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新闻
KangHui Medical Raises Series B-1 Extension Round
Funding for domestic acquisitions and international expansion
April 24, 2009
PALO ALTO, Calif./PRNewswire/ -- KangHui Medical, a leading Chinese
orthopedic device company based in Changzhou, China, announced that it
has raised an undisclosed amount in a Series B-1 extension round lead by
Vivo Ventures. As one of the top orthopedic companies in China with
products in the trauma, spine, and joint markets, KangHui is poised to
combine its strong domestic growth with broad international expansion.
This extension round will enable the company to aggressively close
future acquisition deals and expand its distribution reach around the
world.
KangHui is led by Chief Executive Officer, Libo Yang, a former Depuy
executive with experience in both the domestic Chinese and international
orthopedic markets. Dr. Chen Yu, MD, MBA will represent Vivo Ventures by
joining existing investors, IDG VC, TDF, SIG, and CDH as part of the
KangHui team.
“We believe KangHui Medical represents one of the few companies that
have the potential to become a dominant device player in the domestic
Chinese market. With its long history of partnership with the major
multi-nationals and its own strong product line in China, KangHui has
built the leading orthopedic brand in the region. We are excited to join
the outstanding team of investors and management of the company to help
grow the company to the next level,” said Dr. Yu.
“KangHui is pleased to add Vivo Ventures to its investor base alongside
our other premier venture investors. We expect that this additional
financing should allow us to aggressively ramp up our expansion in
2009-2010 for both new technology and distribution into new geographic
regions,” said Libo Yang, CEO of KangHui.
About Vivo Ventures
Vivo Ventures is a life-sciences focused venture capital firm with
offices in Palo Alto, CA and Shanghai, China, with over $650M under
management. Vivo Ventures is currently making investments from its $275M
sixth fund into promising biotechnology and life science companies in
North America, Asia, and Europe. The Vivo portfolio includes more than
60 private and public biotechnology companies in the areas of
biopharmaceuticals, specialty pharmaceuticals, and medical devices.
About KangHui Medical
KangHui is a leading domestic Chinese orthopedic manufacturer with
products in Trauma, Spine, and Joint. In 2008, the company was named to
the top spot of Zero2IPO’s China Venture Company Ranking, the only
medical company to ever receive this distinction. The company
headquarters are in Changzhou, China.
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