WeDoctor (Hangzhou) Group Co., Ltd.

WeDoctor is a Chinese digital medical service platform, headquartered in Hangzhou, China, founded by Liao Jieyuan and his team in 2010. With the mission of "Your Health, We Care", WeDoctor is committed to being driven by technology and innovation, empowering all participants in the medical service value chain, including medical service providers, payers, and supply chain parties, to achieve deep integration of online and offline medical resources, providing hundreds of millions of users with integrated online and offline medical services and health maintenance services across multiple scenarios, enhancing the accessibility, effectiveness, and affordability of medical services, and improving the overall efficiency of China's medical and health service system. After ten years of exploration, WeDoctor currently has three major business segments: medical (internet medical consortium), pharmaceutical (pharmaceutical trading center), and digitalization (hospital internet platform). Among them, the medical segment will be listed on the Hong Kong Stock Exchange this year. As of December 31, 2021, WeDoctor has connected with more than 7,900 hospitals nationwide, including over 95% of Grade III Level A hospitals; owns 33 internet hospitals, of which 18 have enabled online medical insurance payment; connects nearly 300,000 registered doctors and 260 million registered users, with an average monthly paying user count exceeding 33.8 million in 2020. WeDoctor uses its digital platform as a carrier to assist governments at all levels in gradually advancing medical reforms, providing high-quality and efficient medical and health services to the public, and continuously promoting the agglomeration and development of local digital health industries. In 2010, WeDoctor started with Shanghai Huashan Hospital, helping the hospital optimize its medical procedures and alleviate the problem of "difficulty in getting registered". Over the past decade, it has helped patients save over 20 million working days of queuing time in tertiary hospitals. In 2015, WeDoctor established the internet hospital - Wuzhen Internet Hospital, pioneering new business forms in China such as online diagnosis and treatment, prescription circulation, and online medical insurance payment. It was called "the epitome of China's internet innovation and development" by General Secretary Xi Jinping in his keynote speech at the Second World Internet Conference. In 2017, WeDoctor digitally empowered the Sanming medical reform, and the digital pharmaceutical trading platform (Xiamen Haixi Pharmaceutical Trading Center) created in assisting Sanming's drug reform undertook the construction of the national drug and medical consumables procurement management platform of the National Healthcare Security Administration, and was commissioned by the Sanming Procurement Alliance (National) to carry out cross-regional joint procurement of drugs and consumables. To date, transactions exceeding 290 billion yuan in drug and consumable transactions have been completed, making it one of China's pharmaceutical trading platforms. In 2019, the chronic disease medical consortium model launched by WeDoctor in Shandong reduced the time for chronic disease patients to return for follow-up visits and purchase medicines from 2-3 hours to 30 minutes, lowered the average prescription cost by 12.7%, shared 15-20% of the outpatient pressure for large hospitals, and relatively saved 10.2% of medical insurance fund expenditures on chronic diseases. This formed the "Shandong Model" of "Internet + Three Medical Linkages" service and reform, which was highly recognized by the Central Reform Office and was included in the "Reform Internal Reference" national reform cases in 2021. In 2020, WeDoctor created a compact medical consortium in Tianjin, led by internet hospitals and involving 266 grassroots medical institutions across the city, with "Four Clouds (cloud service, cloud management, cloud pharmacy, cloud examination)" achieving "Four Unifications (shared responsibility, unified management, homogeneous service, and shared benefits)" for grassroots medical institutions across the city. This was awarded by the National Health Commission as one of the top ten medical reform initiatives and is considered a representative of the 3.0 model of medical consortiums. Based on the compact medical consortium, diabetes per-capita payment management was implemented, achieving a standardized management rate of 76.93%, generating medical insurance surplus of 16%-31%, and creating the "Tianjin Model" for diabetes management from four dimensions: diagnosis and treatment, management, payment, and performance. From 2019 to 2020, WeDoctor successively appeared on the global list of digital health unicorns published by CB Insights, a well-known American data think tank. In November 2020, MIT Technology Review, an internationally renowned tech media, released its annual "50 Smartest Companies" list, and WeDoctor was selected as a Chinese digital medical enterprise. In the future, WeDoctor will continue to join hands with partner institutions such as medical institutions, doctors, medical insurance, commercial insurance, and pharmaceutical enterprises to jointly promote the digitalization of China's medical and health service system and strive for the health and well-being of hundreds of millions of users.