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​Ping An Healthcare expands business in medical e-commerce
2018-07-24 09:49

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China's largest insurance company the Ping An Insurance's medical arm, Ping An Healthcare has recently attained the qualifications for running Business-to-Business (B2B) and pharmaceutical wholesaler services.

The move was believed as an intention for the company to march into the medical e-commerce sectors and enhance its industrial chains by integrating the pharmaceutical wholesaler medical supply chain, healthcare shopping malls, drugstore partners, internet hospitals, and family doctors among other services.

The company had obtained its certificates for operating third-party online medical services and pharmaceutical retail businesses earlier. Now, the operating cost of its healthcare shopping malls will be cut down as the company can buy medicine in bulk directly from drug manufacturers.

The pharmaceutical market reached 2.0016 trillion yuan in 2017, according to a report from China's Ministry of Commerce, an increase of 8.4 percent year-on-year. The drug wholesalers market amounted to 13,146 at the end of 2017. The market tended to decentralized when the number of drug wholesalers surged while the sales volume dipped.

Despite an enormous drug market in China, the wholesalers are spread out regarding their locations. Meanwhile, most of the 13,000 companies were locals, generally with low market shares.

The Chinese government prompted medicine delivery services at the beginning of 2017 by introducing related policies to facilitate in the building of drug delivery networks consisting of big and small drug wholesalers.

Wang Tao, the CEO of Ping An Healthcare, had noted the company had partnered with over 10,000 offline drugstores and had rolled out its one-hour delivery services in dozens of cities in China.
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