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- Shulan Health
Shulan Health Valuation, Funding & Investors
Shulan Health is valued at $1.2B as of March 2021.
Last Shulan Health valuation
$1.2B
Series D · Mar 2021
Last Shulan Health funding round
$3M
Series D · Mar 2021
Cumulative funding Shulan Health raised
$43M
across 3 funding rounds
Key investors in Shulan Health
Qiming Venture Partners
Puhua Capital
Junci Investment
About Shulan Health
Shulan Health is a Ningbo-headquartered private hospital chain operating 15 facilities across Zhejiang, Shanghai, and Jiangsu provinces. Specializing in rehabilitation, oncology, nutrition therapy, executive health checks, and telemedicine, it runs Shulan International Hospital in Hangzhou and Shanghai Shulan Hospital. Founded in 2010, the group integrates TCM with Western medicine for chronic disease management.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
Valuation
$1.2B (Mar 2021)
Sectors
Shulan Health Valuation
Shulan Health is currently valued at $1.2B, based on its Series D in March 2021.
The $3M round included Puhua Capital.
Shulan Health's valuation has grown 1.2x from $966M at its Series C in April 2020 to $1.2B in March 2021, across 2 priced rounds.
Shulan Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series D | $1.2B |
| Apr 2020 | Series C | $966M |
Shulan Health Funding History
Shulan Health has raised a total of $43M across 3 funding rounds.
Shulan Health's first fundraising round was a $31M Series B in December 2016. The most recent completed round was a $3M Series D in March 2021.
Shulan Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series D | Puhua Capital | $3M | $1.2B | Shulan Health is a private healthcare group founded in 2013 in Hangzhou, Zhejiang Province, by academics Zheng Shusen and Li Lanjuan, integrating healthcare services, medical research, and education through self-operated hospitals like Shulan (Hangzhou) Hospital, Shulan (Anji) Hospital, and Shulan (Quzhou) Hospital, plus hospital management services. It completed five rounds of financing totaling nearly 900 million yuan, attracting investors including GIC Private Limited, Yida Capital, Qiming Venture Partners, Sequoia China, and Puhua Capital. The Series D round on March 1, 2021 raised $3.09 million, with post-Series D valuation reaching 8 billion yuan. Shulan Health operates in the healthcare sector, serving patients with serious conditions and partner hospitals seeking improved management, and achieved unicorn status with valuation over $1 billion by 2024 while preparing for a Hong Kong IPO. |
| Apr 2020 | Series C | Qiming Venture Partners (lead); Junci Investment | $9M | $966M | Shulan Health is a Chinese healthcare services company founded by Lanjuan Li, an academicianwho was appointed as an adviser to China's National Health Commission. The company provides healthcare services and was active in supporting coronavirus testing and diagnostic efforts during the pandemic. Shulan Health raised capital from top-tier investors including Qiming Venture Partners and Sequoia China across multiple funding rounds. By August 2020, the company had reached a post-money valuation of $966 million, reflecting strong investor confidence in the healthcare services sector in China. After five rounds of financing, the company's valuation reached approximately 8 billion yuan (roughly $1.1 billion USD), demonstrating significant value creation and market traction. |
| Dec 2016 | Series B | Qiming Venture Partners (lead) | $31M | - | Shulan Health is a Chinese healthcare services company that has received multiple rounds of funding from prominent venture capital investors. The first investment from Qiming occurred on December 1, 2016, marking Shulan Health's early-stage engagement with the firm. The company's later Series C and Series C-II rounds closed in 2020. By August 2020, Shulan Health had achieved a post-money valuation of $966 million, demonstrating significant value appreciation over its funding journey. The most recent disclosed valuation occurred in March 2021. In 2023, Shulan Health was recognized for its social responsibility efforts, having organized nearly 400 free clinic events and approximately 1,000 educational live streamings from 2022 to mid-2023, while implementing green energy-saving technologies across its hospital network. |
Who has invested in Shulan Health?
3 investors have backed Shulan Health across its funding rounds, including Qiming Venture Partners, Puhua Capital and Junci Investment.
Lead investors include Qiming Venture Partners.
Shulan Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Dec 2016 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Shulan Health
Shulan Health has invested in 8 companies to date.
Latest investment by Shulan Health was on March 11th 2022. Shulan Health invested in Nanjing Tengchen Biotechnology in their $2M Series A round.
Latest Investments by Shulan Health
| Description | Nanjing Tengchen Biotechnology is a developer of in vitro diagnostic tools and tumor treatment products. Backed by top-tier Chinese venture capital, the Nanjing firm advances technologies for tumor diagnostics, prognosis, efficacy evaluation, and recurrence monitoring. Its pipeline targets early screening for lung, breast, prostate, thyroid, esophageal, and pancreatic cancers via tengchenbio.com. | TClab is a China-based medical laboratory services provider offering clinical testing and diagnostics. The company conducts pathology, biochemistry, immunology, and molecular diagnostics from facilities in major cities like Beijing and Shanghai. TClab processes samples for hospitals and clinics, specializing in cancer screening, infectious disease panels, and genetic testing with automated analyzers. It maintains CAP-accredited labs and delivers results via secure online portals. | Saint Bella Group Ltd, formerly known as Saint Bella Inc, is a postpartum care and recovery group in China, and it also offer home care services and food products covering women's needs. The company aims to become a comprehensive family care group in Asia with an evolving brand portfolio, through enhancing its presence in the existing business segments and operating markets, launching new offerings to tap into new segments such as elderly care services, as well as expanding its service network to markets in addition to its established presence in mainland China, Hong Kong, Singapore, and the United States. | NeighBor Doc is a Beijing-headquartered online healthcare platform that integrates general practice with specialist consultations through digital and in-person channels. Launched in China, the service connects patients in communities to licensed physicians for remote diagnostics, prescriptions, and wellness plans via its linjiahaoyi.com portal. It emphasizes community medical enhancement by combining telemedicine apps with local clinics, serving urban and rural areas with features like appointment booking and health record management. | |
| HQ Country | |||||
| HQ City | Nanjing | Hangzhou | - | Hangzhou | |
| Deal Date | 11 Mar 2022 | 5 Dec 2019 | 2 Jan 2019 | 20 Jul 2018 | |
| Round | Series A | Series A | Series A | Series A | |
| Raised | $2M | $1M | $7M | $3M | |
| Investors | - | - | Gaorong Capital; Tangzhu Capital | Dalton Venture; BioVenture; Cowin Venture | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Shulan Health investments and their VC round multiples. Start Free Trial | |||||
Shulan Health Competitors
Shulan Health competitors include listed companies like Med Life, Terveystalo, Rhoen Klinikum and Thomson Medical, and private ones like Kerala Institute of Medical Sciences and Fosun Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $594M | $84M | $1.2B | 2.1x | ||
| Publicly listed | $1.5B | $266M | $1.1B | 1.2x | ||
| Publicly listed | $2B | $122M | $1.1B | 0.3x | ||
| Publicly listed | $330M | $53M | $1.1B | 5.8x | ||
| Private | $118M | - | $1.3B | 10.6x | ||
| Private | $913M | - | $1.5B | 1.6x |
Shulan Health Public Comps
Shulan Health is still privately-owned, but its public comps include Med Life, Terveystalo, Rhoen Klinikum, Thomson Medical, U.S. Physical Therapy, Dr. Sulaiman Al Habib Medical Services, HealthCare Global Enterprises, Park Medi World, Clinica Baviera and Netcare.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $594M | $84M | 2.7x | 2.1x | 19.1x | 15.1x | |||
| $1.5B | $266M | 1.2x | 1.2x | 6.7x | 6.8x | |||
| $2B | $122M | 0.3x | 0.3x | 5.4x | 5.4x | |||
| $330M | $53M | 6.0x | 5.8x | 37.2x | 28.9x | |||
| $781M | $110M | 2.5x | 2.3x | 17.5x | 18.9x | |||
| $410M | $110M | 3.1x | - | 11.7x | - | |||
| $263M | $44M | 4.6x | 4.3x | 27.2x | 22.6x | |||
| $172M | $46M | 7.3x | 6.3x | 27.2x | 24.1x | |||
This data is available for Pro users. Sign up to see all Shulan Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Shulan Health
| When was Shulan Health founded? | Shulan Health was founded in 2015. |
| Where is Shulan Health headquartered? | Shulan Health is headquartered in Hangzhou, China. |
| Is Shulan Health publicly listed? | No, Shulan Health is a private, VC-backed company. |
| What is Shulan Health's valuation? | Shulan Health was last valued at $1.2B in its Series D in March 2021. |
| How much funding has Shulan Health raised? | Shulan Health has raised $43M across 3 funding rounds. |
| What was Shulan Health's last funding round? | Shulan Health's last funding round was a $3M Series D in March 2021. |
| Who are Shulan Health's investors? | Shulan Health's investors include Qiming Venture Partners, Puhua Capital and Junci Investment. |
| Which companies are comparable to Shulan Health? | Companies comparable to Shulan Health include Med Life, Terveystalo, Rhoen Klinikum, Thomson Medical, Kerala Institute of Medical Sciences and Fosun Health. |
| How many companies has Shulan Health invested in? | Shulan Health has invested in 8 companies, including Nanjing Tengchen Biotechnology, TClab, Saint Bella, NeighBor Doc, WOWJOY TECHNOLOGY, MyGene, Hsmap and Synyi. |
| What was Shulan Health's last investment? | In March 2022, Shulan Health invested in Nanjing Tengchen Biotechnology's $2M Series A. |
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