Medical Devices Company Maidi Dingfeng Closes￥1 Billion Series C financing

(VCBeat) Dec 31, 2020 -- Beijing Maidi Dingfeng Medical Technology Co., Ltd. ("Maidi Dingfeng") announced closing a Series C financing worth over RMB 1 billion, jointly led by Tsing Song Capital and Orchid Asia Group, with participation from Winsdom Capital, Yuexiu Industrial Fund and Vigintillion Capital. Tririver Capital acted as the exclusive financial adviser for the latest round. The transaction is one of the largest this year in the medical device sector.

The funds are earmarked for the upgrade of production lines, R&D, clinical trials and registration of products, and sales network expansion and marketing, so as to better serve patients' needs for high-quality medical devices and high-end consumables.

Meng Jian, the founder of Maidi Dingfeng, said, "We are very honored to receive the recognition and support from well-known investors at home and abroad and all the existing shareholders. Through independent innovation, Maidi Dingfeng has mastered the core technologies in the fields of surgical treatment of atrial fibrillation, interventional treatment of congenital heart disease, and tissue and organs repair, filling the technical gaps in the treatment of related diseases inside and outside the country."

He added, "The company has successfully developed 19 innovative products, of which 11 products have been approved by NMPA, and 3 products have obtained CE mark. A number of products of Maidi Dingfeng are unique in China, with the technology leading the world, including the only substitute of imported products for the surgical treatment of atrial fibrillation and interventional treatment of congenital heart disease in China."

Tsing Song Capital is a professional private equity firm focused on biotechnology and healthcare. The company is committed to growing with innovative biopharmaceutical companies and accelerating the development of China's life sciences and healthcare industry. 

Tsing Song Capital is deeply engaged in the cross fields of biotechnology, medicine, medical devices, innovative medical services, as well as the big health industry and cutting-edge technologies.

Orchid Asia Group is an investment group with offices in Hong Kong, Shanghai, Beijing and Guangzhou. The company invests in expanding domestic enterprises in high barrier to entry businesses that have good growth prospects in the consumer services and products sector, as well as the outsourced manufacturing and services sector.