Nanjing Beideng (Vedeng) Medical Co., Ltd. (hereinafter referred to as “Vedeng” or the “Company”), a leading B2B platform and provider of supply chain services for the medical device industry, recently announced the completion of a Series B financing round of RMB 100 million led by Sinovation Ventures.

CEC Capital Group served as the exclusive financial advisor of Vedeng in this transaction.

The completion of this financing demonstrates the recognition of Vedeng’s market-leading position and potential for growth in the medical device industry by top-tier domestic investors. The financing also highlights CEC Capital Group’s capabilities as an investment banking advisor in the Industrial IoT + Healthcare industry. With this new round, Vedeng will accelerate the digitization of its supply chain platform; improve localization services; integrate upstream supply chain participants; promote logistics, warehousing, after-sales services, and marketing; expand product categories; and, explore the expansion of sub-specialty markets and overseas markets to ultimately build an online medical device ecosystem that connects the entire industry.

Vedeng has previously obtained multiple rounds of financings from Marathon Venture Partners, Oriental Fortune Capital, Puhua Capital, Zhongwei Fund, Share Capital, Parkland Group, Qingkui Investment and other leading investors in the healthcare and industrial IoT industries.

Vedeng has been engaged in the field of medical device equipment since 2015. Vedeng has made it its long-term mission to make medical device procurement easier, aiming to solve the challenges typically faced by companies in the domestic medical device industry. These challenges include the fragmentation of the industry, traditional and inefficient procurement and sales models, information asymmetry across the ecosystem, and opaque pricing.

Through its B2B platform, Vedeng facilitates transaction activity between upstream medical device manufacturers and downstream distributors and end-user customers at public and private medical institutions, thereby eliminating information barriers, optimizing supply chain resources, and ultimately providing access to cost-effective medical device products for medical institutions. This ultimately drives cost savings and improves the delivery of healthcare services overall.

Over the past 5 years, Vedeng has formed strategic partnerships with more than 300 well-known brands in China and overseas, including Mindray, GE, 3M, Braun, Yuwell, Yi'an, Zhende, The Company now offers more than 20,000 SKU items. The Company has also established the only network in the country that covers 970,000 public and private medical institutions.

The Company has established relationships with more than 10,000 active distributors spanning 300 prefecture-level cities and more than 2,500 districts and counties across the country, providing these distributors with efficient logistics and warehousing, professional after-sales services, flexible supply chain financing, and other services empowering traditional distributors.

The Company has also expanded the base of private medical institutions directly interacting with equipment providers and distributors, and has now partnered with over 20,000 private hospitals, clinics, third-party medical institutions, physical examination centers, and online medical service providers, among others. The Company's e-commerce business has now expanded to over 20 countries and regions around the world.

Vedeng has developed a strong digital platform comprised of front-end marketing and procurement, logistics, after-sales and other services, and product data. The Company's revenue has continued to grow rapidly in recent years, gross profit margin continues to increase, and it has achieved profitability.