Huizhen Bang Bags over ￥10M in Series A Financing

According to VCBeat, recently, Huizhen Bang, a service platform supporting the discipline construction for grassroots hospitals, announced that it had raised tens of millions in Series A round of financing with participation from well-known investment firms. Tianchao Capital served as the exclusive financial adviser. Prior to this, Huizhen Bang also obtained the investment of Legend Star, Yiyi Capital and others.

Huizhen Bang focuses on providing discipline construction services for primary hospitals and comprehensively improving the medical services of primary departments through the assistance of medical treatment, education and scientific research. Proceeds from the latest round will be used for technology development and the construction of a shared laboratory.

Cheng Youshuang, the founder of Huizhen Bang, believes that discipline construction is the foundation of a hospital's development and a part of its core competitiveness. He said, "Only after a systematic construction of hospital departments in terms of medical services, teaching talents and scientific research strength can the disciplines of grassroots hospitals be improved."

Huizhen Bang regards itself as a third-party medical service organization to improve medical technology, increase the business volume of primary hospitals, and promote the scientific research level of primary hospitals.

By May 2020, Huizhen Bang has completed the standardization and expansion of business in different places. It has cooperated with 23 hospitals, with nearly 50 involved departments, helping them greatly reduce the referral rate and save social resources. The total contract price has exceeded 132 million yuan, and the renewal rate is 100%. 

Legend Star helps entrepreneurs create great businesses through investments, CEO training sessions, and an entrepreneurs alliance. Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated into the Chinese entrepreneurial ecosystem.

Legend Star is the independent early-stage investment arm of Legend Holdings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies.