Beijing-based CASH Capital (Beijing) Investment Management Co, Ltd., an investment arm of the Chinese Academy of Science Holdings, and Legend Capital have led a series B round worth tens of millions RMB in a medical device supply chain service provider.
According to Chinese media reports, Northern Light Venture Capital, Aeon Life, Frontline Bioventures and Blue Ridge China also participated in the round in Guoke Hengtai (Beijing) Medical Technology Co., Ltd.
The Beijing-based company focuses on providing third-party supply chain services to high value medical devices in China.
"Medical devices is full of potential in China," says Liu Bing, founder of Guoke Hengtai (Beijing) Medical Technology. "(We) optimize resources allocation and help suppliers, logistics companies and medical firms to achieve efficiency."
In China, the medical devices market is fragmented and dominated by small companies, unlike in more developed countries where large consolidated players can efficiently manage logistics and supply chains.
CASH manages several billion RMB across numerous venture capital and private equity funds.