Wednesday, 21 August 2019

111 Wins 2019 China Healthcare Industry Best Corporate Award

08 August 2019 | News

Unique T2B2C model leverages smart supply chain, cloud-based solutions, data analytics and professional healthcare knowledge to generate positive and sustainable core operating, business, and financial results while building its competitive competencies

Photo credit: McKinsey

Photo credit: McKinsey

111, Inc., a leading integrated online and offline healthcare platform, on 7 August 2019, announced its winning of the 2019 China Healthcare Industry Best Company Award at the 4th China Healthcare Industry Summit held in Beijing. The Award selection was made by Yi'ou.com, a well-known technology and industry innovation service media platform in China. The China Health Information and Big Data Association served as an advisor to the Summit, which was entitled Healthcare Reforms from Scale to Value. Of the several thousand audience members, there were over 50 high-level guests. The panellists discussed reforms and opportunities in the healthcare industry and Dr Gang Yu, Co-Founder and Executive Chairman of 111, presented a keynote speech.

The public listing of 111 on Nasdaq was a milestone in the Internet and healthcare industry, indicating the Internet-based pharmaceutical and healthcare model having been accepted by capital markets and it's entering an expansion stage. 

Since April 2018, when China's State Council General Office issued guidelines on the promotion of the Internet plus healthcare, China's healthcare industry entered a period of rapid growth. With such a regulatory environment as a tailwind, Internet pharmaceutical companies are moving from an exploratory to a developmental stage and beginning to scale up. Regulators have added "fuel" to develop the industry while the Internet and AI are fast becoming the new growth drivers. 

111 has entered a period of rapid growth based on its unique T2B2C model. It is able to leverage its smart supply chain, cloud-based solutions, data analytics and professional healthcare knowledge to generate positive and sustainable core operating, business, and financial results while building its competitive competencies. 

With the increasing volume of prescriptions and the "4+7 Centralized Urban Pharmaceutical Procurement Policy", distribution channels outside of public hospitals are gaining new visibility. 111's integrated online and offline healthcare and the pharmaceutical solution is attracting attention from pharmaceutical companies, and by helping its pharmaceutical industry clients identify distribution channels outside public hospitals, 111 is achieving new levels of growth. As of 31 March 2019, 111 has established strategic direct sourcing cooperation with 98 leading pharmaceutical companies domestically and globally and is using the Internet as a new channel for sales in an evolving pharmaceutical retail sector.

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