111

111.com.cn

Digital & Ecommerce

Location: China

Year of Investment: 2014

Investment Status: Active

Verlinvest contact: Raphael Thiolon

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Overview

Chinese online pharmacy and health service platform

Founded by Junling Liu and Gang Yu, one of the most talented e-commerce teams in China, also behind the success of multi-billion online grocery business Yihaodian (which they sold to Wal-Mart, and now part of JD.com), New Peak aims at becoming China’s leading and most trusted online pharmacy and healthcare platform.

The company, positioned at the crossroads of the booming Chinese healthcare and e-commerce markets, is primarily focusing on the growth of its direct B2C online drug store, 111.com.cn, which sells both drugs (OTC and prescribed medicine) and a large range of health-related products (lenses, vitamins, supplements, medical equipment, etc.). In addition, New Peak is building B2B online platforms to allow hospitals and pharmacies to directly buy drugs from pharma manufacturers, and therefore reduce the number of intermediaries in China’s drug sourcing chain.

Finally, New Peak is also engaged in the development of an innovative consumer health service portal named Yizhen, which offers remote doctor diagnosis together with extensive drug and medicine information / recommendations.

The founders’ ultimate vision is to enable hundreds of millions of Chinese consumers to get access to higher-quality and more reliable medical services, including more affordable drugs. Verlinvest first invested in the business in December 2014.

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