Shanghai Diluo Medical Devices

About Shanghai Diluo Medical Devices

Shanghai Diluo Medical Devices Co., Ltd., operating as Dearer Medical, was established on July 3, 2017, and has positioned itself as a key player in the contact lens market. The company's core business revolves around the research, development, production, and sale of Class III medical device products, with a specialized focus on colored contact lenses. Dearer Medical operates primarily as an Original Design Manufacturer (ODM), serving prominent colored contact lens brands such as KILALA, 4inLook, and Sweet Color.

The company's business model leverages a dual-market appeal, tapping into both the medical device sector and the beauty consumer goods industry. Its product portfolio is extensive, covering daily, monthly, semi-annual, and annual disposable contact lenses, supported by nine Class III medical device registration certificates. Eight of these certificates are specifically for colored contact lenses, and one is for standard transparent lenses. A significant technical capability is its patented internal coating technology and an exclusive registration for 7-color and pearl color films, which allows for a high degree of design flexibility and enables the launch of over 1,000 new designs monthly.

Financially, Dearer Medical is venture capital-backed, having successfully raised $106 million. A Series C funding round was completed in January 2024, led by Haida Investment with continued participation from existing investor Legend Capital. The stated purpose of these funds is to advance research and development and to significantly expand production capacity for its colored contact lens categories. The company has set an ambitious goal to reach an annual production capacity of over 1.5 billion units by 2028. In June 2023, Dearer Medical initiated the A-share IPO process by signing a listing counseling agreement, signaling its intent to become a publicly traded company.

Strategically, the company has expanded its manufacturing footprint with production bases in Jilin, Xi'an, Shanghai, and South Korea. Its subsidiary, Jilin Realcon, is noted as one of the pioneering contract manufacturing factories for colored contact lenses in China. Further expansion includes plans for two additional production plants in Shanghai. In August 2022, the company also acquired Ez Sight Contact Lens, a therapeutic devices company founded in 2001.