111, Inc. Teams Up with Bayer Healthcare to Explore the Vast Blue Ocean of Online Healthcare
On September 24, 111, Inc. formed a strategic partnership with Bayer Healthcare to enhance drug commercialization in China, particularly in tier 3-6 cities. This collaboration will leverage 111's omni-channel platform to improve drug accessibility and patient education for chronic disease management. The partnership aims to develop a digital content portal to facilitate online pharmacist training and patient services. Co-COO Wang Haihui expressed confidence in transforming healthcare delivery, while Bayer's Zhang Jingchuan highlighted the mutually beneficial nature of their expertise.
- Strategic partnership with Bayer Healthcare to enhance drug commercialization in underserved markets.
- Improved patient education and access to healthcare products through a digitalized content portal.
- Collaboration is expected to improve drug accessibility for chronic disease management.
- None.
SHANGHAI, Oct. 19, 2020 /PRNewswire/ -- On September 24, 111, Inc. (the "Company" or "111") entered into a strategic partnership (the "Partnership") with Bayer Healthcare Co. Ltd. ("Bayer Healthcare"). The two companies will collaborate on drug commercialization initiatives in China, including the commercialization of innovative drugs and healthcare products, including for chronic disease management, as well as providing reliable and convenient resources for patient education.
111's omni-channel drug commercialization platform will supplement Bayer Healthcare's existing sales and marketing network. By leveraging 111's vast network of pharmacies and healthcare providers, Bayer will be able to enhance its channel management and patient outreach capabilities, as well as increase its market presence in a number of underserved markets in China's tier 3-6 cities.
With this partnership, 111 and Bayer Healthcare will collaborate to improve drug availability and accessibility and the two companies will also jointly develop a digitalized content portal that will provide online pharmacist training and interactive patient education content and services. A trusted platform with reliable, easily accessible content on disease and healthcare management plays an essential role in empowering patients and healthcare provides to make more informed healthcare decisions. This patient education platform will also enable patients, especially patients with chronic diseases, such as cardiovascular disease or oncology patients, to explore options that could potentially deliver a better quality of life. Further, the patient education platform will allow patients, healthcare providers, and pharmaceutical companies to work together to create a patient-centric healthcare management plan that focus on providing quality service, in a manner that is convenient to the patient.
111's Co-COO, Mr. WANG Haihui commented that he is confident that the strategic partnership between Bayer Healthcare and 111 will allow the two companies to forge a new frontier in the delivery of healthcare products – convenient and efficient delivery of high-quality healthcare products in a manner that fits into everyone's busy schedules. As part of our commitment to providing a digitally and technologically-enabled healthcare delivery platform, 111 will continue to pursue partnership opportunities with pharmaceutical and healthcare companies to further enhance our omni-channel drug commercialization capabilities. In addition, we will continue to invest resources in developing a full life-cycle health management solutions for patients and building a comprehensive, patients-centric, healthcare management and service platform that will digitally connect patients with their healthcare providers.
Mr. ZHANG Jingchuan, Head of National Pharmacy Management at Bayer Prescription Drug Division commented that the collaboration will be mutually beneficial as each company brings complimentary expertise. – Bayer Healthcare's drug discovery and development prowess, coupled with 111's omni-channel digital healthcare platform will pave the way for improving drug accessibility and better treatment options and outcomes to patients. Ultimately, it is a win-win partnership, but the real winner, and the primary focus of both companies, is always the patients we serve.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.com.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading digital healthcare platform committed to digitally connecting patients with healthcare products and 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 Drug Mall, 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
IR Counsel
Email: 111.ir@gcm.international
View original content:http://www.prnewswire.com/news-releases/111-inc-teams-up-with-bayer-healthcare-to-explore-the-vast-blue-ocean-of-online-healthcare-301154693.html
SOURCE 111, Inc.
FAQ
What is the significance of 111 Inc.'s partnership with Bayer Healthcare?
When was the partnership between 111 Inc. and Bayer Healthcare established?
What role will 111 Inc.'s omni-channel platform play in the partnership?
How will the partnership improve patient education?
What is the focus of 111 Inc.'s business model?
