Surgical Robot Firm Yuanhua Tech Completes B-Round Financing
On Thursday, Yuanhua Intelligent Technology (Shenzhen) Co., Ltd. (Yuanhua Tech) completed a round-B financing worth several hundred million yuan. The leading investor is Costone Capital, while existing shareholders Shenzhen Capital Group Co., Ltd. and Sequoia China joined in the financing. Other co-investors include several famed investment institutions such as Cash Capital and Wanhui Capital.
Yuanhua Tech was established in December 2018. Positioned as an innovative high-tech enterprise, it focuses on specialized surgical robots across a range of medical departments. In March 2021, it completed round-A financing of 200 million yuan ($31.53 million), with Sequoia China and CMB International as leading investors, and its former shareholder Shenzhen Capital Group Co., Ltd. and Hotland Medical Asset Management as co-investors.
The funds are to be used for the overall commercial application of orthopedic surgical robots, to accelerate the clinical progress of digestive tract products and surgical robots through natural lumens, and to promote the final test and commercial application of the self-developed cooperative mechanical arm.
Gusheng Yuanhua Robot (Shenzhen) Co., Ltd. is a wholly-owned subsidiary of Yuanhua Tech, and is distinguished for the leading total orthopedic surgery auxiliary robot system. This system could assist doctors to complete various orthopedic operations such as knee or hip replacements, trauma and spinal procedures.
In January, 2022, total hip replacement assisted by Gusheng Yuanhua started clinical application, and a multicenter randomized controlled clinical trial was jointly conducted by five hospitals including First Medical Center of the General Hospital of the People’s Liberation Army (PLAGH) and West China Hospital, Sichuan University.
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In terms of product line, Yuanhua Tech has completed the development of digestive tract products and natural cavity surgery robots, will soon finish preclinical research, and will put them into clinical verification.
Regarding core components, Yuanhua Tech has applied the first generation of self-developed navigation schemes in product registration. In addition, it has completed the final test of a new generation of independently-developed navigation equipment and a cooperative manipulator specially designed for orthopedic surgery, and will put them into use within this year.