China surgical robotics player RainMed raises $100m
Ping An Capital has led a Series D round of approximately $100 million for RainMed Medical, a China-based surgical robotics business. Other investors include Seresia Asset Management and Lighthouse Canton.
Founded in 2014, the company specializes in panvascular interventional robotics. Its flagship product is a fractional flow reserve system that assesses the extent to which blood flow through a diseased coronary artery has been impaired and whether stent implantation is required.
The product - which creates up 3D models of the coronary arterial system restored from two angiograms - is the first of its kind to receive approval in China and Europe. RainMed claims the FlashAngio caFFR System is the leading domestic market leader, having been deployed in nearly 1,000 hospitals nationwide.
The company has a microcirculatory resistance (IMR) product - which assesses coronary microvascular integrity - in clinical trials and it is working on a vascular interventional surgical robot that helps doctors identify where to make incisions.
RainMed has two production bases covering more than 6,000 square meters and annual production capacity exceeding one million consumables and 10,000 pieces of medical equipment.
"Ping An Group has a medical and health ecosystem covering 30 provinces, 21,000 medical institutions, and 3,700-plus cooperative hospitals. We will actively support RainMed to improve its commercialization network and accelerate the clinical application of products," said Lin Wang, an investment director at Ping An Capital, in a statement.
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