111, Inc. Signs Strategic Cooperation Agreement with Jilin Baiyi Doctor Group to Create & Deliver New Models for Internet Medical Services
On January 11, 2021, 111, Inc. (NASDAQ: YI) announced a strategic partnership with Jilin Baiyi Doctor Group to enhance digital healthcare services in Northeast China. This collaboration aims to leverage 111's SMART-enabled platform for efficient patient management and improved healthcare access. The partnership will allow for online consultations, diagnoses, and follow-up care, further aligning with government initiatives promoting multi-channel healthcare. Both companies are committed to improving service accessibility and healthcare outcomes for patients nationwide.
- Strategic partnership with Jilin Baiyi Doctor Group to enhance digital healthcare services.
- Utilization of 111's SMART supply chain for improved patient management and care.
- Alignment with government initiatives promoting virtual healthcare services.
- None.
SHANGHAI, Feb. 5, 2021 /PRNewswire/ -- On January 11, 2021, 111, Inc. ("111" or the "Company") (Nasdaq: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, and Jilin Baiyi Doctor Group Management Co., Ltd. ("Baiyi Doctor Group"), owner of the largest doctor group in China's Jilin province, have entered into a strategic partnership where the companies will leverage the unique capabilities of 111's digital platform to provide SMART-enabled healthcare services and doctor-patient management in Northeast China.
Following the Chinese government's encouragement of doctors to offer multi-channel services, including virtual healthcare services, this strategic partnership between 111 and Baiyi Doctor Group will leverage technology to improve patient care, optimize the use of medical resources, and improve patient experience and outcomes through a holistic approach that "closes the loop" on needed medical services.
111, with its industry leading SMART supply chain infrastructure, will furnish support and professional services through its omni-channel platform to enable Baiyi Doctor Group to provide patients with an internet-based solution for diagnosis and treatment, as well as patient management service. The partnership will allow patients to conveniently access a complete suite of healthcare services - ranging from online medical consultations, to diagnosis, treatment, and follow-up care - all on the same platform. Furthermore, in keeping with both companies' strong commitment to improving the accessibility of quality healthcare services for patients nationwide, 111 and Baiyi Doctor Group will jointly explore additional internet-based innovative models designed to achieve that common goal.
Dr. HUANG Haiyan, Founder and CEO of Baiyi Doctor Group, commented, "Further incorporating digital technology in the healthcare sector allows doctors to provide healthcare services more efficiently, while also enabling patients to access quality healthcare at a time and place that is most convenient for them. With 111's omni-channel drug commercialization platform, cloud-based service solutions, and integrated SMART supply chain, we will be able to significantly widen our service area and reach many more patients."
Dr. YU Gang, Co-Founder and Executive Chairman of 111, commented, "Our commitment to serving patients is the driving force behind all of our service offerings. As a leading digital healthcare platform company, our goal is to leverage our technology and network to digitally connect patients with the products and services that they need. We are pleased to enter into this strategic partnership with Baiyi Doctor Group. Our platform will empower its doctors to better serve their patients, an important objective of our B2D2C (Business to Doctor to Customer) strategy. At 111, we pride ourselves on offering innovative solutions for healthcare providers and patients, and the doctor-patient management platform is one area where we are leveraging our technology, network, and resources to provide an innovative new model for patient life-cycle management."
About Jilin Baiyi Doctor Group Management Co., Ltd.
Jilin Baiyi Doctor Group Management Co., Ltd. is the owner of the largest doctor group in Northeast China's Jilin province. Bayi Doctor Group employs a team renowned experts and professors from Grade-A Tertiary Hospitals. Its impressive array of medical specialties include internal medicine, general surgery, gynecology, neurology, neurosurgery, oncology, orthopedics, traditional Chinese medicine, as well as imaging, clinical lab and rehabilitation. In addition, using the online Baiyi SMART healthcare system, medical experts from Grade-A Tertiary Hospitals are able to offer online-based services to doctors from other medical units, such as city-level and county-level hospitals, and clinics in the remote provinces. These services include remote consultation and inquiry, training, as well as imagining, screening, detection, diagnosis, evaluation and more.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading digital healthcare platform committed to digitally connecting patients with medicine and healthcare services in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Drugstore, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online wholesale pharmacy, 1 Medicine Marketplace, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.
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
US IR Counsel
Email: 111.ir@gcm.international
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SOURCE 111, Inc.
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