Universal Medical Snares ￥600M in Series B Financing

According to lieyunwang.com, Shanghai-based Universal Medical Imaging Diagnostic ("Universal Medical") has secured over 600 million yuan (US $86 million) in its Series B round, led by CEC Capital-owned industrial fund, Cathay Capital, and V Star Capital, an investment management spinoff from GGV Capital, with participation from other investors include state-owned Tianjin Teda Group and JuneYao-backed GT Capital while existing investor Tianjin Hidea Investment Management Co., Ltd also infused money.

Proceeds of this financing will be used to build its operations network and also to enhance the network of its operations and its supply chain management.

Founded in June 2015 with the registered capital of 201.27792 million yuan, Universal Medical has more than 60 talents with senior titles such as doctor, professor and chief physician. In addition, it cooperates with Siemens and GE in the field of image diagnosis, training imaging doctors for hospitals around the world.

Universal Medical is the pioneer of the independent third-party imaging center in China. The company focuses on imaging diagnosis of difficult diseases, providing accurate imaging diagnosis services, health examination services, multidisciplinary joint consultation and other individual medical services for patients.

Universal Medical has "Multi-Mode" imaging screening equipment -- PET/MR, which can screen the whole body for a variety of benign and malignant tumors, cardiovascular and cerebrovascular diseases and neurological diseases. It is also equipped with PET/CT, flash dual-source spiral CT, MR (magnetic resonance) and so on.

Cathay Capital is a leading international private equity firm active in cross-border investment. It supports the international expansion of middle-market companies in North America, China and Europe. Its team of 60 professionals based in New York, Shanghai, Beijing, Paris, Munich, and Silicon Valley leverages Cathay's business model and platform to create value for companies. With more than US$1.5 billion in assets under management, Cathay Capital has completed buyouts and growth capital investments in 59 platform companies across three continents.

Founded in 2016, V Star Capital manages 5 RMB funds and 1 USD fund, mainly focusing on health care, smart technology plus ("new drivers plus"), consumption upgrade, TMT, etc., with the investment stage covers early stage and growth stage.