Beijing Yuan Xin Funding, Investors & Competitors

Iqvia is the result of the 2016 merger of Quintiles, a leading global contract research organization, and IMS Health, a leading healthcare data and analytics provider. The research and development segment focuses primarily on providing outsourced late-stage clinical trials for pharmaceutical, device, and diagnostic firms. The technology and analytics segment provides aggregated information and technology services to clients in the healthcare industry, including pharmaceutical companies, providers, payers, and policymakers, as well as data and analytics capabilities for clinical trials, including virtual trials. The company also has a small contract sales business.

Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx derives roughly 35% of its revenue from outside the United States.

GE HealthCare Technologies is a leading medical technology firm with leading market share in imaging and ultrasound equipment. The company reports four major segments: imaging (45% of revenue), advanced visualization solutions (26%), patient care solutions (15%), and pharmaceutical diagnostics (14%). The company’s sales are geographically diverse, with the United States, EMEA, China, and the rest of the world accounting for 46%, 26%, 11%, and 17% respectively. We estimate approximately half of its revenue is recurring, which consists of servicing (about one third of revenue), pharmaceutical diagnostics (about 10%-15%), and digital solutions (just over 5%).

Icon is a global late-stage contract research organization that provides drug development and clinical trial services to pharmaceutical, biotechnology, and medical-device firms. While the vast majority of its revenue comes from clinical research, Icon also offers ancillary services such as laboratory and imaging capabilities. The company is headquartered in Ireland.

Shanghai United Imaging Healthcare Co Ltd provides customers with high-performance medical imaging equipment, radiotherapy products, life science instruments, and medical digitalization and intelligent solutions. The company’s products include MRI systems, CT scanners, X-ray imaging equipment, molecular imaging systems, radiotherapy linear accelerators, and life science instruments.

Benchling is a San Francisco-headquartered cloud platform for biotech R&D launched in 2012 that supports molecular biology workflows including DNA design, CRISPR editing, and experiment tracking. Adopted by Pfizer, Regeneron, and Moderna for vaccine development, it serves over 200,000 scientists at more than 3,000 organizations worldwide.

Veeva is the global leading supplier of cloud-based software solutions for the life sciences industry. The company's best-of-breed offerings address operating and regulatory requirements for customers ranging from small, emerging biotechnology companies to departments of global pharmaceutical manufacturers. The company leverages its domain expertise to improve the efficiency and compliance of the underserved life sciences industry, displacing large, highly customized and dated enterprise resource planning systems that have limited flexibility. Its two main products are Veeva CRM, a customer relationship management platform for companies with a salesforce, and Veeva Vault, a content management platform that tackles various functions within any life sciences company.

Roper Technologies is a holding company focused on acquiring, managing, and developing niche market-leading technology businesses. The company operates a decentralized business model whereby each portfolio company operates independently from the others. Roper positions itself as a free cash flow compounder, whereby excess free cash flow generated by its portfolio businesses is repatriated to the parent company, which is then utilized to acquire additional businesses. Presently, the company operates 30 distinct businesses with over three-fourths of the revenue coming from software products and over two-thirds of the revenue coming from recurring and recurring sources.

Pro Medicus is a healthcare IT company specializing in radiology imaging software. Its main product, Visage 7, is a clinical desktop application that radiologists use to view, enhance, and manipulate images from any device and make a diagnosis. Its main customers are US private academic hospitals. In fiscal 2025, Pro Medicus earned 90% of revenue in North America, 8% from Australia, and the remaining 2% in Europe.

Commure is a San Francisco-headquartered healthcare technology company that delivers an interconnected platform for hospital and health system operations. Its suite of applications includes ambient AI-assisted clinical documentation, revenue cycle automation, staff safety monitoring, and care coordination tools. The platform integrates seamlessly with electronic health record systems through partnerships like the MEDITECH Alliance and enables enterprise-wide AI deployments such as ambient scribing and clinician workflow automation. Commure supports provider networks by offering licensing, implementation services, and content integration to streamline clinical and administrative workflows across large-scale organizations.

Doctolib is a Paris-headquartered online booking platform serving 80,000+ practitioners across France, Germany, Italy, and expanding regions. Patients book appointments 24/7 with GPs, dentists, and therapists via app or web. The software manages agendas, teleconsultations, and prescriptions, integrating with French and German health records. Founded in 2013, it handles 100 million annual appointments.

Cityblock Health is a Brooklyn-headquartered tech-enabled provider of integrated health and social care for underserved communities with complex needs. Founded in 2017, it partners with Medicaid managed care organizations like EmblemHealth to deliver personalized prevention services through mobile clinics and apps, including a COVID-19 risk assessment tool adopted by health systems nationwide.

Abridge is an AI-powered platform that converts patient-clinician conversations into structured clinical notes for electronic health records. Pittsburgh-based and founded in 2018, it serves over 100 health systems including UPMC and Mass General Brigham. The system uses generative AI to generate SOAP notes, discharge summaries, and billing codes, reducing documentation time by integrating with Epic and Cerner. Abridge processes millions of encounters annually, ensuring HIPAA compliance and supporting multilingual transcription across U.S. hospitals.

Reify Health is a Boston-headquartered provider of cloud-based software for clinical trial operations. Its StudyTeam platform streamlines patient recruitment, site activation, and enrollment tracking for sponsors, CROs, and research sites. The system integrates with electronic health records and delivers real-time dashboards, used in trials across oncology, rare diseases, and neurology.

Columbus, Ohio-headquartered Olive automates healthcare administrative workflows for hospitals using AI to process claims, prior authorizations, and eligibility checks. Founded in 2012, its platform shares intelligence across health systems to identify efficiencies and replicate solutions nationwide.

Medlinker is a Shenzhen-based digital health platform connecting over 1.5 million Chinese physicians through social networking, case discussions, and quizzes. The app serves 5,000 hospitals with knowledge sharing, anonymous forums, and industry news for specialties like internal medicine. Listed on Hong Kong Stock Exchange in 2022, Medlinker reaches 300 million patients via telemedicine. Founded in 2014, it employs 2,000 staff.

Bethesda-headquartered Aledade is a healthcare technology company that enables independent primary care practices to form and operate Accountable Care Organizations. The platform delivers practice transformation tools, revenue cycle management, and analytics to improve patient outcomes and reduce costs. Aledade supports over 1,300 physicians across 15 states, achieving Medicare savings exceeding $1 billion since 2014. The company offers upfront capital and ongoing coaching to physician partners in rural and urban areas.

Hippocratic AI is a San Francisco-headquartered developer of large language models optimized for non-diagnostic healthcare interactions. Its platform deploys AI agents for tasks like preoperative education, discharge instructions, and chronic disease follow-ups via phone or text. Built on a multi-agent architecture with clinician oversight, the system includes an agent marketplace for specialties such as cardiology and oncology. Health systems integrate agents into workflows for patient outreach and triage support.