He Health Obtains Internet Hospital License, Presenting Big Prospects for BlueCity's Fast-growing Health Business
BlueCity (Nasdaq: BLCT) announced that its health service platform, He Health, has received an Internet hospital license in Mainland China. This allows BlueCity to provide comprehensive men's health services, including consultations for erectile dysfunction, HIV prevention, and more. He Health has seen impressive growth, with a revenue increase of 800% year-on-year in Q4 2020. The online health consultation market in China is projected to reach RMB 523 billion by 2025, indicating significant potential for growth in men's health services.
- He Health obtained an Internet hospital license, enhancing service offerings.
- Revenue for He Health increased by over 800% year-on-year in Q4 2020.
- The men's health market in China is projected to reach RMB 99.6 billion by 2025.
- None.
BEIJING, April 20, 2021 /PRNewswire/ -- BlueCity (Nasdaq: BLCT) today proudly announced that He Health, the brand's health service platform for men, has officially obtained an Internet hospital license in Mainland China, presenting great prospects for the brand's nascent, yet fast-growing health business.
The establishment of the He Health Internet Hospital means that BlueCity can now offer a more complete set of health services from men's health consultations to advice on issues like Erectile Dysfunction, Premature Ejaculation, HIV testing and prevention, and more, as well as drug accessibility services. This essentially closes a glaring gap in the field of men's health in China, itself a sector that is expected grow significantly over the next few years.
This move also brings BlueCity greater agency, by allowing it to invite renowned doctors from relevant fields on to the platform to interact with clients rather than relying on a whole host of third parties.
Baoli Ma, founder, chairman and chief executive officer of BlueCity, said, "We're delighted to open up what will be China's first Internet hospital focused on men's health, tapping into a budding sector that we view as a key driver in the brand's next phase of growth, which is backed up by the eightfold increase in profits BlueCity saw for He Health year-on-year during the fourth quarter of 2020."
Since its launch in March 2019, He Health has promoted awareness of men's health and HIV prevention to tens of millions of users in China, and its services have gradually expanded from sexually transmitted diseases (including HIV) to the field of men's everyday wellbeing.
In the fourth quarter of 2020, BlueCity's other income - including He Health - increased by
According to a Frost and Sullivan report, the scale of China's online health consultation as well as online prescription and pharmacy market is expected to reach RMB 523 billion (USD 80.3 billion) by 2025, and the digital medical market has a broad space for penetration into the healthcare field. Notably, the report claims the size of men's health and healthcare market in China is expected to reach RMB 99.6 billion (USD 15.2 billion) by 2025.
New license allows BlueCity to better meet men's health needs and tap into this fast-growing sector
For a long time, the health needs of men haven't been effectively met, encountering problems like insufficient privacy protection, limited drug purchasing channels, and limited awareness about sexual health.
As an Internet medical and health service platform focusing on the private health of men, He Health will integrate Internet hospitals, offline chain pharmacies and drug batches, as well as health management platforms, focusing on HIV testing and prevention, sexual health, chronic disease management, and healthcare; and aims to provide users with convenient, private, friendly, and professional solutions to medical and health problems.
From inviting doctors to provide users with professional and convenient HIV prevention and consultation services, to deploying male sexual health solutions, He Health aims to break the geographical and service barriers to male privacy and health in China, so that more patients can enjoy convenient and professional health services.
About BlueCity
BlueCity (NASDAQ: BLCT) is a world-leading online LGBTQ platform providing a full suite of services that foster connections and enhance the wellbeing of the LGBTQ community through its portfolio of brands. BlueCity's mobile app Blued enables users to conveniently and safely connect with each other, express themselves and access professional health-related services. Available in 13 languages, it has more than 63 million registered users worldwide and is the largest online LGBTQ community in China, India, Korea, Thailand and Vietnam. BlueCity's portfolio of brands of apps also includes Finka, a leading gay social networking app for a younger generation in China, and LESDO, a leading lesbian social networking app in China.
For more information, please contact BlueCity Holdings Limited at:
Vincent Tang: Tangyue@blued.com
Yao Wang: YWang2@webershandwick.com
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SOURCE BlueCity Holdings Limited
FAQ
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