Shandong Cansun Medical Completes ￥100M Series C Financing

(VCBeat) Feb. 9, 2021 -- Recently, Shandong Cansun Medical Device Co., Ltd. ("Cansun Medical") announced that it has raised more than RMB 100 million in a Series C investment round of more than RMB 100 million, led by Cowin Capital, with participation from Oriental Fortune Capital, Jiequan Development, Shanghai Yuhan Equity Investment Fund, Suzhou Weikang Gene and others.

The latest round is another strategic financing of Cansun Medical after the Series B financing from Shenzhen Capital Group in January 2020.  The funding will be used for the R&D, production and sales of foraminal mirrors, orthopedic consumables of artificial joints and sports medicine products.

Cansun Medical, located in Shandong Tai'an City, was established in late 2010. After nearly five years of preparation, product R&D, clinical registration, production, etc., Cansun Medical started to sell its products in the domestic market. The company focuses on the R&D, production and sales of orthopedic medical devices. Its main products include orthopedic implants (of spine, trauma, joints, and sports medicine) and orthopedic surgical instruments.

As the freshman in the domestic orthopedic market, after rapid development in recent years, Cansun Medical has advanced products with high quality and strong market competitiveness. At the end of 2019, Cansun Medical achieved a revenue of one hundred million yuan. Its products have been applied in more than 1000 general and orthopedic hospitals in China, including Sichuan West China Hospital, Qilu Hospital of Shandong University, and Xiangya Hospital Central South University. Its sales network covers 28 provinces, municipalities, and autonomous regions.

Cowin Capital Group was established in 2000 and has invested more than 300 companies, of which 60 more became public companies, and 150 more successfully exit. It focuses on investing in pioneering enterprises with steady developmenton long-term basis.

Founded in 2006, OFC manages 42 funds with AUM of more than 20 billion yuan. OFC invests in small and medium-sized growth-oriented companies. Its funds cover five industries: Telecommunication, Media & Technology (TMT), Green Technology, New Material & Advanced Manufacturing Technology, Healthcare, and Entertainment & Consumption. The company invests in various business development stages through the angel, venture capital, and private equity investment vehicles.