Jointly Builds All-round Chronic Disease Management System
SHANGHAI, Oct. 11, 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 Tianjin Zhongxin Pharmaceutical Group Corp. Ltd. ("Zhongxin Pharmaceuticals"). The two parties will integrate their respective superior resources to jointly build an online cardiovascular disease management center in China. They also agreed to collaborate in areas such as chronic disease management, AI+ family doctor, pharmaceutical new retail, product marketing and insurance, etc., to improve the medical services for both parties, and to build the emerging business model of "Internet + Medical" together.
Zhongxin Pharmaceuticals is a core enterprise of Tianjin Pharmaceutical Group. It is characterized by innovation in traditional Chinese medicine and has a complete industrial chain, product mix and talent base. It is also a recognized national, high-tech enterprise. Zhongxin Pharmaceuticals was listed in Singapore in 1997 and listed on the Shanghai Stock Exchange in 2001 (stock code: 600329). After years of development, Zhongxin Pharmaceuticals has accumulated unique advantages far ahead of its peers. Zhongxin Pharmaceuticals owns a well-known brand portfolio, has a good reputation in the pharmaceutical industry, deep industrial and commercial integration and a strong innovation capability.
Ping An Good Doctor is the leading one-stop healthcare ecosystem platform in China. The Company employs more than a thousand medical personnel in its in-house medical team and has contracts with 4,650 renowned external doctors. This in-house medical team, empowered by its proprietary AI technology, provides users with 24 x 7 online consultation services. In its 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 12,000 pharmacy outlets, to provide relevant health and wellness services to its users. By integrating its AI-empowered medical team, external doctors and offline network, the Company has established a closed-loop healthcare ecosystem which enables the 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.
Developing an all-round healthcare management ecosystem for chronic disease
According to the agreement, Ping An Good Doctor and Zhongxin Pharmaceuticals will collaborate to develop an all-round healthcare management ecosystem for chronic disease patients. The ecosystem will be based on Ping An Good Doctor's data of over 300 million online consultations and AI medical technology, and integrate with Zhongxin Pharmaceuticals's competitive edges in product R&D. In the future, it will establish a closed-loop chronic illness healthcare management system which enables services, including daily heath measurement, healthcare management planning, online consultation, online drug purchasing and 24-hour tracking, to effectively improve the service experience and quality of life of patients with chronic illnesses.
Relevant data shows that chronic diseases seriously threaten the health of Chinese residents. According to "China's chronic disease management market and the development trend in 2018" by Qianzhan Industry Research Institute, China now has more than 300 million chronic disease patients and deaths related to chronic diseases have accounted for 80% of the illness-related deaths in China. The cost of chronic diseases management has accounted for 70% of the total cost of disease in China.
Cardiovascular disease, one of the chronic diseases that is a serious threat to health, will be the key service area in the chronic disease management system built by Ping An Good Doctor and Zhongxin Pharmaceuticals. Taking advantage of Zhongxin Pharmaceuticals' cardiovascular disease product R&D, Ping An Good Doctor's leading AI medical technology and its large user base, the two parties will start by establishing China's online cardiovascular disease management center. By linking the offline hospital network and academic resources, the center will provide users with scientific knowledge of cardiovascular disease, instruction in drug use, online and offline referral, post-operative rehabilitation, psychological intervention and other services.
Establishing an in-depth cooperation in various fields surrounding "Internet + Medical"
In addition to jointly building the all-round chronic disease management system, the two parties will also carry out in-depth cooperation in various fields such as AI+ family doctors, pharmaceutical new retail, product marketing and insurance, etc.
In the service cooperation of "AI+ family doctor", the Company will leverage the powerful offline network of Zhongxin Pharmaceuticals and transfer its mobile medical service capabilities to the network. By integrating the Company's AI-assisted in-house medical team, external doctor resources and medical network resources, family doctors are expected to provide services to more offline users. The service not only provides users with advice on taking medicine, but also provides 24 x 7 online consultations, referrals and registrations, inpatient arrangements, second treatment advice and health management, providing a more comprehensive medical and healthcare solution.
In the area of pharmaceutical new retail, the two companies will jointly promote Ping An Good Doctor's "One-minute Clinics" in pharmacies, clinics inside enterprises, communities, insurance policies, etc., and establish a closed-loop from doctor consultation, prescription, product to delivery, providing a comprehensive online and offline medical service experience for users of both companies.
In addition, the two sides will also cooperate on the online and offline marketing, facilitating the cooperation between Ping An Group's insurance business with Zhongxin Pharmaceuticals, poverty alleviation programs and pharmaceutical charitable activities.
About Ping An Good Doctor (1833.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.
