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Lange Medtech® Closes New Billion RMB Financing Round with China Renaissance as Exclusive Financial Advisor

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Lange Medtech® Closes New Billion RMB Financing Round with China Renaissance as Exclusive Financial Advisor

Shanghai Legend Medical Co. Ltd. (Lange Medtech®) has formally introduced Decheng Capital to complete a new round of investment of 100 million yuan, with China Renaissance acting as the exclusive financial advisor in the transaction.

Lange Medtech® Group

Lange Medtech® specializes in the R&D of minimally invasive orthopedic products, especially in the field of minimally invasive spine, and is committed to providing total solutions for minimally invasive spine. The core team of Lange Medtech® is deeply committed to China's orthopedic industry, with more than 15 years of experience in the industry, mainly from domestic and international leading companies in this field, such as MicroPort, Johnson & Johnson, etc. The team is committed to developing diversified   products through deep cultivation of technology and industry understanding, including minimally invasive spine surgical consumables, intervertebral scopes, bone cements, and power platforms. These products cover the fields of OVCF treatment for osteoporotic vertebral compression fracture, endoscopic spine treatment for simple disc pathology, and arthroscopic minimally invasive treatment. Meanwhile, we have applied for more than 30 patents and have obtained 16 medical device registration certificates, including 4 Class III registration certificates and 12 Class II registration certificates. Since 2018, our company has successively obtained a number of qualifications and titles, such as Shanghai High-tech Enterprise, "Specialized and New" Enterprise, and Shanghai Standardization Pilot.

After this financing, Lange Medtech® will focus on the existing spine minimally invasive field, and plan for future strategic M&A integration of new technologies, products and materials in the orthopedic field. We’re going to form a multi-brand and multi-product strategy on the sales side in the future, so as to provide a more comprehensive solution for customers, and help Lange Medtech® penetrate into the domestic market faster and more efficiently, and accelerate the process of domestication in the industry as a whole.

Mr. Zhou Xin, Founder and CEO of Lange Medtech® Group:

We are very grateful to Decheng Capital for recognizing our company and fueling the next step of our strategic development. After this financing, Lange Medtech® will not only deepen its commercialization strategy to rapidly expand the market, but also consider outbound M&A, to strengthen its layout in more innovative minimally invasive spine products, new orthopedic materials, etc., so as to form an effective synergy between different segments of orthopedic solutions. In the future, Lange Medtech® is about to embark on a new journey of internationalization strategy and achieve new development of continuous growth and breakthrough. We are grateful for the trust and support of our shareholders, and hope to receive stronger assistance from Decheng Capital in the international and domestic markets

Mr. Xu Wei, the partner of Decheng Capital:

Lange Medtech® is a young, energetic, and professional start-up medical device company. The company has gradually formed a more complete range of minimally invasive spine solution products and technologies through self-research and production, cooperation and agency in 10 years of entrepreneurial growth. The company is very bold to revolutionize the business model from traditional to innovative, facing the increasingly competitive orthopedic market. At present, the development momentum of domestic brands in the Chinese market is very strong. Compared with other segments of orthopedic field, there is still a large space for domestic substitution, and Lange Medtech® is expected to become a fast-growing leader of the young generation in the spine medical device industry, and set up a benchmark for the domestic orthopedic device brands. We hope that this investment from Decheng Capital will assist Lange Medtech® in its long-term sustainable development, and we are very grateful for its trust in our company.

Mr. Xie Yi Jing, Managing Director and Head of Healthcare and Life Science Group of China Renaissance:

"Thanks to the vigorous developing promotion of the domestic orthopedic devices, the localization of orthopedic devices has embraced with new market opportunities. Lange Medtech® has already established a good reputation in the market through its high-quality products. In the highly competitive Chinese orthopedic market, Lange Medtech® is supported by a well-known fund with international vision like Decheng Capital, and we believe that Lange Medtech® will be stronger and stronger in product extension, channel expansion, mergers and acquisitions. China Renaissance is honored to assist Lange Medtech® in completing this transaction, and we hope that the new one will create long-term value for doctors and patients."

Reprinted from WeChat Official Account of China Renaissance Capital