Update: BOQI International Medical Forms New Subsidiary, BOYI Technology, To Generate Revenue in Healthcare Technology Industry

Rhea-AI Summary

BOQI International Medical Inc. (NASDAQ: BIMI) announced an update on its subsidiary, Dalian BOYI Technology Co., Ltd., focusing on developing an eProcurement platform, supply-chain management software, and telemedicine solutions. The company plans to merge chronic care management into telemedicine software to enhance healthcare delivery. Additionally, BOYI Technology has launched a new website to improve its online presence. CEO Tiewei Song emphasized that these technologies aim to boost medical efficiency and meet rising demands for telehealth services amid the ongoing COVID-19 pandemic.

Positive

• Introduction of an integrated telemedicine solution with chronic care management.
• Development of a dedicated website for better user engagement and information dissemination.
• Focus on enhancing healthcare efficiency through advanced technologies like cloud computing and AI.

Negative

• Uncertain ability to achieve profitable operations.
• Risks related to operations in China and market demand fluctuations due to COVID-19.

NEW YORK, Nov. 06, 2020 (GLOBE NEWSWIRE) -- BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”) today provided an update on the development  of  an eProcurement platform,  supply-chain-management software and telemedicine software for the healthcare industry by its wholly-owned subsidiary, Dalian BOYI Technology Co., Ltd.

As initially disclosed on February 21, 2020, BOYI Technology was established to develop and market software for the healthcare industry including, an eProcurement platform, supply-chain-management software, telemedicine software and chronic care management systems. To align with BIMI’s plans for the future including its proposed online to offline business model, BOYI Technology has revised its strategy.  Going forward, BOYI Technology intends to merge a chronic care management module into telemedicine software.  In addition, BOYI Technology plans to develop solutions for hospitals and other healthcare institutions that will integrate and utilize both online and offline resources. 

In addition, to support BIMI’s operation, BOYI Technology has developed a new website for BIMI  at www.usbimi.com, displaying the Company’s profile, core business, investor relations, news center, corporate culture, contacts, and other general information.

“BOYI Technology’s information technologies rely on cloud computing clusters and big data intelligent analysis. These programs can facilitate the transition from traditional medical institutions to internet-based institutions as well as enable the switch from the traditional manual diagnosis to AI intelligent diagnosis. I believe that our healthcare technologies can improve the efficiency of medical institutions and meet the increasing market demand for telehealth and daily medical needs.” Said Mr. Tiewei Song, Chief Executive Officer and President of BOQI International Medical Inc.

  

About BOQI International Medical Inc.

BOQI International Medical Inc. (formerly known as NF Energy Saving Corporation) (NASDAQ: BIMI) was founded in 2006. In February 2019, the Board of Directors of the company was reorganized with a focus on the health industry. The Company is now exclusively a healthcare products provider, offering a broad range of healthcare products and related services. For more information about BOQI International Medical, please visit www.usbimi.com.

Safe Harbor Statement

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the Company’s ability to achieve profitable operations, its ability to continue to operate as a going concern, its ability to continue to meet NASDAQ continued listing requirements, the effects of the spread of the Coronavirus (COVID-19), the demand for the Company’s products and the Company’s customers’ economic condition,  risk of operations in the People’s Republic of China, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the United States Securities and Exchange Commission. Investors are urged to read the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2020 for further information about the Company’s financial results, liquidity and capital resources.

IR Contact:

Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: BIMI@dgipl.com

FAQ

What recent developments has BOQI International Medical (BIMI) announced?

BOQI International Medical has announced the development of an eProcurement platform and telemedicine software aimed at enhancing healthcare services.

How is BIMI integrating telemedicine with chronic care management?

BIMI plans to merge chronic care management into its telemedicine software to provide more comprehensive healthcare solutions.

What is the purpose of BOQI Technology's new website?

The new website serves to showcase BIMI's profile, core business, investor relations, and news, enhancing its online presence.

What risks does BOQI International Medical (BIMI) face?

Key risks include achieving profitable operations, maintaining NASDAQ listing requirements, and dealing with market demand fluctuations due to COVID-19.

What technologies is BOQI International Medical focusing on?

The company is focusing on cloud computing and big data analysis to improve healthcare service efficiency.