The cardiac echocardiography company in China is supposed to compete with global leaders
TingSN (Chinese: 霆升科技) recently announced that it had completed a CNY 100 million Series B funding round in September, 2022, which was led by Qiming Venture Partners (Chinese: 启明创投) and followed by HuaTai Zijin (Chinese: 华泰紫金), Tasly Capital (Chinese: 天士力资本), Ascendum Capital (Chinese: 济时资本), and Nanwan Baiao Fund (Chinese: 南湾百澳).
Proceeds will be mainly used for the mass production of intracardiac echocardiography (ICE) products, R&D team expansion, and the development of new products.
Founded in 2017, TingSN is a medical equipment company focusing on the technology innovation of ultrasonic sound in cardiac echocardiography. Its product portfolio covers 3D ultrasonic mapping, ICE, and ultrasound ablation system. The core product, ICE, place the ultrasonic probe in the heart to make ultrasound imaging, which can treat cardiac arrhythmia. Now the registration application of TingSN's single-use ICE ultrasonic probe for innovative medical device has been accepted by NMPA.
To compete with global leaders such as J&J Medical Devices or Abbott in ICE, TingSN has established research and manufacturing centers measuring nearly 4,800 square meters, with the most high-end sophisticated testing instruments and semi-automatic production line. The R&D investment of two-dimension ICE product has reached nearly CNY 200 million. The product will enter into registered clinical stage in the coming six months and achieve global sales in 2024. At the same time, TingSN is accelerating the research of 4D ICE product by improving some technical details of foreign clinical products.
TingSN's competitors include Cardioacc (Chinese: 心寰科技) SonoSemi (Chinese: 赛禾医疗), and Intelligent Healthcare (Chinese: 冰晶智能).