Zhejiang Mateside Medical Device Technology Co., Ltd. (“Mateside”) recently has announced the completion of the first round of nearly 100 million CNY financing.
Mateside is a household rehabilitation medical device brand that expands its business through a "1+4+N" model, covering four major fields: rehabilitation care, rehabilitation assistance, rehabilitation training, and rehabilitation therapy. It is committed to exploring technological innovation and application of digital smart health.
According to Mateside, it has nearly 300 SKUs, and its popular products, ergonomic wheelchairs, and electric nursing beds, have long been among the top three in the market in e-commerce sales. The company has established multiple product production lines, with nursing beds, wheelchairs, air mattresses, and atomizers all independently developed and produced, exported to more than 50 countries around the world.
According to Precedence Research, the global rehabilitation equipment market was worth USD 18.1 billion in 2022 and is expected to reach USD 18.1 billion by 2028, with a compound annual growth rate of 5.3%. This growth is driven by population aging, increasing in health awareness, technological innovation and digitization trends, and government initiatives.
In addition to Mateside, many companies are competing in the rehabilitation equipment market, such as Yuwell (鱼跃医疗), Shidao (世道), Hubang (互邦医疗), Cofoe (可孚医疗), Innuovo (英洛华) in China, Baxter, Invacare, Dynatronics Corp., Medline in the United States, Prism Medical and Winncare Group in the United Kingdom, Ossenberg and Drive DeVilbiss in Germany, and Handicare Group in Sweden.
Zhikuo Liu, CEO of Mateside, stated: “Mateside’s core competitiveness lies in being one of the few domestic rehabilitation medical device brands that can achieve closed-loop product positioning, research and development, production, sales, and brand management. The current elderly population in China is completely mismatched with the current rehabilitation medical volume, but with the improvement of elderly people's awareness of the use of rehabilitation aids, there is still great room for growth in household rehabilitation medical devices.”
This round of financing for Mateside was invested by Yuanning Investment (远宁投资), Hengxu Capital (恒旭资本) and Xiangyu Medical (翔宇医疗). This round of funds will mainly be used for market expansion, product research and development, supply chain construction, and channel networks expansion.