On August 3, Yuanxin Technology Ltd announced the completion of over 1.5 billion yuan financing in its Series F round, with follow-on investment from INCE Capital, which also invested in the D round.
Stella Zhou, a Founding Partner of INCE Capital, noted, “Yuanxin Technology’s full service of ‘hospital-patient-medication-insurance’ will serve users with major pharmaceutical companies and provide more personalized, facilitated, and affordable hospitalization and pharmacy experience. INCE Capital will keep focusing its attention on technology-empowered healthcare service.”
Investors of Yuanxin Technology’s this round of financing include Sequoia Capital, Springhill, B Capital Group, Hel Ved, Orbimed, UOB, Efunds, Ab Initio Capital, BOCI, INCE Capital, CITIC Securities, Kunling Capital, Future Innovation, and Index Capital. Index Capital also acts as the exclusive financial advisor of the investment.
This is another financing of Yuanxin Technology after the D round of financing in June 2020 and the E round of financing in February 2021. It is reported that after this round of financing, Yuanxin Technolgy would further expand its service network for discharged patients and customize the post-visit disease course management system for patients with multiple diseases; accelerate the setting up of digitalized hospital network, build a patient portal with a full cycle of in-hospital and out-of-hospital, online and offline integrated diagnosis and treatment solutions; further develop multi-disease and multi-form health insurance products to meet users’ multi-level medical and health protection demands; built digitalized infrastructure through IT systems and data systems that connect patients, doctors, hospitals, pharmaceutical companies, and insurance.
Founded in 2015, Yuanxin Technology has always adhered to the localized doctor-patient connection as the core and gradually developed businesses including Miaoshou Doctor, Yuanxin Pharmacy, Yuanxin Huibao, Yuanxin Healthcare Technology, connecting doctors, pharmaceutical companies, insurance companies, hospitals, and patients with efficient services.
Currently, the company is building a leading out-of-hospital disease management network and a digital in-hospital intelligent service network, with which it can provide patients with a one-stop payment solution for pharmacy and hospitalization with in-hospital and out-of-hospital connectivity and online and offline integration; provide pharmaceutical companies with digital-driven marketing, sales, R&D, and rehabilitation of patients; provide the doctors with a one-stop solution with academic communication, education and training, multi-sited practices, and rehabilitation of patients; provide insurance companies with full-stack operation solutions including product design, actuarial pricing, assessment and survey, and claims service.
In the post-epidemic era, the fields of medical treatment, medicine, health insurance, and digital economy in which Yuanxin Technology operates are the core themes of consensus in the primary and secondary markets. In the continuous evolution of the evergreen medical and healthcare industry, Yuanxin Technology has always played a leading role, taking the lead in developing an innovative path of “hospital-medication-insurance-patient” model, and constantly unlocking and capturing the industry dividends released from the transformation of the healthcare system. In the process, Yuanxin Technology has continuously precipitated key capabilities and accumulated core resources, which has enabled the new medical value network built by the company to maintain sustained rapid growth and is now firmly positioned at the top in the industry.