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.