SHANGHAI, Jan. 13, 2020
/PRNewswire/ -- 111, Inc. (NASDAQ: YI) ("111" or the "Company"), a
leading integrated online and offline healthcare platform,
announced that it has entered into a strategic partnership with
Bestyoo, a prescription information sharing solutions provider in
China. 111 will work with
Bestyoo's third-party online prescription information transferring
and sharing platform (the "Platform") to provide its users with
prescription-based online drug purchase and home delivery services.
Bestyoo and 111 will also jointly provide online consultation
services to patients. This strategic partnership is expected to
create a more standardized and feasible process for prescription
information sharing and online sales of prescription drugs,
bringing easy-to-access healthcare services to more patients in
As a leading domestic "Internet + Medicine" high-tech company in
China, Bestyoo is committed to the
development, promotion and application of prescription services.
Bestyoo currently has one Gansu Provincial-level and six
prefecture- and municipal-level platforms connecting more than 300
hospitals and covering 100 million patients.
111 Explores Ways to Standardize Online Prescription Drug
111 and Bestyoo will launch their pilot Platform in Gansu Province, where China's first provincial-level "e-prescription
information-sharing platform" was jointly developed by Bestyoo and
the provincial health commission authority. The partnership is
expected to facilitate online hospitals and online retail
pharmacies in stimulating the standardization of drug
prescriptions, sales review and drug delivery.
Local patients are now able to access their "e-prescription"
through Bestyoo and select channels for drug purchase and follow-up
consultations. 111's integrated systems will also avail patient
prescription drug delivery services.
Following the implementation of the new Drug Administration
Law on December 1, 2019, online
prescriptions are now permitted under certain conditions. How
healthcare e-commerce companies operate and serve patients under
these new rules are a focal point.
Guanglei Ma, General Manager of
Bestyoo commented, "Authentication and standardization are a
condition precedent to sustaining a robust online prescription drug
market. As part of the basic procedure for prescription drug sales,
both offline and online pharmacies need to ensure the prescriptions
they are receiving are authentic. Bestyoo's Platform connects to
the prescription review platforms of local health commission
authorities and hospital healthcare information systems (HIS). This
creates a standard prescription library that provides secure
prescription authentication and establishes a solid base from which
we can further grow our online prescription services."
Tong Liu, SVP of Government Relations of 111 commented that
, as a market leader, 111 has always placed an emphasis on strict
regulatory compliance throughout its operations and the Company
aims to be an industry trendsetter during this transformative
phase. From a regulatory standpoint, online supervision is
efficient and traceable, and information exchange and sharing will
further promote standardization and the transfer of prescription
information out of hospital systems. Liu points out that Bestyoo
offers clear operational advantages and that its "third party",
"ease-of-supervision" and "high feasibility" features all ensure
the validity, authenticity and traceability of prescriptions. He
believes that this strategic partnership will set the standard for
compliance for online sale of prescription drugs, and provide a
valuable reference point for regulators and industry players as
they explore other ways to promote the standardization process of
online prescription drug sales.
Leveraging the Internet to Provide Better Healthcare
The migration of prescriptions out of the hospital system is now
a prevailing trend. Industry experts expect this migration to
accelerate over the next 5 years.
Pengcheng Zhu, Co-COO of 111
commented that the "online prescription information transferring
and sharing platform + medical e-commerce" model leverages the
Internet and is an effective way to improve the efficiency and
quality and coverage of medical and health services. The strategic
partnership with Bestyoo enables 111 to accelerate its preparations
to capitalize on the new non-hospital prescription drugs trend. The
partnership has resulted in the IT-transformation of the
"hospital/non-hospital" system, and the creation of patient-centric
and integrated "doctor + drug" experience, facilitating drug
purchasing and follow-up consultations. It will also not only help
to increase the availability of medicines, especially for patients
with chronic diseases that require refills in remote areas, but
also educate patients on compliance and thus promotes better
overall health. Zhu noted that in view of the increasing incidences
of chronic diseases in China,
faced with a rapidly aging population, this partnership will have a
particularly important social impact.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
Business Outlook and quotations from management in this
announcement, as well as 111's strategic and operational plans,
contain forward-looking statements. 111 may also make written or
oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Such statements are based upon
management's current expectations and current market and operating
conditions and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Forward-looking statements involve inherent risks, uncertainties
and other factors that could cause actual results to differ
materially from those contained in any such statements. Potential
risks and uncertainties include, but are not limited to,
uncertainties as to the Company's ability comply with extensive and
evolving regulatory requirements, its ability to compete
effectively in the evolving PRC general health and wellness market,
its ability to manage the growth of its business and expansion
plans, its ability to achieve or maintain profitability in the
future, its ability to control the risks associated with its
pharmaceutical retail and wholesale businesses, and the Company's
ability to meet the standards necessary to maintain listing of its
ADSs on the Nasdaq Global Market, including its ability to
cure any non-compliance with Nasdaq's continued listing criteria.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and 111
does not undertake any obligation to update any forward-looking
statement as a result of new information, future events or
otherwise, except as required under applicable law.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
integrated online and offline healthcare platform in China. The Company provides hundreds of
millions of consumers with better access to pharmaceutical products
and healthcare services directly through its online retail pharmacy
and indirectly through its offline pharmacy network. 111 also
offers online healthcare services through its internet hospital, 1
Clinic, which provides consumers with cost-effective and convenient
online consultation and electronic prescription services. In
addition to providing direct services to consumers through its
online retail pharmacy, 111 also enables offline pharmacies to
better serve their customers. The Company's online wholesale
pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to
source a vast selection of pharmaceutical products. The Company's
new retail platform, by integrating the front and back ends of the
pharmaceutical supply chain, has formed a smart supply chain, which
transforms the flow of pharmaceutical products to pharmacies and
modernizes how they serve their customers.
For more information on 111, please visit
For more information, please contact:
Ms. Monica Mu
Mr. Christian Arnell
Ms. Linda Bergkamp
SOURCE 111, Inc.