Jiangsu Medpark is a national medical industry facility jointly established by Suzhou New District and the Suzhou Institute of Biomedical Engineering and Technology in 2009. [Photo/WeChat account: snd-szgxqfb]
To date, more than 80 medical equipment companies in Suzhou New District have received various rounds of venture capital financing, with the financing amount exceeding 10 billion yuan ($1.54 billion).
A group of companies, such as Microread Genetics, MagAssist, Singular Medical, Depin Medical Technology, and EDDA Technology, have received financing from top venture capital firms like Sequoia, Shenzhen Capital Group Co, CDH Investments, and Fortune Capital.
As the only national-level high-tech district in Jiangsu province that supports the medical equipment industry, SND has formed a complete industry ecosystem with innovation platforms, incubation platforms, service platforms, carrier platforms, and capital platforms.
"The industry ecosystem and supportive policies helped us make achievements in only three years, which took our foreign counterparts seven or eight years to achieve," said Xu Boling, founder of MagAssist, a SND-based medical technology company.
The district is home to renowned domestic and overseas companies in the industry, such as Fujifilm, Thermo Fisher Scientific, bioMérieux, and Yuwell, with an average annual growth rate of output value exceeding 30 percent.
Statistics showed that from January to June this year, SND's high-end medical equipment and biomedicine industry generated revenue of 17.09 billion yuan.
Based on Jiangsu Medpark, a leading medical device industrial park, SND's high-end medical equipment and biomedicine industry strives to generate 80 billion yuan in revenue by 2023, said Li Wei, director of the district's bureau of science and technology.
