized subsidiary of China Construction Bank (CCB) engaged in private equity investment. Serving as CCB Group’s equity investment platform and the nexus for its investment-lending linkage, it supports the development of national strategic emerging industries by managing multiple funds and leveraging CCB’s comprehensive financial service capabilities.

Shunbai Capital is an investment institution focused on the healthcare sector, primarily operating as industrial capital. It leverages its exceptional ability to integrate market resources to accelerate the growth of healthcare enterprises. Shunbai Capital boasts a distinguished investment team proficient in diversified investment strategies, with a dedicated focus on the healthcare industry, covering areas such as medical devices, healthcare big data, medical services, and cell therapy.

Bairong Capital is a research-driven financial advisory firm focused on the healthcare sector, dedicated to helping medical enterprises achieve rapid growth through extensive transaction experience and providing investment institutions with insights into valuable investment opportunities through rigorous, in-depth research. Bairong Capital’s areas of focus cover multiple healthcare sub-sectors, including healthcare services, medical devices and consumables, in vitro diagnostics (IVD) and precision medicine, biopharmaceuticals, and healthcare informatics. The core team at Bairong Capital comprises professionals from top-tier consulting firms, renowned investment banks, and accounting firms.