As China's aging population grows, elderly care service providers like Kanghu Yanglao are capturing the attention of the capital market.
Kanghu Yanglao(Chinese: 康护养老) recently harvested tens of millions of CNY in Pre-Series A financing round with Citron Research, Binhai Wealth(Chinese: 滨海财富) among its investors. The proceeds will be used to build its digital home care units and expand the market in Beijing, Tianjin and Hebei Province.
As China's seventh census shows, the number of people aged 60 and above in the country has reached 260 million, accounting for 18.7% of its total population. The market size of China's elderly care industry reached CNY 7.2 trillion in 2020 and is expected to rise to CNY 10.3 trillion in 2022, according to iiMedia Data, a Chinese data analysis organization. With China's increasingly aging population, the industry of elderly care has a positive outlook.
Kanghu Yanglao is a Tianjin-based 'digital home care unit provider' that integrates smart elderly care products, elderly care services and a digital medical platform. The company has formed an operation loop composed of community sites, information management, smart products and professional service, satisfying different elderly care needs.
Xiaocheng Changhu(Chinese:小橙长护), a brand of Kanghu Yanglao, adopts the model of chain stores. It has 21 nursing homes under construction and four elderly daycare centers in Beijing and Tianjin. Xiaocheng has provided more than 500,000 services, including adult day care, medical care, geriatric rehabilitation and patient management.
Kang Li Yuan(Chinese:康力元), another brand of the company, provides medical equipment and daily living aids for the elderly, focusing on the scenario of family care. Its service network has covered more than 100,000 families.
The competitors of Kanghu Yanglao include LimeFamily(Chinese:清檬养老), Xbcare(Chinese:小柏家护) and 2mao(Chinese:二毛照护).