Whale Imaging Attracts $8 million from OrbiMed, the Largest Healthcare-Dedicated Global Investment Firm
Boston, MA (August 15, 2012) – Whale Imaging, a medical imaging research, development and manufacturing company led by a group of experienced scientists and managers, announced today the successful completion of a $8 million equity financing round. The international syndicate was led by OrbiMed’s Asia Partners fund. Chang’an Capital also participated in the round.
The funding will be used to grow the company’s R&D programs, business development efforts and sales force expansion. Whale Imaging is building a world-class organization of global experts to focus on breakthrough technologies for medical imaging systems. It has research facilities in Boston, Massachusetts and a research and manufacturing facility in Beijing, China.
Commenting on the financing, Mr Sean Zhu, CEO said: “We are gratified to have received such strong global financial support from OrbiMed and Chang’an Capital to take Whale Imaging into this exciting growth phase. We believe that Whale’s innovative product offerings will significantly improve the diagnosis and treatment outcomes for millions of patients worldwide.”
David Wang, Senior Managing Director, OrbiMed Asia, commented: “Whale Imaging is the prototype for companies we seek to support: it has a strong and experienced international management team addressing significant unmet medical needs with innovative, cost-efficient products. With this financing round, Whale Imaging has built a strong financial foundation to support its future growth within both the rapidly expanding Chinese domestic market and export markets.”
OrbiMed is the largest healthcare-dedicated investment firm globally, with approximately $6 billion in assets under management. OrbiMed’s investment business was founded in 1989 with a vision to invest across the spectrum of healthcare companies worldwide, from venture capital start-ups to large multinational companies. OrbiMed manages a series of private equity funds, public equity funds, royalty funds and other investment vehicles.
Chang’an Capital is a leading Chinese private equity investment company established over 10 years ago which focuses on dynamic, market-oriented, high-growth Chinese small and mid-sized enterprises. In addition to investing, it provides experience and operational support to help companies achieve fast, sustainable development.