111, Inc. Partners with Baiyunshan Pharmaceutical Sales in Digital Medicine Innovation
On August 25, 111, Inc. (Nasdaq: YI) and Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd. signed a strategic cooperation agreement in Shanghai. This partnership aims to innovate digital medicine and enhance the distribution of Baiyunshan's medical products in both online and offline markets. The collaboration will also leverage big data, digital marketing, and patient services to create an effective value chain. This initiative reflects the increasing importance of digital healthcare, especially amid the ongoing COVID-19 pandemic, and aims to improve patient access to medical services in China.
- Strategic partnership with Baiyunshan enhances market reach and product distribution.
- Focus on digital medicine innovation aligns with industry trends post-COVID-19.
- Utilization of big data and digital marketing aims to improve patient services.
- None.
SHANGHAI, Sept. 4, 2020 /PRNewswire/ -- On August 25, 111, Inc. ("111" or the "Company") (Nasdaq: YI), a company dedicated to digitally connecting patients with drugs and healthcare services in China, and Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd. ("Baiyunshan Pharmaceutical Sales"), an affiliate of Guangzhou Pharmaceuticals Corporation, signed a strategic cooperation agreement in Shanghai. Under the agreement, 111 will be the first Internet-based omni-channel business partner of Baiyunshan Pharmaceutical Sales. Both parties will deepen their cooperation in digital medicine innovation to drive the penetration of its expansive portfolio of medical health products into wider online and offline markets through integration of 111's smart supply chain. The partnership also extends to cover the likes of big data, digital marketing, brand co-building and offering of direct services to patients, making concerted efforts to create a quality value chain.
Internet-based medical and health companies have played an active role in the fight against the global COVID-19 pandemic crisis this year, reflecting their value and contributions with recognition from the communities and nations.
Pei Zejian, Vice Director, Great South TCM, Guangzhou Pharmaceutical Holdings Limited, Secretary of the Party Committee and Chairman of Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd., said the pandemic further accelerated the development of digital healthcare industry and Internet is becoming an increasingly important channel to pharmaceutical companies. Internet not only helps to improve the accessibility of medicines, but also make it convenient for patients to receive medical services. As leader in the industry, 111 has a unique business model that enables and helps pharmaceutical companies to transform and thrive in the Internet era. With a strong basis for cooperation, Baiyunshan Pharmaceutical Sales and 111 are confident that by leveraging and combining their strength, the partnership will benefit more patients in the future.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111 Inc., said that when the medical and health industry ushered in the tide of Internet, Baiyunshan Pharmaceutical Sales always embraces change with an open and innovative mind. In years of cooperation, 111 Inc. and Baiyunshan Pharmaceutical Sales have established strategic partnership. This tight relationship will further expand the depth and breadth of cooperation between the two companies. Driven by 111's digital technology, and supported by the strategy of omni-channel drug commercialization and online/offline integration, the high-quality products of Baiyunshan Pharmaceutical Sales can reach more customers.
About Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd and Company
Baiyunshan Pharmaceutical Sales Co., Ltd. is an all-in-one marketing platform of Guangzhou Pharmaceuticals Corporation, which has so far integrated marketing businesses of four companies, namely, Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., Guangzhou Baiyunshan Guanghua Pharmaceutical Co., Ltd., Guangzhou Baiyunshan Jingxiutang Pharmaceutical Co., Ltd. and Guangzhou Baiyunshan Mingxing Pharmaceutical Co., Ltd. The company is operating business of branded products under different trademarks, covering over 300 types of medicines including anti-ED drugs, antibiotics, Chinese patent medicines, and others based on pure traditional Chinese medicines, among others.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a company dedicated to digitally connecting patients with drugs and healthcare services in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and medical services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online medical services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company's online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company's New Retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.
For more information on 111, please visit: http://ir.111.com.cn/.
For more information, please contact:
111, Inc.
Investor Relations
Email: ir@111.com.cn
111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)
GCM Strategic Communications
IR Counsel
Email: 111.ir@gcm.international
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SOURCE 111, Inc.
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