On June 15, 2020, Yuanxin Technology Ltd (miaoshou.net) announced the completion of 600 million yuan funding in its Series D1 round. INCE Capital is one of the investors. The new funding will mainly be used to develop Yuanxin Technology’s online hospital, healthcare technology, prescription transfer and management, health insurance, and other “hospital-medication-insurance” businesses.
Founded in 2015, Yuanxin Technology has built three platforms for medication dispensing, healthcare delivery and insurance technology to facilitate communications between patients, doctors, hospitals, medication suppliers and insurance suppliers, thus establishing an integrated service system of “hospital-patient-medication-insurance”. To meet the needs of patients, the company is committed to reshaping the diagnosis & treatment and payment path by providing integrated closed-loop services covering all scenarios; in terms of suppliers, it works to empower and integrate all suppliers to improve the structure and efficiency of the supply side. Yuanxin Technology currently has five brands: Miaoshou Doctor, Yuanxin Healthcare, Yuanxin Pharmacy, Yuanxin Huibao, and Wujie Med.
China's healthcare system is transforming into a user-centered integration model from a fractured and scattered one, leading to the reconstruction of the value delivery systems of product makers, service suppliers, and payers. By building the three platforms centering on patients, Yuanxin Technology better meets users’ diverse needs in diagnosis, prescription, medication, treatment, payment, and fee control.
According to JP Gan, a Founding Partner of INCE Capital, INCE Capital thinks highly of the “hospital-patient-medication-insurance” business model of Yuanxin Technology. The integrated “hospital-medication-insurance” expansion requires professional capabilities of each business unit and high coordination among various departments of Yuanxin Technology. INCE Capital believes that Yuanxin Technology will become a major player in China’s Internet healthcare and medication management industry with its highly professional and coordinated team boasting strong capabilities. As an investor of Yuanxin Technology, INCE Capital will keep focusing its attention on the technology-powered healthcare service field.
Investors of Yuanxin Technology’s this round of financing include Sequoia Capital, Qiming Venture Partners, INCE Capital, CITIC Securities, and Index Capital. Index Capital also acts as the exclusive financial advisor of the investment.