C-round financing of 100 million US dollars, covering thousands of hospitals to create a closed loop of chronic disease services, detailing the road to healthy development of Zhiyun

At the beginning of 2019, the arterial network was informed at the first time that the digital health enterprise Zhiyun Health, which is mainly engaged in chronic diseases, completed the C1 and C2 rounds of financing, with a total amount of 100 million US dollars. According to Zhiming Health CEO Yan Ming, its C1 round of financing was completed in 2017. After a short period of time, it completed the C2 round of financing. The C2 round was jointly led by China Gold Capital and China Power Health Fund, Ping An, Tasly and Samsung. Capital and investment, by probe capital as an exclusive financial advisor.

Zhiyun Health / Pocket Sugar Medical History Financing

From the handheld sugar medicine in 2015 to Zhiyun Health in 2019, Yu Ming’s entrepreneurial road has come to the fifth year. After the end of 2018, Zhiyun's healthy SaaS system has laid nearly 1,000 hospitals, and the number of data processed each year is about 1 billion. In 2018, the number of service users exceeded 20 million.

As a leader in the field of chronic diseases, Zhiyun Health has emerged from the "Hundred Sugar Battle" in the past 15 years, and focused on the entire field of chronic diseases. The arterial network conducted an exclusive interview with Yan Ming and the development of Zhiyun Health. The road was explained in detail.

Zhiyun Health CEO Yu Ming

The main points of this paper include:

1. Before and after the Battle of Hundred Sugar, platform companies began to burn the "battle", but the handheld sugar doctors "waked up" in time;

2. From To C to To B, the underlying logic of Zhiyun Health;

3. Based on the data-based chronic disease management model, “governance” + “therapy” creates a slow disease management ecosystem and builds industrial advantages from real needs;

4. Pure ToC chronic disease management, pure e-commerce logic, part of the chronic disease business model is being falsified;

5. The chronic disease service payers are divided into five categories, and the final payer of the chronic disease is the patient.

"To C's madness"

In 2015, the digital medical entrepreneurial boundary continued to expand, and a large number of foreign participants brought new technologies, new ideas and new capital. A large amount of hot money poured into digital medical innovation projects, “Hundred Sugar Battle” and “ Terms such as B2B trading platform and "big data" appeared in the digital medical field. According to statistics, in 2015, a total of 764 digital medical financing events were completed, amounting to 33.45 billion.

The trend of mobile medical presentation is segmented, and the mobile chronic disease management market is developing rapidly. Among them, the diabetes segment is the fastest growing. In 2015, with the application of mobile applications, companies targeting the diabetes field have sprung up. Users can easily find hundreds of diabetes apps in their mobile phones, and a “Hundred Sugar Battle” has been staged in the diabetes field.

That is the most insane period of mobile medical care. The platform-based enterprises with to C as the main model mainly focus on registered users, daily activities, monthly activities and other indicators, and open up the online subsidy model. In the words of Yu Ming, that is the "crazy" moment of ToC.

At that time, Zhiyun Health, also known as Pocket Medicine, is a chronic disease service management application based on diabetes data with the ultimate goal of improving the efficacy and effectiveness of C-end users. The patient records their own health data, obtains health guidance, and gradually improves their health status. The hospital team on the platform can provide patients with more effective and accurate disease guidance and treatment plan by visualizing medical health big data.

In the field of mobile applications, relying on the number of users to obtain financing is a very common thing. Around 2015, a large number of mobile applications surfaced, and in the medical field is no exception. For the entrepreneurs at that time, they only had one goal. It’s good to look at your own operational data, and the amount of users is coming up, which means that you can successfully integrate a new round of money.

Yan Ming told reporters that during the "Hundred Sugar World War" period, the handheld sugar doctors also vigorously placed advertisements in public channels such as Weibo, and spent a lot of effort on user acquisition and retention.

“The market at the time was crazy. Everyone was doing things like 'bringing new' and 'active'. At that time, I felt that we had to expand in the same way, to subsidize online, to pull people, to advertise, Then I wasted millions, and if I burned it, it really burned at that time."

Yan Ming recalled: "After 2015, although a large amount of advertising investment obtained a good registration amount, the market ranked higher, but later data proved that this road is wrong."

At the time, IDG Capital intends to invest in the handheld sugar medicine. When doing the best, Yu Ming and his team were awakened and began to pay attention to the core indicator of conversion rate from the user's acquisition and retention data.

Yan Ming looked back at his own data and began to think about what the conversion rate of the handheld medicine doctor would be. "This is a real demand, or a pseudo-demand that we spend money on, so I think we realized it earlier at the time. So I stopped."

"We will also do a certain percentage of advertising now, but it will not be as crazy as it was at that time in 2015. At that time, the dry method must be really burning. I am now more interested in burning money. The data coming out has no value."

Yan Ming, who has experienced the battle of 100 sugar, found that using the Internet to do medical treatment is not just an APP. How to find accurate users, how to pull new ones, keep them, how to improve the user's activity, all need to pass technology. Realization, solved through Internet operations, rather than simply burning money to advertise.

Transformation after trial and error: return to real needs

As it turns out, the logic of Internet entrepreneurship is that as long as you are alive, you win. After a while on the C side, the handheld sugar doctor began to explore new business models. In the words of Yu Ming, it was "returned to the right path."

At the beginning of 2016, Pocket Sugar Medical Co., Ltd. obtained the 100 million B round of financing from the cornerstone capital, IDG Capital, Ping An/Ping An Venture Capital, and Jingwei China's major investment institutions.

"At the end of 16 years, most people who are on the track of diabetes have not yet woken up, still doing the same thing, pulling users on the C side, and then going to be active." In the end, it became a hundred sugar. After the war, it developed to the present.

Sugar doctors, sugar doctors, sugar nurses, sugar care, sweet sugar, sugar news, etc., let homogenized APPs go to the battlefield, and they got a lot of financing in 2014-2015. But today, there are no more than 5 APPs that are still being maintained and operated. Most of the projects have undergone transformation, and the market has entered the second half of the “leftover is king”. Most of the companies in the 2016 and 2017 experience models were falsified and finally returned.

The problem with simply pulling traffic at the C-end is that although there are data, they are all shallow data indicators, and the data produced is not sustainable and has little value. Yan Ming then calculated an account, for the single disease of diabetes, although the population is large, but the number is more than 10% of China, "in other words, even if all of our advertising efficiency is 10 %, then the highest is 10%, the others are not our target audience."

And in 2016, the hospital's push team found in the process of contact with the hospital, the hospital has a huge pain point for the diagnosis and treatment of diabetes patients. At that time, the team was actually solving the problem of hospital treatment and professional advice outside the hospital. This is a scenario that the hospital is not good at, and it needs enterprises to provide practical tools for the hospital.

Yan Ming realized that the previous thinking of making an APP and giving a device could not solve the real demand problem. From medical treatment to out-of-hospital management, there are too many missing links between “governance” and “treatment”.

Yan Ming said: "The change we made later is that we don't pursue users quickly, but based on real needs, to see who is really problematic, need services, and solve problems for these people."

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