IDS Medical Systems Group Limited and We Doctor Holdings Limited have signed an agreement to form idsMED WeDoctor China Ltd, creating China's first smart medical supply chain solutions and procurement company.

idsMED WeDoctor China Ltd and the government of Changting County in Fujian Province have also signed a strategic cooperation agreement to drive the establishment of an innovative medical devices platform in Ting Zhou, China. The platform is designed to create new channels for medical devices and consumables to conduct technology transfers, license applications, company establishment, as well as investment and capital market coordination. The platform aims to support and attract both domestic and international medical device providers into Changting.

The two parties, leveraging on their complementary strengths, innovative resources and networks, will seek to connect medical manufacturers and service providers with hospitals and care institutions in China to procure medical devices, consumables and services centrally. The joint venture aims to transform the currently fragmented, multi-layered and relationship-driven medical device and consumables distribution system in China, to significantly reduce costs and increase the efficiency and effectiveness of the medical supply chain.

The joint venture, owned 51% by WeDoctor and 49% by idsMED Group, will further enhance its value proposition by managing and optimizing the entire medical supply chain. Additionally, it will set up Medical Education and Training Academies across China to deliver and promote medical products and clinical education as well as accredited medical training courses and education seminars for doctors and nurses and the medical community.