Huamei Haolian Completes Series B Funding Round to Accelerate Digital Healthcare Services

E-Health Now, which focuses on AI-driven digital healthcare services, has recently reported a string of good news.

Following its inclusion in the “2023 Top 100 Future Healthcare · Innovative Medical Services List” and receiving the award in the “Health Insurance and Health Management” value category, E-Health Now todayOfficially announced the completion of a tens-of-millions-of-yuan Series B financing round. This round was led by Oriental State-owned Capital, with existing investors including Ventech China, GSR Ventures, Langrun Investment, and the Tongji Alumni Fund continuing to participate.

Notably, since announcing its Series A financing in 2021, E-Health Now has maintained a pace of completing at least one funding round annually. In April 2021, E-Health Now closed its Series A round; in June 2022, it completed its Series A+ round; and in August of the same year, it finalized its Series A++ round. Each round raised amounts in the tens of millions of yuan. Now, less than a year after its previous financing, E-Health Now has successfully completed its Series B round.

The continued follow-on investments from existing investors in previous rounds also reflect their sustained optimism regarding the future development of E-Health Now. Meanwhile, E-Health Now is indeed further strengthening investor confidence through the rapid growth of its own business.

As an AI-powered digital healthcare service platform, E-Health Now adopts a B2B2C model. By providing healthcare solutions to commercial insurers, banks, and enterprises, it is expected to reach 25 million end customers by 2023, delivering health management services to them. It is reported that E-Health Now has already partnered with 80 financial and insurance companies, 20 banks, and numerous medium-to-large enterprises.

Behind the wave of financial and insurance enterprises partnering with E-Health Now lies the rapid rise and development of the health insurance sector.The “Outline of the ‘Healthy China 2030’ Plan” proposes striving to achieve a shift from a disease-treatment-centric model to a health-centric model, from a focus on “treating existing diseases” to “preventing diseases before they occur,” and from disease management to health management. This major trend, coupled with the heightened public awareness of personal health since the onset of the pandemic, is expected to further expand the market size of health insurance. According to GF Securities’ report “Assessing the Growth Potential of China’s Health Insurance Market from the Perspective of the Medical Insurance System,” the market size of health insurance is projected to reach RMB 2.1055 trillion to RMB 3.0078 trillion by 2030.

Xu Bingyu, CEO of E-Health Now, noted that numerous financial and insurance enterprises have increasingly recognized the advantages of health management in marketing and customer acquisition, enhancing customer stickiness, and strengthening the competitiveness of health insurance products. Both core health management services—delivered by online doctors and health managers—and extended services aimed at improving medical access convenience and providing overseas medical treatment channels have garnered significant attention from financial and insurance firms, driving rapid business growth for relevant companies. The entire insurance industry is also progressively transitioning from its traditional roles of risk transfer and medical payment toward comprehensive health management services.

However, the development of health insurance has not been smooth sailing.“Health Management Services + Insurance” continues to face certain challenges at present.First, one of the primary challenges is the difficulty in promotion caused by the high degree of homogenization among related products. Second, since health management inherently requires support from professional health management and medical service operation teams as well as service systems, operational difficulties are also a problem faced by financial and insurance enterprises. Third, there is the challenge of “low consumer awareness.” Some health insurance products suffer from insufficient user engagement and a low sense of benefit, which to some extent creates a vicious cycle—resistance to health insurance products stemming from poor understanding of health insurance.

Are there any companies in the industry that can effectively address the aforementioned issues? The fact that numerous financial and insurance companies have chosen to partner with E-Health Now is a testament to its ability to empower commercial health insurance.Currently, by integrating high-quality medical resources both domestically and internationally and leveraging technological empowerment, E-Health Now provides four major solutions to financial insurance institutions: customer acquisition, value-added services, risk control, and health insurance product innovation. Additionally, it offers AI-driven digital healthcare services to its insurance company clients.

In the realm of health insurance products, E-Health Now currently focuses on customizing and developing health insurance solutions in three specialized areas—critical illness, chronic disease, and high-value medical specialties—to fill market gaps.For instance, to address major high-incidence diseases such as malignant tumors and cardiovascular conditions, insurance products have been developed that allow sub-healthy individuals to obtain coverage despite pre-existing conditions, thereby resolving the difficulty this population faces in securing insurance. For patients with chronic diseases, exclusive health management programs have been launched to help them effectively manage disease progression. In high-value specialties such as dentistry and ophthalmology, specialized insurance products have been developed, accompanied by distinctive health management services. To better meet current market demands, E-Health Now has integrated services with products to create offerings such as overseas specialty drug insurance, targeting the healthy population in the market.

Health insurance products are inseparable from health management services, and the advantages of E-Health Now are evident. Currently, E-Health Now has established strategic partnerships with seven renowned international healthcare systems and over 2,000 international experts across 41 specialties; it has also officially signed agreements with 173 well-known Grade-A tertiary hospitals and their departments in China to jointly build an International Remote Consultation Center.By integrating top-tier, high-quality medical resources in the fields of major chronic diseases and cardiovascular and cerebrovascular disorders, E-Health Now can deliver a comprehensive healthcare service system that covers the entire patient journey—pre-diagnosis, during diagnosis and treatment, and post-diagnosis.

While providing support for medical services, E-Health Now is also leveraging its own capabilities to further empower hospitals. For example, by relying on Springer Nature, one of the most influential publishers in the medical field, and the National Institute of Health and Medical Big Data at Capital Medical University, E-Health Now has assembled an international-level editorial board and team comprising more than 50 renowned experts and scholars. Through this high-caliber editorial team, it has established a high-level academic exchange platform for scientists and healthcare professionals worldwide in the life and health sectors, thereby further enhancing the quality of medical services.

Historically, one of the factors constraining the development of the healthcare industry was the challenge of effectively exploring and analyzing complex diagnostic and therapeutic issues that require the application of extensive knowledge. The advent of AI has broken through this limitation: the continuous development and refinement of medical AI have brought more precise treatment solutions to humanity.

While ChatGPT is experiencing a global surge in popularity, artificial intelligence (AI) continues to evolve within the healthcare ecosystem, assuming an increasingly pivotal role. In fields such as healthcare, generative AI technologies have begun to be gradually applied across various domains, including medical imaging analysis, new drug development, clinical diagnosis, and intelligent health management. It is foreseeable that, with the expansion and innovation of AI capabilities, entirely new frontiers will likely be opened up for clinicians and researchers, offering novel perspectives and approaches in areas such as genomics exploration, pharmaceutical R&D, and disease diagnosis. Looking ahead, the integration of AI into healthcare undoubtedly holds immense potential.

As an AI-driven digital healthcare service platform, E-Health Now has long recognized that artificial intelligence will play an increasingly important role in the field of medical and health management.

Over the past period, while further strengthening its core competitive barriers, E-Health Now has also been integrating additional supply chain resources. By expanding its coverage to include pharmaceutical and medical device companies, testing institutions, and other partners, it has achieved a more in-depth ecosystem layout. Based on this foundation, E-Health Now is now able to provide customers with comprehensive healthcare management services, including health assessments, health consultations, early disease screening, genetic testing, expedited medical access, second opinions from experts, domestic multidisciplinary consultations, international multidisciplinary consultations, access to specialized domestic drugs, and access to specialized overseas medications. By creating an intelligent digital healthcare service solution that covers the entire process of “pre-diagnosis, during diagnosis, and post-diagnosis,” E-Health Now enables customers to enjoy advanced diagnostic and treatment services from both China and abroad without leaving the country.

Leveraging its accumulated expertise, E-Health Now is not only exploring “health insurance + health management” services in partnership with financial and insurance enterprises but also continuously expanding its health management offerings to other B-side clients, such as banks and corporations. Through multi-dimensional collaborations, the company is committed to realizing its corporate vision of “enabling hundreds of millions of families to access high-quality medical and healthcare services.”

Following the completion of this round of financing,CEO of E-Health Nowalso stated,While continuing to strengthen its core competitive moat, the company will allocate capital primarily to the refined operation of health management services, specifically the upgrade of its AI-driven digital healthcare service platform.—By investing in AI healthcare technology and fostering interdisciplinary collaborations, we will build artificial intelligence capabilities (such as ChatGPT-like medical applications) to drive the digital transformation of E-Health Now and comprehensively enhance digital healthcare services. For instance, we will further develop “digital doctors,” deeply integrate AI into our systems to reduce costs and improve efficiency, deliver innovative products and services, and elevate user experience and satisfaction, thereby establishing an industry-leading, customer-preferred AI-powered digital healthcare service platform.

Lead Investor: Dongfang State-owned Assetsstated: “In 2020, funds under Dongfang State-owned Assets participated in the early-stage financing of E-Health Now. Over the years, we have witnessed the company’s business transformation from a consumer-facing (C-end) model to a business-facing (B-end) model. We have been deeply impressed by the core management team’s keen market insights and efficient execution capabilities. As a service platform that empowers health management through digitalization, we believe the company’s offerings can effectively supplement basic medical insurance, enabling citizens to access more precise and efficient healthcare services. Dongfang State-owned Assets has long been committed to promoting the development of early-stage enterprises that possess both social and economic value through equity investments. We firmly believe that, leveraging E-Health Now’s efficient execution and high-quality service capabilities, along with the seamless integration of artificial intelligence technologies, the company will continue to deliver innovative industry value that advances national health management.”

Zhu Xiaohu, Managing Partner at GSR Ventures, a co-investorstated: “We remain optimistic about E-Health Now’s business model and long-term development, and will strongly support the upgrading of its AI-driven digital healthcare service platform. We also look forward to the company’s future growth and performance.”

Eric Huet, Founder and Managing Partner of Ventech China, a co-investorstated: “E-Health Now has maintained impressive high-speed growth despite adverse market conditions, which also demonstrates that the company is aligned with the proper development direction for health management. The company’s rapid response to the market and its corresponding management capabilities lead us to believe that E-Health Now can grow into a company that truly brings transformative impact to China’s health management industry.”

Co-investor: Tongji Alumni Fundstated, “There is immense room for growth in health insurance and health services. We are delighted to see the E-Health Now team pursue steadfast innovation in health insurance and health management services while achieving highly practical, ground-level development.”

E-Health Now is an AI-powered digital healthcare service platform that delivers health management services to clients through a B2B2C model (serving insurance companies, banks, and enterprises), while also empowering the healthcare provider side.

Suzhou Wujiang Dongfang State-owned Capital Investment and Operation Co., Ltd. (hereinafter referred to as “Dongfang Guozi”) was established in 2001. It has set up more than 70 funds, including fund-of-funds and direct investment funds, with a total scale exceeding RMB 50 billion. The company has directly or indirectly invested in and nurtured 58 listed enterprises.

Dongfang State-owned Capital specializes in early-stage investments, with a focus on sectors including electronic information, equipment manufacturing, advanced materials, and biopharmaceuticals. It served as an early institutional investor in outstanding startups such as Maxwell Technologies, Cybrid Technologies, Innoscience, and Tiejin Electromechanical. The firm has received numerous accolades, including the “Best Service Award for Chinese Government Guidance Funds (2021–2022)” from Rongzhong and the “Most Influential Investor in the Chinese Private Equity Fund Limited Partner Market (2021)” from Zero2IPO.

GSR Ventures, established in 2004, has become one of the world’s leading early-stage venture capital firms, managing both U.S. dollar and RMB funds with over $3 billion in assets under management.

GSR Ventures focuses on early-stage investments, actively pursuing opportunities in China, the United States, and other parts of Asia, with a particular emphasis on AI-enabled enterprise services, consumer internet, and health tech. GSR Ventures was among the earliest institutional investors in outstanding startups such as Didi Chuxing, Ele.me, Xiaohongshu (Little Red Book), Inke Live Streaming, Qunar, and Shanghai Great Wisdom.

Ventech China has long been committed to investing in early-stage projects within the broad consumer sector, excelling at identifying companies with unicorn potential at an early stage. Its successful investments include Jumei Youpin, Keep, Wandou Gongzhu, Blued, Xianmu, Supermonkey, and Asia Innovations.

Tongji Alumni Fund was established in 2017. It is entrusted with managing a portion of Tongji University’s donation funds and allocates them to the equity market through a fund-of-funds’ comprehensive strategy.