Jul 28, 2020

Hillhouse’s GL VC Led Brosmed’s Series C to Long Chinese Medical Devices Hillhouse’s GL VC Led Brosmed’s Series C to Long Chinese Medical Devices Brosmed is the first medical device company that Hillhouse’s GL Ventures has ever invested since the inception this year. By Mengyao Zhang Updated 60 minutes ago Image credit: EqualOcean Guangdong Brosmed, a high-value medical device developer, announced the close of Series C of multi-hundreds millions. The investment is led by GL Ventures – the Beijing-based VC arm of Hillhouse Capital, participated by Cathay Capital and Innovative Development Guide Fund for Trade in Services. The deal was completed within four months. As the domestic brand in the coronary artery and peripheral balloon catheter provides a broad spectrum of products covering cardiovascular intervention, peripheral vascular intervention, neuro-intervention and accessory parts. It took fewer than five years for Brosmed to distribute products over 40 countries and regions. So far, the company is the only Chinese brand that provides high-end medical devices in the US, Japan and EU areas. Vascular intervention devices is an upsurge area that many medical giants have a close eye on, including Medtronic (MDT:NYSE), Johnson & Johnson (JNJ:NYSE), Danaher (DHR:NYSE) and Becton Dickinson (BDX:NYSE). As the mini-invasive interventional treatment has become a more popular therapy for cardiovascular diseases (CVD), the market for relevant devices is increasing. It is expected to see heavyweight players come to being soon.