HONG KONG and SHANGHAI, Oct. 3, 2018 /PRNewswire/ — China’s leading one-stop healthcare ecosystem platform, Ping An Good Doctor (the “Company”, stock code: 1833.HK), today announced the strategic partnership with China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (“CR Sanjiu”). The two parties will integrate their respective superior resources, such as Ping An Good Doctor’s leading AI healthcare technologies and massive user scale, and CR Sanjiu’s product advantages in over-the-counter (OTC) and prescription drugs, to build the emerging business model of “Internet + Medical” together. The collaboration will not only enhance the medical services of both companies, but also bring a deep integration of the mobile internet and medical services to the industry.
The signing ceremony of the strategic partnership agreement
CR Sanjiu is a large state-owned pharmaceutical listed company that mainly engages in the research and development, production, sales of pharmaceutical products and related healthcare services. Its main businesses are OTC and Chinese medicine prescription drugs. In terms of OTC core products, CR Sanjiu maintains leading market shares in the products of cold medicine, gastroenterology, dermatology, pediatrics, cough medicine and orthopedic medicine. Its Chinese medicine prescription drugs also have a strong presence in the Chinese market, including Chinese medicine formula granules, cardiovascular and cerebrovascular medicine, anti-tumor medicine, anti-infective medicine, etc. CR Sanjiu’s flagship brands include “999”, Xue Sai Tong Soft Capsules, Shunfeng and Tianhe, which are highly reputable and influential in the Chinese pharmaceutical industry.
Ping An Good Doctor is a leading one-stop healthcare ecosystem platform in China. Leveraging the world’s leading AI healthcare technologies, the Company consolidates its in-house medical team of more than a thousand medical professionals, external contracted doctors and offline healthcare network, to establish a self-contained servicing system that allows its users to consult doctors and purchase medicine online, or consult doctors online and receive medical treatment offline. Ping An Good Doctor now works with approximately 3,100 hospitals (including more than 1,200 Class III Grade A hospitals), and more than 2,000 healthcare institutions such as physical examination centers, dental clinics, cosmetic surgery institutions and more than 10,000 pharmacy outlets.
In China, the “Healthy China” plan has become the national strategy, and “Internet + Medical” is emerging as an important part of China’s Healthcare Reform. The integration of internet medical and traditional medical entities has become one of the development trends of the medical industry. The strategic cooperation between Ping An Good Doctor and CR Sanjiu reflects this trend. They will consolidate their respective resources on pharmaceutical new retail, Chinese medicine revitalization, medical AI, family doctor services, marketing and poverty alleviation programs.
In terms of pharmaceutical new retail, the two companies will leverage on Ping An Good Doctor’s internet hospital, in-house medical team and substantial user traffic, as well as CR Sanjiu’s advantages in product and brand, to strengthen the self-contained servicing chain. From doctor consultations, prescriptions, product purchases to drug delivery, the comprehensive healthcare service will provide a better experience for its users. For the revitalization of Chinese medicine, the two parties will focus on online Chinese medicine healthcare. They will also use Ping An Good Doctor’s big data and user’s profiling to explore new models of “internet + Chinese medicine healthcare” and “internet + chronic illness management”, striving to promote the standardization of Chinese medicine and expand the client base of the Chinese medicine market. In addition, the two parties will collaborate to strengthen marketing programs, promoting each other’s brand online and offline, and to expand the client base and enhance user loyalty.
About Ping An Good Doctor (01833.HK)
Ping An Good Doctor is the leading one-stop healthcare ecosystem platform in China. By combining “mobile health + AI technology”, the Company strives to provide every family with a family doctor, every person with an e-health profile and everyone with a healthcare management plan. Ping An Good Doctor has established a comprehensive, one-stop healthcare ecosystem covering family doctor services, consumer healthcare services, a health mall as well as health management and wellness interaction.
As of the end of June 2018, there were 228 million registered users and the Company’s MAU reached 48.6 million. Ping An Good Doctor is today the largest mobile medical application in China in terms of user scale. Ping An Good Doctor employs more than a thousand medical personnel (Assistant Supervisor Level or above from Class III Grade A Hospitals) in its in-house medical team and contracts with 4,650 renowned external doctors. This in-house medical team, empowered by our proprietary AI technology, provides users with 24 x 7 online consultation services. In our offline partnership network, Ping An Good Doctor collaborates with approximately 3,100 hospitals (including more than 1,200 Class III Grade A hospitals) to provide services such as hospital referral, appointment and inpatient arrangements. Ping An Good Doctor also partners with more than 2,000 healthcare institutions, including physical examination centers, dental clinics, cosmetic surgery institutions and more than 10,000 pharmacy outlets, to provide relevant health and wellness services to our users. By integrating our AI-empowered medical team, external doctors and offline network, Ping An Good Doctor has established a closed-loop healthcare ecosystem which enables our users to enjoy online consultations and online drug purchases, as well as online consultations and offline follow-up treatment, thereby providing convenient, high-quality and efficient family doctor services.
In April 2015, the App “Ping An Good Doctor” was officially launched. In May 2016, the Company completed an A round financing and raised US$500 million. In December 2017, the Company completed the pre-IPO financing from Softbank Vision Fund, during which it raised US$400 million. On 4 May 2018, Ping An Good Doctor became the No.1 listed internet health-tech company in the world when it joined the Hong Kong Stock Exchange, stock code 01833.HK. Our IPO cornerstone investors include Blackrock, Capital Group, GIC, Canada Pension Plan Investment Board, Khazanah Nasional Berhad, Swiss Re and CP Group.
