SHANGHAI, Nov. 15, 2018 /PRNewswire/ -- China's leading one-stop healthcare ecosystem platform, Ping An Good Doctor (the "Company", stock code: 1833.HK), announced the Memorandum of Understanding ("MoU") with Bangkok Dusit Medical Service (BDMS), the largest healthcare network in Thailand on 15 November 2018. The two medical service giants will integrate and exchange their experienced medical resources online and offline, and provide one-stop healthcare services for millions of Chinese patients.
Established in 1969, BDMS is the largest medical group in Thailand and is also one of the most prestigious hospital networks in the Asia-Pacific region. At the global level, BDMS ranks second among private hospital groups in terms of market capitalization. BDMS owns 46 hospitals located in major cities and locations in Thailand and Cambodia, serving Thai patients and foreign patients from the US, Europe, China, Japan, Korea, the UAE, etc. A total of 17 hospitals in the BDMS network have JCI (Joint Commission International) certificates. Over 10,000 qualified doctors and 8,000 nurses work for BDMS, and many of them are experts in Centers of Excellence which specialize in cancer, heart and brain diseases, trauma and orthopedics.
As the leading one-stop healthcare ecosystem platform in China, Ping An Good Doctor builds a service cycle covering online consultation and medicine to offline visits, utilizing the integration of its 1,000 medical professionals, outside doctors and medical network along with world-class advanced artificial intelligence (AI) technology. As of the end of June, 2018, there were 228 million registered users and the Company's monthly active users (MAU) reached 48.6 million. Ping An Good Doctor is today the largest mobile medical application in China in terms of user scale.
Medical service standards in Thailand are now on par with the standards in some OECD countries. For some specialized areas, such as IVF, cancer and heart, Thai hospital groups like BDMS provide an outstanding medical service. According to World Daily in Thailand, nearly 10 million Chinese visitors traveled to Thailand in 2017, which was a more than 10% year-on-year growth. One of the main factors for the growth is the high-quality medical services which have helped boost medical tourism in Thailand from the China market.
The Chinese demand for overseas medical services has started to grow in recent years, but there is a lack of organizations that can link patients to overseas medical institutions, which leads to unsatisfactory outcomes.
Through the combination of hundreds of millions of online users' data from Ping An Good Doctor and advanced offline medical services from BDMS, the collaboration between the two parties will provide a set of integrated solutions. The alliance will provide a reliable and comprehensive overseas consultation process which will improve the standards of medical tourism and set an international medical collaboration model. As a result, Chinese users can benefit from accurate information to choose the best medical plan by using Ping An Good Doctor. The cooperation offers more opportunities to Chinese patients and introduces the option of premium medical tourism to middle-income people. It will also help improve how Chinese patients access advanced medical technology overseas, turning medical care into a "no border" resource.
The strategic cooperation with BDMS is an important step for Ping An Good Doctor in its internationalization strategy. The Company will accelerate its moves into the overseas healthcare market, integrate the international service network, and establish the global healthcare ecosystem together with its partners. At present, the healthcare service network of Ping An Good Doctor covers around 10 countries and regions, including the United States, South Korea, Switzerland and Singapore, and the Company has cooperated with hundreds of hospitals overseas. At the same time, Ping An Good Doctor will assist BDMS to engage deeply into the China market by using its huge user base and rich resources. As a result, the brand influence of both parties will be enhanced by this cooperation.
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.
