Dingdang Health Raises US $ 220 Million in New Fundraising | 2021-06-07 | Press Releases
Mr. Yang Wenlong, Founder and Chairman of Dingdang Health, said, “With this round of funding, Dingdang Health will continue its online-to-offline strategy to cover services, including medical care, drug delivery and medical insurance. new trend of online healthcare and drug services in the midst of Covid-19, we aim to provide comprehensive online services to meet various needs including consultation, drug purchase, chronic disease management and psychological counseling through product upgrades and technological innovation. ”
“I would like to express my sincere gratitude to our existing and new shareholders for their recognition. Investors such as TPG, OrbiMed and Redview Capital have extensive experience investing in healthcare. Looking to the future, with their support , we will remain dedicated to accelerating the digitization of medical care and medicine, providing comprehensive service to customers, ”Mr. Yang said.
With a deep understanding of the industry and knowledge of users, Dingdang Health has continued to invest in product upgrades to grow the business. As a pioneer of online health products and service providers, Dingdang Health’s online to offline model enables it to supply drugs from pharmaceutical manufacturers and pharmacies offline to meet the urgent medical needs of users. . The company has also expanded its activities into other areas such as medical care, drug delivery and medical insurance. The strategy has helped the platform to remain competitive in the Chinese digital health and wellness market.
Lydia Cai, Managing Director of TPG Capital Asia, said: “Public demand for digitization and healthcare has become increasingly acute as part of the new normal due to Covid-19. Dingdang Health’s business model perfectly combines both digitalization and healthcare. Leveraging big data and Internet technologies, the company has created a pioneering self-help model that provides online medical care and drug delivery services. It connects pharmaceutical companies, pharmacies and users in a global ecosystem with timely and caring services. As the company moves towards a provider-integrated healthcare system, TPG is optimistic about its technology, model and potential, and will fully support its rapid growth to benefit more users. ”
TPG is a leading global alternative asset company founded in 1992 with more than $ 91 billion in assets under management. It is one of the first international giants of private equity investment which created an investment team dedicated to health. He has extensive experience investing in this space on a global scale.
Iris Wang, OrbiMed partner, said, “Dingdang Health strengthens the local health system and gives new impetus to the development of the industry by using efficient information technologies, including AI, big data, 5G and the Internet of Things. Its capabilities in both technological and professional healthcare innovation allow ordinary people to have a medical consultation and buy drugs without leaving their homes. We are delighted to partner with the company at an important stage in its development and to continue to create value in terms of protecting human health and promoting the development of the industry. ”
OrbiMed has focused on investments in the global biomedical field for more than two decades, with assets under management exceeding US $ 17 billion. The team has extensive knowledge of the Chinese basic healthcare market and continues to identify companies that can provide professional services in this area.
Xin Wang, Partner of Redview Capital, said, “Redview Capital is committed to working with industry-leading companies with innovative capabilities. Dingdang Health has been engaged in the field of medical care and online pharmacy for many years. With a comprehensive online consultation plan and drug ordering platform as well as offline smart pharmacy retail stores, it provides one-stop health services including online consultation, advice on medicines, home delivery and health management, exhibiting strong innovation, technological capability and competitiveness. We will fully support the continuous development of Dingdang Health and work with it to promote people’s health. ”
Redview Capital is a China-focused private equity fund that invests in sectors such as emerging consumer goods and services, healthcare, new materials, clean energy, consumer services and high-end manufacturing sectors. range.
About Dingdang Health
Dingdang Health Technology Group is a pioneer and leader in digital health services in China, leveraging internet solutions / technologies to transform and reshape the Chinese healthcare system, including pharmaceutical retail and consulting medical. As a new digital pharmaceutical retail company, it has implemented a new pharmaceutical retailing model that integrates online and offline operations of “order online for delivery in store”, offering to users a series of products and services, including 7 * 24 hours, 28 minutes to deliver drugs to users in the core of cities. With the innovative “Internet + Healthcare” model, it is able to respond to unmet drug and healthcare management needs effectively and efficiently. Its pharmaceutical retail, online medical consultation, chronic disease management and other businesses cooperate to form a broader health ecology, transform and lead the development of the Chinese health care market. It has received several investment rounds from well-known investment institutions such as SBCVC, CMBI, CICC Capital, Sinopharm-CICC Capital, Taikang Insurance Group, Longmen Investments and Haier Biomedical.
TPG is a leading global alternative asset company founded in 1992 with over $ 91 billion in assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore and Washington DC TPG investment platforms cover a wide range of asset classes including private equity, growth stocks, impact investing, real estate, funds secondary and public actions. TPG aims to create dynamic products and options for its investors while instituting discipline and operational excellence in its investment strategy and portfolio performance. For more information, visit www.tpg.com or @TPG on Twitter.
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