Xu Hang founded Myriad Healthcare with Li Xiting.
Born in 1951 to an ordinary family in the village of Litun in Dangshan County, Anhui Province, Li Xiting graduated from the Physics Department of the University of Science and Technology of China (USTC) in 1976 at the age of 25, and at the age of 31, he was sent to the University of France (UF) 11 as a visiting scholar for three years.
After starting his own business, he pursued a low-priced strategy of "surrounded by cities in the countryside": starting with townships and rural hospitals, he attracted customers by offering a high price/performance ratio, avoiding head-on battles with international brands in the high-class hospitals in big cities. Li Xiting and his team were once labeled as "low price killers".
Li Xiting
Li Xiting, a native of Dangshan, Anhui province, graduated from the University of Science and Technology of China and is now chairman of the board of directors of Meizu Medical.
In 1991, he co-founded Myriad Medical with Cheng Minghe and Xu Hang, and led it to become China's first medical device company listed on the New York Stock Exchange in the U.S. In 2019, with a wealth of $5.5 billion, he was ranked 317th on Forbes' list of the world's billionaires.
Since its inception, Myriad has always taken "meeting customer needs" as the driving force for growth, and has gradually established an R&D management platform that is oriented to customer needs, centered on project management, close to the market, with a full understanding of users' needs, and with a rapid response. By integrating innovative technologies and R&D cost advantages, we provide high-performance and cost-effective products and services for global medical institutions and create greater value for our customers.