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The rivers and lakes of Daxie and capital: the twenty years of medical e-commerce

Release time:2018-07-23 Browse:1129

Inadvertently, Chinese medical e-commerce has gone through 20 years.


Looking back, it’s amazing.


In 1997, it was the first year of e-commerce in China. The launch of China Chemical Network became the first e-commerce website in China.


In 1998, Shanghai No. 1 Pharmaceuticals opened its own online store, which is the first “medical e-commerce company” in China.


If you turn the clock back to that moment, you will find that Ma Yun is experiencing the second venture dream. At the end of the year, he took the team to a tavern in Beijing to drink, and everyone couldn't help but cry. At that time, he had not yet figured out the name "Alibaba." Alibaba appears in China and will wait another year.


In 1998, Liu Qiangdong was a student who had just graduated for 2 years. He rented a booth in Zhongguancun and sold the recorder. Jingdong enters e-commerce and will wait until six years later in 2004.


Compared with the achievements of Alibaba and Jingdong, the medical e-commerce is responding to the sentence. "It took a long time to catch up with a late episode."


In this highly regulated industry, innovation is like dancing in a donkey. Policies are prosperous, industries are prosperous, policies are tight, and innovation is difficult.


In the past 20 years, the state’s policy on “medical e-commerce” has undergone many adjustments. The online store of Shanghai No. 1 Medicine was stopped because it could not find a policy basis, and it has long since disappeared.


On August 31, 2018, the "Electronic Commerce Law of the People's Republic of China" was passed and will be implemented on January 1, 2019, bringing significant benefits to medical e-commerce.


Today, the scale of medical e-commerce has exceeded 100 billion yuan, and it is on the eve of a new round of outbreaks. Everyone is gearing up, financing financing, listing on the market, a busy scene.


In the past 20 years, medical e-commerce has been a hot spot, and it is also a river and lake with great capital and capital. Recently, the arterial network has interviewed many of them and revisited the situation and ups and downs.

  

Jinghua Yanyun


There are two types of medical e-commerce industry players: Internet background or medical background. Different backgrounds make them bring different genes to the platform for creating or working. The former is heavily operated, and the latter is heavily invested.


For example, Li Hongbo, the founder of the “Pharmaceutical E-commerce First Person” pharmacy network, was born in the Jingwei chain pharmacy, which is known for its new special medicine. After cutting into the pharmaceutical e-commerce in 2005, it was still the chain operation. The “Tianwang+Ground+CRM” was used to build a network of pharmacies that radiated across the country. It was also necessary to build logistics and distribution. The idea was ahead. Ten years later, Renhe Pharmaceutical acquired a 60% stake in Jingwei Yuanhua for 600 million yuan. Li Hongbo continued to be the general manager, playing the DTP model of high-value drugs directly.


Renhe Pharmaceutical's entry into the pharmaceutical e-commerce is the "secondary start-up" of Yang Wenlong, chairman of the Board of Renhe Group. In addition to the pharmacy network, Yang Laozi also laid out the medicine of Dangdang and the fast-acting medicine. The former is invested 72.12 million yuan (sold out) The latter is the popular O2O mode of “web booking shop, online ordering shop”. The store and distribution team are all built by themselves. The main theme is “28 minutes free delivery to home”. The reputation is good but the cost is high. There are not many players left in the road.


In the Beijing, there is a place in Beijing called "Renhe Xiaoguan", which is used for banquet exchanges. It is often full of friends. The banquet has two major characteristics. The first is definitely more than one table. In addition to the VIPs, Renhe Group employees often come to participate, report work and exchange ideas with the father, and secondly, the end is very early, the father runs the pharmacy and the drug is better. The group also took care that after the banquet, it would have to go back to see the data, find the problem, and fix the plan. The Beijing-based medical and medical e-commerce giants are often the guests of Renhe Xiaoguan.


Under the guise of the emperor, before the sacred seat, there were many medical e-commerce businesses in Beijing, and there were Jinxiang.com, Dekai Pharmacy, 111 Medicines, and a good pharmacist. Later, there was a quick delivery of medicine and co-operation. Etc., the modes are different, B2B, B2C, O2O are released.


Of course, in terms of talents, the medical e-commerce business of the Beijing circle has also fully communicated. Xia and Kangkai, who were born in the software industry, traded the early e-commerce business of Jinxiang.com, and later went to Baekje new medicine and search for medicine. Now it is the CEO of Dekai Pharmaceutical; Kang Kai went to the No. 1 pharmacy (1 The predecessor of the drug network), has been the general manager of Tmall Pharmaceuticals, the vice president of Ali Health, and now is the partner and CEO of the rehabilitation family. Oh, yes, the Rehabilitation House acquired the Dekai Pharmacy in 2014. Peter (Xiayu) and Kevin (Kangkai) returned to the same trench. Think about it, CP is still quite strong.


Leading Rehabilitation Home's acquisition of Dekai Medicine is Bo Xi, chairman of the Rehabilitation Home. One of my female counterparts is Bo Xi's "girl". His speech must be heard. His manuscript must be read. His dynamics It must be paid attention to, and it has been interviewed several times with the "duty of the job". The impression evaluation is basically a perfect score. Boss was born in 1977, Leo, and he was born. He went to work in Beijing at the age of 15. In 2005, he founded a rehabilitation home for household equipment stores with the money of marriage. Now he has developed into a whole industry chain of equipment, e-commerce, leasing and health management. Group company. Health, change your destiny.


The rising star of Beijing-based medicine and e-commerce is a co-operator of B2B services. The official online transaction volume in 2017 has exceeded 50 billion yuan. Leading the team to achieve such good results is Yao Xiaofei, founder and chairman of Rongtong E-commerce. In the male-dominated business world, she may be a “heterogeneous”. The returnees, career elites, beauty presidents, and entrepreneurial goddess are her labels. . Yao Xiaofei went to study abroad after high school. After entering the University of Warwick and the London School of Economics and Political Science, he obtained a bachelor's degree in accounting and finance and a master's degree in information management.


Romantic on the beach


In addition to Beijing, Shanghai and Guangdong are also e-commerce highlands. Shanghai has Shangye Yunhe Health, Sinopharm Online, 1 Medicine Network, Pharmacy Network Mall, Yunkai Yamei, Jianyi.com, Guangdong has Jianke, Qilekang, Kang Aiduo, Kangzhijia, “Beijing, Shanghai and Guangdong The South sent a big confrontation with the North." Basically summarized the whole picture of the national medical e-commerce.


1 Drug network is a very "magic" in the field of Internet + medicine. Whether it is a similar company or an ordinary consumer, the impression of this company is unusually good. Technology, supply chain, traffic, word of mouth, 1 drug network, September 12, 1 drug network landed in the US capital market, becoming the first independent medical e-commerce platform listed in the United States.


The background of the two co-founders added a lot to the 1 drug network. Yu Gang and Liu Junling had the first online supermarket in China, and entered the pharmaceutical e-commerce industry.


Of course, for medical e-commerce, the two are also getting started. Yu Gang was born in Shandong, born in Shanxi, and his character is straightforward and affectionate. After graduating from Wuhan University in 1982, he went to the United States to study, obtained a master's degree in theoretical physics from Cornell University, went to Wharton to study at Bo, and served as a professor at the University of Texas at Austin. During his 15 years of academic career, Dr. Yu Gang has written more than 80 academic papers, 4 books, and 3 patents. He is an uncompromising scientific worker.


Prior to founding No. 1 shop, Dr. Yu Gang had already made a name for himself. He founded Collet Technology in the United States in 1995. The aviation management system developed by the company was adopted by many large American airlines and was adopted in 2002. Acquisition of Accenture. In the summer of 2008, the No. 1 shop went online and opened an online supermarket. 1 Pharmacy Network is also a "secondary venture" by Dr. Yu Gang, and it is a staged victory to go to the US for listing.


It’s better to catch up as soon as possible. The pharmacy online mall in Shanghai was launched online pharmacy platform in 2007. At that time, the online pharmacy practitioners were embarrassed, and the real outbreak of the industry would have to wait five years later. Pharmacy Online Mall provides platform, technology, flow and other resources for small and medium pharmacies, and adheres to the open strategy to allow more pharmacies to participate. At present, the pharmacy online shopping mall has connected 600 cities and counties across the country, more than 1,000 pharmacies, and built the largest online platform for small and medium pharmacies in China. Pharmacy Network insists that “no financing, no promotion, no self-operation”, it is not easy to achieve this position.


In April 2018, the arterial network was an industry salon in Shanghai. Zhong Yi, founder of Pharmacy Network Mall, Chen Hua, 360 health CEO, and Huang Hui, deputy general manager of Yunkai Yamei, were all talking about things in the circle. Quite a lot.


Chen Hua has been in the Internet medicine circle for 17 years. In the early years, he joined the No. 1 pharmacy (predecessor of the 1 drug network) and served as CEO in 2010. He came to 360 Health in 2015. 360 Health is a pharmaceutical portal of Qihoo 360. It is a medical e-commerce platform. It also does Internet medical and cross-border medical treatment. Clicking on the home page is the same as 39 Health Network. However, Chen Hua is more admired for pharmacies and e-commerce "energy", with SaaS services to allow more pharmacies to enjoy e-commerce dividends, skill and effort are spent a lot.


Huang Hui, deputy general manager of Yunkai Asia and the United States, is a rare female at the helm of the e-commerce circle and is known as the “first beauty of e-commerce”. The team was originally working as an agent for organ transplants under Haizheng Pharmaceutical. The traditional gene is very strong. Instead of winning with traffic and price, it chose the development path of vertical service e-commerce, heavy service, online CSO. It is its special feature.


There is also a big sister in Shanghai Medical and Electronic Business Circle, Wang Letian, general manager of Sinopharm Online. Wang is always in the background of the Internet industry. He worked as a telecom value-added service, streaming media, music and digital copyright in his early years. He joined the company in 2013 and became a CTO of the good pharmacist under the Kyushu Express. He joined Sinopharm Online in 2015. Sinopharm Online is the online and external cooperation portal of more than 400 retail and distribution companies of Sinopharm Group. Yunfeng of Ma Yun and Fosun of Guo Guangchang have all invested in Sinopharm Online. In terms of management structure, it belongs to Sinopharm Holding Co., Ltd., which is in line with Sinopharm, Sinopharm shares and provincial distribution companies, and should be a “office level” unit.


Huizhu Pearl River Delta


Also entering the pharmaceutical e-commerce industry from the Internet industry is the guest CEO Xie Fangmin, who was responsible for sales at eLong. He was one of the first employees to join Baidu. He has served as Baidu South China Sales Manager, Senior Manager and Sales Director. .


On September 4th, Jianke announced that it has received a $130 million Series B financing. This round of investment was led by Gao Tejia, and funds such as HBM jointly invested, and A-round investor Kaixin Capital continued to invest. Jianke also said that it is expected to go public in the US next year.


The e-commerce industry is very bitter. In Guangzhou, Kang Yanduo's founder Wang Yanxiong “goed ashore” earlier than most electric businessmen. He is a Chaoshan person who has studied Chinese medicine and has been a grassroots civil servant who has been a drug supervisor. Chaoshan people love to do business, do business, and squat down on business. Kang Ai took advantage of the traffic dividend of the Tmall Medical Museum. He won the reputation of “the prince” and won the first place in the industry. In 2014, the listed company Taiantang acquired Kang Aiduo for 350 million yuan. Wang Yanxiong retired and raised an industrial fund to become a business entrepreneur.


A Kang Health Chairman Wang Lizhen also worked in Kang Aiduo, A Kang Health wants to empower the industry through supply chain integration services, "Let the world have no hard to find medicine", chronic disease, out-of-hospital, grassroots, Internet + medicine is the main direction . A Kang Health has a lot of actions recently. In cooperation with all parties, it has also received tens of millions of yuan of financing from GF-Send. The development situation is gratifying.


Zhang Xiangbing, who had worked together in Kang Ai, also went to Akang Health. Zhang Zhibing was a veteran of the medical e-commerce industry. He worked in Jiuzhoutong for 5 years in the early years and was responsible for the online B2B business and served as the website operation manager. He joined Kang Aiduo in 2011 and left in 2014. He served as assistant general manager and marketing director of Kang Aiduo. Since then, he has joined the general manager of Xiansheng Kang, and he became a good pharmacist COO in 2015. Going around and returning to Guangzhou, it is difficult to give a taste of Cantonese.


Medical e-commerce operators of different industry backgrounds often have different ways of thinking about things. Operators of the Internet industry like to use "painful thinking", what are the pain points of the industry, and how to solve them by means of the Internet - information asymmetry , resource allocation is not balanced, lack of evaluation mechanism.


Traders from the pharmaceutical industry care more about the “input-output ratio”. The Internet is just a technology. Websites, APPs, and online medical services are just a tool. The last thing to solve is the problems of supply chain, store customers and retention. And the last mile of the problem.


Therefore, cross-border thinking is rare, and cross-border talents are even more rare. To sum up, "Internet + Medicine" is easy to say, and "medicine + Internet" is difficult to do.


Foreign moons are not always round


As an e-commerce company, eBay and Amazon are the originators of the United States. Only Alibaba and Jingdong have been established in China. To do medical e-commerce, the US data is often used to confirm.


In terms of scale, the United States is the world's largest drug market, and Statista's data shows that the United States' 2016 drug expenditure was $450 billion. In the same year, the global drug expenditure was 1.1 trillion US dollars. That is to say, Americans “eat” 40% of the world's drugs, which is a well-deserved “medicine jar”.


The United States implements a strict "separation of medicines" system, coupled with perfect prescription management, the structure of drug circulation terminals is very different from that of China. According to the sales scale, the size of the domestic and overseas channels of the US pharmaceutical market is about 3:7. The main out-of-hospital channels include retail chain pharmacies, single pharmacies, PBM mail order, and Shangchao pharmacy.


Independent medical e-commerce is not developed in the United States. According to eMarketer and Statista data, the size of US medical e-commerce in 2017 is about 20 billion US dollars, accounting for 4.5% of the entire pharmaceutical retail market. The size of domestic B2C e-commerce is between 30 billion and 50 billion yuan, accounting for more than 13.5%.


The United States is developed by mail order and "inline and offline" mode. Mail order is generally provided by drug welfare management agencies (large companies such as CVS Caremark and ESI) by mail to manage members, CVS pharmacy service income (including mail order) 2017 The year is 130.6 billion US dollars, far higher than the retail business of 79.4 billion US dollars; Walgreens, CVS is also the originator of the "online and offline mode" combination, through the website, APP and other means to open online and offline, to provide medicine for members, For example, Walgreens' walgreens.com and drugstore.com are the most well-known medical e-commerce companies in the United States.


Of course, the “drug+medical” model is also one of the characteristics of the US pharmaceutical retail industry. Walgreens has more than 400 “pharmacy clinics” and CVS has more than 1,100 “minute clinics”. Providing basic medical services is convenient, fast, and inexpensive, and has won the favor of members and payers.


The US model certainly provides experience and value for domestic pharmaceutical retailers and e-commerce companies, such as improved pharmacy service capabilities, omni-channel access, and insurance integration. For the domestic chain pharmacies and e-commerce in the context of prescription outflow, there are still problems such as prescription source, drug supply support ability, pharmacy service ability, medical insurance and other issues to be solved. The American model has certain reference significance.


Jianke CEO Xie Fangmin also said that China and the United States are different, and the industry’s prejudgment cannot be generalized. The United States is a "one dollar structure". Regional differences and urban-rural differences are not large. China is a "dual structure". Regional differences and urban-rural differences are large, resulting in uneven distribution of quality medical resources. Under the background of "Internet +", Internet + medical, Internet + medicine can be used to solve the problem of imbalance of medical resources. This is also policy-oriented and has a good development prospect.


Fierce capital


Capital participation in pharmaceutical retailing and pharmaceutical e-commerce is an important performance. In recent years, professional investment institutions such as Guangfa Shunde and Gaochun Capital, industrial enterprises such as Guangyao Baiyunshan, Tasly Group and Buchang Pharmaceutical have participated in the M&A of pharmaceutical retail industry, plus The listed retailers of pharmaceuticals have added to the merger of small chain pharmacies, and the “enclosure movement” of the pharmaceutical retail industry has been vigorously carried out. The addition of Internet + pharmaceutical companies such as Ali Health has brought more checks and balances to the industry.


Of course, Ali Health itself is also a source of capital. In January 2014, Ali teamed up with Yunfeng Fund to invest US$170 million in Hong Kong stocks, CITIC 21, which was around HK$0.5 and had a market capitalization of just HK$2 billion. As of September 13, Ali Health's share price was 7.36 Hong Kong dollars, with a market capitalization of 85.9 billion Hong Kong dollars. 50 years of growth in 4 years, the return on investment is amazing.


In fact, the entry of large platforms such as Ali and JD has become an important factor influencing the pattern of pharmaceutical e-commerce. In the case of Ali, Ali Health is Ali's “flagship platform” in the medical field. According to financial report data, Ali Health Operations and the agent's Tmall medical platform GMV exceeds 50 billion yuan, which is the largest comprehensive import of pharmaceutical e-commerce. In other words, to do medical e-commerce, basically can not bypass the Ali platform.


The vast pharmaceutical e-commerce market has a lot of capital players. The bigger ones are Yunfeng, Fosun, IDG, Jingwei, Softbank, Aurora Borealis, smaller funds and individual investors. Medical e-commerce has both Internet attributes and retail attributes. Offline investment is very important and is a “heavy” mode. This means that this is not a win.

  

Data source


Specialization is another major feature, including participation in prescription outflows, new special pharmacies, and DTP pharmacies. Looking at the outflow of prescriptions, there are currently companies such as Baiyangyi, WeChat, Ali Health, Jiuzhoutong, and Keyuan Circle to arrange such businesses. Xi'an, Chengdu, Chongqing, Tianjin and other places also support policies, but national, Large-scale hospital prescriptions have not yet formed. Traditional giants such as Shanghai Pharmaceuticals, Sinopharm, and China Resources are doing DTP pharmacies, with a market size of more than 30 billion yuan.


Medical e-commerce has never been an independent industry. It has a deep relationship with medical services, pharmaceutical retail, and even medical insurance and commercial insurance. In the past two decades, policies have changed, capital or participation, and industries are in the process of twists and turns. Row. Fortunately, the head enterprises with clear strategy, excellent team and persistent direction have emerged, which has propped up the "fundamental aspect" of industrial development.


After the year, the waves push the waves, and Jiangcaojiang flowers are everywhere.


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