Miaoshou Doctor Completed USD 72.8 Million Series C Plus Financing
COVID-19 and China
Online Healthcare. PHOTO: rawpixel on Unsplash

On January 7, 2019, Miao Shou Doctor (妙手医生) officially announced the completion of the USD 72.8 million C plus financing, led by Starquest Capital, followed by Sequoia Capital China and other investors. The funds will be used for the comprehensive upgrade of Miaoshou online hospital, medical record tracking and management system, and the construction of departments, in the hope to provide patients with better healthcare services.

Founded in 2015, Miao Shou Doctor now has 5 business units: Miao Shou Doctor Online Hospital, YUAN Xin (圆心) Chain Pharmacy, Miao Shou Doctor App, Miao Shou mall for drug companies to sell medicine to patients directly, and a platform for prescription sharing.

Miao Shou Doctor has already built a professional nation-wide platform for doctor-patient 2nd time meeting, and a Medication Dispensing Center. A new health management model featuring the combination of "Internet, healthcare, and medication" is also established with the aid of Information technology. The business model is widely recognized and praised by industry related personals and organizations: hospitals, doctors, patients and so on.

Previously in April 2018, MIAO Shou Doctor received a package of approximately USD 73 million in its Series C financing, this was led by Tencent Industry Win-Win Fund (腾讯产业共赢基金) and followed by Kun Ling Capital (鲲翎资本), Sequoia Capital China, and Qiming Venture Capital (启明创投). (More on Scope on Miaoshou Doctor: China's Emerging Online Healthcare)

The founder and CEO of MIAO Shou doctor, HE Tao (何涛), reviewed its company's strong performance and development at its brisk pace in 2018: MIAO Shou Doctor's delivery successfully covered 20 provinces and 63 cities in China as planned; All together four departments enabled with doctor-patient 2nd time meeting service and medication dispensing had been put into effect; It also embarked on the journey of actively searching for cooperation partnerships with Chinese top-level hospitals - Tertiary hospitals, to jointly construct the platform to achieve prescription sharing, and to further improve the management and the performance of its online hospital, winning recognition from many first-tier pharmaceutical companies from home and abroad.

2019 would be a year to witness rapid development in the healthcare industry. Miao Shou Doctor will focus on "service delivery" this year and continue to provide professional information, service, and products to patients, doctors, hospitals, and other industry related parties.

Surfing the waves in China's new economic era, as one of the industries the government is developing most vigorously – "Internet + Healthcare", enterprises need to have systematic industry knowledge and very stable service delivery ability to survive and flourish in this round of Health Care Reform. The fund believes that the Miao Shou Doctor is a company that has accurate understandings about the industry and capable of a wild expansion, also, very much "in line with our investment philosophy", said the CEO of the private equity firm. The fund is even positive that in the future, the company will be able to grow into a leader in the "Internet + Healthcare" industry.

Zhou Kui (周逵), partner of Sequoia Capital China said: "Step by step" is the impression that I have for Miao Shou Doctor after we had cooperated with each other for many years. Every time I communication with Miao Shou Doctor, I recognize their deeper understandings of the industry and the business, and the progress of the company's development. Their action speaks louder than words, they want to be a "one centimeter wide, but one-kilometer deep" type of entrepreneurial enterprise, focus on the good quality of their products and service, keep their feet steadily on the ground. In the era of great changes in the industry, and in the country; Miao Shou Doctor is ready.


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